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FTSE 250 movers: Afren lower on debt-for-equity swap, retailers and health stocks higher

Mon, 16th Mar 2015 14:11

Afren's share price was extending Friday's losses when the company proposed a debt-for-equity swap with lenders to keep it afloat. The deal will lead to a substantial dilution of shareholders' interests.More broadly, oil stocks tumbled on declining Brent crude prices, with Premier Oil and Nostrum Oil & Gas both trading lower.Hunting was hit by a lower price target from Canaccord Genuity, who cut their price from 600p to 475p.AO World was also in the red as chairman Richard Rose sold most of his stake in the retailer for £10m. Rose, who previously held 1.3% of the company, sold 89% of his shareholding for 180p per share, leaving him with a stake of 0.17%.Meanwhile, retailers Ted Baker and Card Factory were trading higher, as were health stocks Synergy Health and Spire Healthcare Group. FTSE 250 - RisersTed Baker (TED) 2,739.00p +6.12%Provident Financial (PFG) 2,758.00p +4.35%Card Factory (CARD) 282.30p +4.13%Just Eat (JE.) 359.80p +3.69%Beazley (BEZ) 295.30p +3.25%Synergy Health (SYR) 2,268.00p +3.23%TalkTalk Telecom Group (TALK) 347.50p +3.02%Investec (INVP) 584.50p +2.81%SIG (SHI) 193.60p +2.76%Spire Healthcare Group (SPI) 339.00p +2.73%FTSE 250 - FallersAfren (AFR) 3.66p -21.29%Vedanta Resources (VED) 446.40p -8.28%AO World (AO.) 177.40p -7.41%Premier Oil (PMO) 121.10p -6.85%Serco Group (SRP) 170.20p -6.64%Nostrum Oil & Gas (NOG) 551.00p -5.97%Hunting (HTG) 431.10p -5.02%Drax Group (DRX) 359.00p -4.85%Polymetal International (POLY) 500.00p -4.12%Infinis Energy (INFI) 188.50p -3.73%
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Sunday newspaper round-up: IMF, Anheuser-Busch InBev, Barclays

(ShareCast News) - The International Monetary Fund concluded its annual meeting in Lima with a warning to central bankers that the world economy risks another crash unless they continue to support growth with low interest rates. The Washington-based lender of last resort said in its final communiqué

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Afren Tries To Reassure Shareholders As It Puts Assets Up For Sale

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31 Jul 2015 12:29

Afren placed in administration after refinancing talks fail

(ShareCast News) - Embattled African oil company Afren, which earlier in July suspended its shares amid uncertainty over its financial position, has been placed into administration as it failed to agree a refinancing with its Pimco-led group of lenders. Despite three months being given $200m in emer

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31 Jul 2015 11:17

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