Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 250 movers: Future up on B2B sale report

(Sharecast News) - Future shares surged on Wednesday following a report the media group's new chief executive is looking to sever ties with its business-to-business operations. According to Sky News, Jon Steinberg - who took over as CEO in April - has hired investment bankers to explore a disposal of assets including SmartBrief, a digital newsletter provider which serves millions of corporate executives.

City sources told Sky that Future had hired media-focused advisory firm JEGI Clarity to gauge interest from potential bidders.

One source said the sale process would encompass the majority, if not all, of Future's B2B operations, reflecting Steinberg's intention to refocus the company on its consumer-facing brands.

Its other B2B assets include IT Pro, Music Week, the Technology Leaders Summit and TV Tech, which targets broadcast and media production professionals.

Sky said the value of SmartBrief is unclear, including whether Future hoped to secure a significant premium to the $45m it paid to acquire the business in 2019.

Energy companies benefited from higher oil prices with Diversified Energy and Harbour Energy both higher.

Market Movers

FTSE 250 (MCX) 18,567.99 0.54%

FTSE 250 - Risers

BBGI Global Infrastructure S.A. NPV (DI) (BBGI) 141.40p 5.68% Mobico Group (MCG) 83.00p 5.00% Future (FUTR) 782.50p 4.33% HICL Infrastructure (HICL) 133.00p 4.07% Baltic Classifieds Group (BCG) 217.50p 3.57% Target Healthcare Reit Ltd (THRL) 73.00p 3.55% SThree (STEM) 356.00p 3.49% Diversified Energy Company (DEC) 94.25p 3.12% Mitie Group (MTO) 96.50p 2.66% Vistry Group (VTY) 774.50p 2.65%

FTSE 250 - Fallers

Molten Ventures (GROW) 243.80p -1.93% Dr. Martens (DOCS) 156.80p -1.88% Synthomer (SYNT) 66.00p -1.79% CMC Markets (CMCX) 114.40p -1.55% Capita (CPI) 17.77p -1.28% Spire Healthcare Group (SPI) 218.50p -1.13% Aston Martin Lagonda Global Holdings (AML) 350.20p -1.07% Syncona Limited NPV (SYNC) 132.80p -1.04% Digital 9 Infrastructure NPV (DGI9) 57.00p -1.04% Bytes Technology Group (BYIT) 483.00p -0.90%

Share this article

Related Sharecast Articles

FTSE 100 movers: DS Smith surges; S&N in the red
(Sharecast News) - London's FTSE 100 was down 0.9% at 8,086.59 in afternoon trade on Thursday.
FTSE 250 movers: Grafton rises on acquisition, Hochschild in the red
(Sharecast News) - The FTSE 250 was trading more than 1% higher on Wednesday afternoon, with the gains driven by updates from a number of companies earlier in the session.
FTSE 100 movers: StanChart gains on results; GSK in the red
(Sharecast News) - London's FTSE 100 was down 0.7% at 8,159.45 in afternoon trade on Wednesday as chancellor Rachel Reeves delivered the first Labour Budget in 14 years.
FTSE 250 movers: Georgian banks recover; C&C fizzes lower
(Sharecast News) - London's FTSE 250 was up 1% at 20,621.11 in afternoon trade on Tuesday.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.