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FTSE 250 movers: Ascential, Investec make gains on upbeat earnings

(Sharecast News) - Investec on Friday said it expected to post higher earnings for the first half of the year, boosted by the now-completed merger of its UK wealth and investment business with Rathbones, higher global interest rates and growth in average lending books.

Adjusted pre-tax operating for the six months to August 31 was expected to be in a range of £428.7m- £449.6m, compared with £405m a year ago.

The UK business' adjusted operating profit is expected to be at least 25% higher than the prior period's £174.4 million.

Rathbones merger with Investec W&I was completed on Thursday, creating one of the largest discretionary wealth managers in the UK, with £100bn in combined assets.

Information, analytics and e-commerce company Ascential reported gained on a rise in adjusted first-half core profit.

The group reported revenues of £307.4m, an increase from the previous year's £260.7m, marking a reported revenue jump of 18%.

Adjusted EBITDA rose to £78.6m from the previous £67.2m with a margin of 25.6%.

Market Movers

FTSE 250 (MCX) 18,636.33 -0.01% FTSE 250 - Risers

Ascential (ASCL) 203.20p 6.78% Trainline (TRN) 271.40p 4.14% Investec (INVP) 489.60p 3.73% TP Icap Group (TCAP) 171.90p 3.37% Coats Group (COA) 82.00p 3.27% NCC Group (NCC) 106.20p 3.11% C&C Group (CDI) (CCR) 144.20p 3.00% Rathbones Group (RAT) 1,800.00p 2.86% Mobico Group (MCG) 87.35p 2.10% Ninety One (N91) 173.10p 2.06%

FTSE 250 - Fallers

Drax Group (DRX) 470.20p -3.94% SSP Group (SSPG) 217.80p -3.20% Petershill Partners (PHLL) 156.00p -2.99% Ceres Power Holdings (CWR) 339.00p -2.53% Hilton Food Group (HFG) 773.00p -2.28% Apax Global Alpha Limited (APAX) 163.60p -2.27% PureTech Health (PRTC) 216.50p -2.26% TUI AG Reg Shs (DI) (TUI) 482.20p -2.23% IP Group (IPO) 59.20p -2.15% Hipgnosis Songs Fund Limited NPV (SONG) 83.90p -1.87%

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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.

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