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FTSE 250 movers: TBC slumps, Cap&Co cheered by merger clearance

Wed 22 Feb 2023 14:51

(Sharecast News) - FTSE 250: 19,688.06, -0.82% at 1431 GMT. Shares in Georgia-focused TBC Bank Group slumped despite reporting strong annual results with net profit up 24% year-on-year to GEL 1bn, with a return on equity of 27.0%.

Operating income grew by 43% to GEL 2.07bn due to robust net interest income, net fee and commission income, and a substantial contribution from foreign exchange operations.

The bank's net interest margin for the full year amounted to 6.0%, an increase of 0.9 percentage points compared to 2021.

Ferrexpo shares fell on sector sentiment after FTSE 100 mining giant Rio Tinto reported a slump in profits.

West End landlords Capital & Counties and Shaftesbury said on Wednesday that the Competition and Markets Authority has cleared their £3.5bn merger.

The merger is now expected to complete on 6 March.

The companies announced last June that they had agreed an all-share merger that would create a combined group with a portfolio valued at around £5bn.

The combined group's portfolio will comprise approximately 670 predominantly freehold buildings with around 2.9m square feet of lettable space across 2,000 commercial and residential units.

FTSE 250 - Risers

Quilter (QLT) 93.94p 3.37% Cranswick (CWK) 3,070.00p 2.74% Just Group (JUST) 86.05p 1.77% Capital & Counties Properties (CAPC) 125.00p 1.63% Digital 9 Infrastructure NPV (DGI9) 80.10p 1.39% Hipgnosis Songs Fund Limited NPV (SONG) 88.20p 1.15% Spire Healthcare Group (SPI) 247.50p 1.02% Crest Nicholson Holdings (CRST) 235.60p 0.94% Helios Towers (HTWS) 107.60p 0.84% Tate & Lyle (TATE) 806.40p 0.77%

FTSE 250 - Fallers

TBC Bank Group (TBCG) 2,320.00p -7.94% Currys (CURY) 75.50p -4.37% Domino's Pizza Group (DOM) 297.80p -4.37% Hunting (HTG) 316.00p -3.66% Watches of Switzerland Group (WOSG) 844.00p -3.54% Ferrexpo (FXPO) 140.60p -2.97% Hammerson (HMSO) 28.22p -2.96% PureTech Health (PRTC) 218.00p -2.90% Mitchells & Butlers (MAB) 155.50p -2.87% Warehouse Reit (WHR) 105.20p -2.77%

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