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FTSE 250 movers: Strong order book boosts Morgan Crucible

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Date: Monday 07 Jul 2008

LONDON (ShareCast) - Engineer Morgan Crucible advances after it saw turnover rise by about 13% in the first half and said it expects its full year performance to be in line with forecasts. On a like for like basis, excluding acquisitions, revenue growth is expected to be 10% in the first half. The group’s order books continue to be strong and are well ahead of this time last year.

Microchip designer ARM Holdings advances after UBS raised its rating on the stock to ‘buy’ from ‘neutral’.

Bellway leads the house building sector lower after weekend reports that Persimmon will this week announce 1,000 job cuts and a sharp drop in sales.

Speedy Hire is lower after UBS cut its price target on the tool hire specialist by a third to 500p, predicting that trading conditions will toughen significantly.

FTSE 250 - Risers
Inmarsat (ISAT) 535.50p +8.18%
Kier Group (KIE) 831.50p +5.52%
Stagecoach Group (SGC) 285.00p +4.68%
Imperial Energy Corporation (IEC) 810.00p +4.58%
Morgan Crucible (MGCR) 179.00p +4.07%
Spirent Communications (SPT) 59.75p +3.91%
PartyGaming (PRTY) 235.75p +3.63%
Cookson Group (CKSN) 564.00p +3.39%
ARM Holdings (ARM) 86.00p +3.30%
Regus Group (RGU) 70.75p +3.28%

FTSE 250 - Fallers
Bradford & Bingley (BB.) 42.75p -14.50%
Debenhams (DEB) 34.00p -9.93%
DSG International (DSGI) 35.25p -8.44%
Bellway (BWY) 393.00p -6.37%
BSS Group (BTSM) 248.75p -6.13%
Speedy Hire (SDY) 459.25p -5.99%
SIG (SHI) 417.25p -5.12%
Signet Group (SIG) 47.00p -4.57%
Alliance & Leicester (AL.) 244.75p -4.21%
Home Retail Group (HOME) 196.00p -4.04%

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