FTSE 250 movers: NewRiver drops, Tullow gushes higher

London’s FTSE 250 was lower by 0.38% at 20,733.26 in afternoon trade on Monday, with NewRiver leading the index downward.

The real estate investment trust fell after it announced it had completed its acquisition of Sprucefield Retail Park in Lisburn, Northern Ireland, from Intu.

Trainline dropped following the news that the Labour Party plans to create a “one-stop shop” for rail ticket purchases as part of its nationalisation plans.

SIG was also in the red after analysts at Jefferies cut their target price on the stock from 142p to 122p, while Sirius Minerals was lower after a note from Shore Capital said the business would “still be some years from becoming cash generative” even if its fund raising stages were successful.

Up at the other end of the index, Tullow Oil climbed after Ugandan authorities reached a deal in its tax dispute with a number of international oil firms, allowing Tullow to move forward with plans to sell some of its stakes in the nation’s oil fields.

Royal Mail continued to rise after the Court of Appeal on Friday rejected a union appeal against an injunction preventing its staff from striking ahead of Christmas.

Finally, Ferrexpo and Energean were on the up as unexpected growth in Chinese manufacturing activity indicated an increase in demand for fuel and raw materials.

Market Movers

FTSE 250 (MCX) 20,733.26 -0.38%