Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
FTSE 250 movers: Direct Line surges on takeover; Serco hit by UBS downgrade
(Sharecast News) - FTSE 250 (MCX) 21,051.89 0.24%
Shares in Direct Line spiked on Friday after the UK insurer said it was ready to accept an increased offer from rival Aviva of 275p a share, valuing the company at £3.6bn.
Direct Line last week rejected a 250p cash and share offer. Shares in the company were up 8% in early London trade.
The company reiterated that it was confident of its prospects as a standalone operation, but after considering the new offer with advisers and consulting with shareholders it decided the latest bid was at a value that it could recommend acceptance.
Direct Line shareholders would own approximately 12.5% of the issued and to be issued share capital of Aviva. The Direct Line board believes that, in addition to the attractive headline value per share, the combination would provide the opportunity to deliver significant synergies, creating substantial additional value for both sets of shareholders," the company said in a statement.
Aviva has until 1700 GMT on Christmas Day to make a firm offer under UK takeover rules.
AJ Bell was knocked lower by a downgrade to 'hold' at Deutsche Bank.
Outsourcer Serco was weaker after a downgrade to 'sell' from 'buy' at UBS.
Oil producers were down on news that OPEC+ nations had delayed production cuts until the end of March next year. Energean and Harbour Energy were both lower on the news.
FTSE 250 - Risers
Kier Group (KIE) 158.60p 9.38% Direct Line Insurance Group (DLG) 253.00p 7.20% PZ Cussons (PZC) 87.40p 4.30% SDCL Energy Efficiency Income Trust (SEIT) 58.50p 3.91% SSP Group (SSPG) 187.20p 3.60% Future (FUTR) 1,109.00p 3.16% Wizz Air Holdings (WIZZ) 1,377.00p 3.15% Crest Nicholson Holdings (CRST) 174.00p 2.47% Investec (INVP) 586.00p 2.45% AO World (AO.) 110.00p 2.42%
FTSE 250 - Fallers
Serco Group (SRP) 146.90p -5.47% AJ Bell (AJB) 457.00p -5.19% Energean (ENOG) 939.50p -4.86% Endeavour Mining (EDV) 1,486.00p -2.94% Harbour Energy (HBR) 246.30p -2.80% CMC Markets (CMCX) 286.00p -2.56% Carnival (CCL) 1,866.00p -2.38% Wood Group (John) (WG.) 64.00p -2.36% Me Group International (MEGP) 215.50p -2.05% NCC Group (NCC) 161.00p -1.95%
Share this article
Related Sharecast Articles
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.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
