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FTSE 250 movers: Harbour Energy gushes; Hipgnosis out of tune

15:28, 9th May 2024

FTSE 250 (MCX) 20,542.38 0.25%

Oil and gas business Harbour Energy hiked its full-year dividend on Thursday as its transformational takeover of German rival Wintershall was "on track" to complete in Q4.

Harbour will pay a final dividend of $0.13 per share for 2023 on 22 May, in line with its previously stated plan to payout $200.0m, and maintained guidance for spending, with Q1 capital expenditure of $250.0m and FY spend seen at $1.2bn. Net debt was also halved to $100.0m at the end of March.

Watches of Switzerland Group said it had bought Roberto Coin Inc for $130m as it looks to expand into the luxury jewellery market.

An associate company of Italy's Roberto Coin SPA, the company has exclusive perpetual rights to import and distribute the Italian firm's jewellery throughout the US, Canada, Caribbean and Central America.

WOS said $10m of the takeover cash would be deferred for one year, conditional on the future profitability of the acquired business.

Broadcaster ITV reported a fall in first-quarter revenues on Thursday, dragged lower by the production arm which was hit by the US writers' and actors' strike.

In the three months to the end of March, total revenue declined 7% to £887m, with growth in total ad revenue offset by a 16% slump in revenues to £382m at ITV Studios, which reflected the phasing of deliveries and the expected impact of the US strike.

Private equity giant Blackstone appeared to have emerged as the winner in the race to buy troubled music rights owner Hipgnosis Songs Fund after Apollo-backed Concord said its latest $1.25-a-share offer was final.

Bellevue Healthcare Trust, Balanced Commercial Property, Clarkson, Fidelity Special Values, Ibstock, Lancashire Holdings, Petershill Partners, AG Barr, and SThree all traded with entitlement to the dividend.

FTSE 250 - Risers

Harbour Energy (HBR) 300.00p 7.30%
Genuit Group (GEN) 458.50p 3.85%
Bakkavor Group (BAKK) 122.50p 3.81%
Watches of Switzerland Group (WOSG) 336.20p 3.45%
Helios Towers (HTWS) 110.00p 3.19%
SDCL Energy Efficiency Income Trust (SEIT) 65.50p 3.15%
Hays (HAS) 96.90p 3.03%
Octopus Renewables Infrastructure Trust (ORIT) 75.60p 2.58%
North Atlantic Smaller Companies Inv Trust (NAS) 4,020.00p 2.55%
ITV (ITV) 76.20p 2.49%

FTSE 250 - Fallers

Petershill Partners (PHLL) 200.50p -4.52%
Bellevue Healthcare Trust (Red) (BBH) 141.40p -3.55%
Baltic Classifieds Group (BCG) 239.00p -3.24%
Patria Private Equity Trust (PPET) 551.00p -2.48%
Hipgnosis Songs Fund Limited NPV (SONG) 102.20p -2.29%
Wizz Air Holdings (WIZZ) 2,142.00p -2.28%
Barr (A.G.) (BAG) 577.00p -2.20%
W.A.G Payment Solutions (WPS) 67.60p -2.03%
Paragon Banking Group (PAG) 725.00p -1.89%
VinaCapital Vietnam Opportunity Fund Ltd. (VOF) 480.00p -1.64%


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