MARKET REPORT: Rival ticketing plans put Trainline in the buffers
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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’.
