Ticketing website Trainline was shunted backwards after ministers unveiled plans for a new Government-backed online ticket retailer.
The Department for Transport said that, after Great British Railways (GBR) is established, it will bring firms’ ticketing websites to one online site.
GBR ticketing, alongside the private sector retail market, will aim to simplify the complex fares and tickets structures in place across different franchises.
Chief executive Jody Ford welcomed the Government’s commitment to a competitive retail trade.
But the market still took fright at the prospect of a major competitor and Trainline shed 8.5 per cent, or 33.4p, to 358.6p.
It was a topsy-turvy day, with the FTSE 100 hitting a new intra-day high of 8584 before closing just 3.16 points down at 8545.13. The FTSE 250 fell 0.1 per cent, or 15.43 points, to 20,580.30.
Shake-up: The Department for Transport said that, after Great British Railways is established, it will bring firms’ ticketing websites to one online site
Intermediate Capital Group led the FTSE 100 gainers, up 6.6 per cent, or 140p, to 2258p, as the private equity investor reported strong funding growth, with £18billion raised in 2024 – more than double the previous year. Assets under management jumped 28 per cent to £87billion.
Insurer and wealth manager Aviva was up 3.5 per cent, or 17.2p, to 511.2p, after analysts at JP Morgan upgraded their rating to ‘overweight’ from ‘neutral’.
Broker comment also lifted blue-chip engineer Halma 4.1 per cent, or 116p, to 2951p, as Berenberg upped its stance to ‘buy’ from ‘hold’.
But Auto Trader went into reverse – down 1.9 per cent, or 14.8p, to 776.2p – as BNP Paribas Exane analysts slashed their price target.
On the second line, Quilter gained 2.1 per cent, or 3.3p, to 162p after its fourth-quarter managed assets exceeded market expectations, with nearly £2billion in net inflows, while its core net inflows overall in 2024 were £5.2billion.
Elsewhere, Enquest added 3.2 per cent, or 0.42p, to 13.68p after the oil exploration firm agreed to acquire Harbour Energy’s Vietnamese operations.
But Hochschild Mining plunged 15.6 per cent, or 35.6p, to 193.4p after the South America-focused miner forecast higher production costs due to soaring inflation in Argentina and a slower-than-expected ramp-up of operations at a mine in Brazil.
Among the small caps, Pantheon Resources jumped 19.9 per cent, or 7.8p, to 47p as the Alaska-focused oil and gas company said there is the potential for a 15 per cent to 50 per cent increase in resource estimates following an analysis of its Megrez-1 well.
Petra Diamonds rose 11.1 per cent, or 2.9p, to 29p after it signed a deal to sell its interest in Williamson Diamonds for up to £12million to partner Pink Diamonds.
And Greatland Gold gained 22.3 per cent, or 1.35p, at 7.4p as it revealed that it produced 29,864 ounces of gold and more than 1,189 tons of copper in the first month of its ownership of the Telfer mine in Western Australia.
On the downside, Revel Collective dropped 31.3 per cent, or 0.13p, to 0.28p as the bars operator lowered its full-year profit guidance.
Stock Watch – Engage XR
Engage XR surged 220 per cent, or 1.51p higher, to 2.2p as the virtual comms company unveiled its education offering.
The package, launched at Bett 2025 conference in London, will allow students to participate in virtual field trips, explore historical events and engage in science experiments using curriculum-focused content in a safe, controlled digital space.
Working with Meta and US company Optima ED, it has been developed for children of all ages.
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