FTSE 250 movers: Trainline hits the buffers; Wood gains on contract win

(Sharecast News) - FTSE 250 (MCX) 20,514.83 -0.40%

Wood Group on Monday said it had won a contract to provide long-term maintenance for Esso's onshore and offshore assets in Australia's Gippsland Basin.

The company will provide maintenance services and shutdown support to optimise operational performance of offshore assets in the Bass Strait along with the Longford and Long Island Point facilities in the state of Victoria where Esso has a joint venture with Woodside Energy. No financial details were disclosed.

The Bass Strait is the largest single source of natural gas for the domestic market in Australia and supplies approximately 40% of the country's east coast demand.

Wood said it had won the contract, which will create around 250 jobs, through a competitive tender process. It will start in January 2025.

Shares in Trainline were sliding on Monday, as it emerged that the UK government was planning to expand contactless pay-as-you-go travel across the country's railway network as part of the priorities for the new state-owned operator Great British Railways (GBR).

According to the I newspaper, transport secretary Heidi Alexander identified fare and ticketing reform as a key focus, with an initial rollout in the south-east of England, where 11 stations had already been announced.

Further expansion across the UK was expected to be outlined by the end of the year.

The I said the initiative followed calls from Greater Manchester mayor Andy Burnham, who wanted the government to support his proposal to integrate eight railway lines currently operated by Northern into the regional 'Bee Network', which would include contactless payment options.

It said Alexander was expected to address the Department for Transport operator's conference in Manchester, where she would reportedly stress that nationalisation alone was not a solution to the challenges facing the rail sector.

The Department for Transport had indicated that Alexander's plans for GBR would include greater integration of services, improved transparency through station performance displays, and fare reforms aimed at enhancing passenger convenience.

A wide rollout of contactless payments would likely impact sales of traditional single-trip rail tickets, of which Trainline is the largest independent retailer.

At present, tickets for any National Rail journey can be purchased from stations, as well as from any National Rail operator as well as third-party agents such as Trainline.

Trainline has been criticised by both users and industry insiders for charging booking fees on tickets where operators and some other agents do not, although it is also behind the technology that powers the booking system used by a number of train operating companies.

Market Movers

FTSE 250 - Risers

Indivior (INDV) 1,002.00p 4.87% Wood Group (John) (WG.) 70.05p 2.41% Mobico Group (MCG) 78.50p 2.35% Pets at Home Group (PETS) 211.80p 2.32% W.A.G Payment Solutions (WPS) 85.80p 2.14% SThree (STEM) 287.50p 1.77% Oxford Nanopore Technologies (ONT) 145.40p 1.68% Vesuvius (VSVS) 413.50p 1.60% Trustpilot Group (TRST) 333.00p 1.52% Ashmore Group (ASHM) 155.90p 1.37%

FTSE 250 - Fallers

Trainline (TRN) 384.40p -5.13% Bakkavor Group (BAKK) 138.00p -3.50% Workspace Group (WKP) 462.00p -3.45% Currys (CURY) 90.80p -2.84% Dr. Martens (DOCS) 68.25p -2.71% Baillie Gifford US Growth Trust (USA) 260.00p -2.44% TR Property Inv Trust (TRY) 304.50p -2.40% Target Healthcare Reit Ltd (THRL) 81.60p -2.28% Morgan Advanced Materials (MGAM) 261.00p -2.25% Shaftesbury Capital (SHC) 123.00p -2.23%