FTSE 250 movers: Hastings boosted by UBS note; Crest Nicholson drops
London's FTSE 250 was down 0.1% to 18,976.14 in afternoon trade.
Hastings was sitting pretty at the top of the index as UBS initiated coverage of the insurer at 'buy'.
"The market is pricing in a significant deterioration in Hastings' margins but given reinsurance protection over the next 12 months and unchanged risk tolerance, we see that as unlikely," the bank said.
Challenger bank Shawbrook advanced after Credit Suisse upped its price target to 300p from 270p but retained its 'neutral' stance on the stock.
Syncona gained ground after it noted that Blue Earth Diagnostics - which it funds - had received a positive opinion recommending that Axumin be granted marketing authorisation in the European Union from the Committee for Medicinal Products for Human Use of the European Medicines Agency.
On the downside, housebuilder Crest Nicholson retreated after saying it will pay bonuses to its bosses despite more than half of its shareholders voting against the proposals.
On Thursday, the company said the trading environment has remained robust, with good sales across its areas of operation.
Domino's Pizza was a little weaker after Berenberg cut its price target on the stock.
Risers
Hastings Group Holdings (HSTG) 270.00p 2.66%
Ocado Group (OCDO) 248.00p 2.06%
Shawbrook Group (SHAW) 314.00p 1.95%
Syncona Limited NPV (SYNC) 146.80p 1.52%
Millennium & Copthorne Hotels (MLC) 447.00p 1.48%
Capita (CPI) 567.00p 1.43%
BGEO Group (BGEO) 3,130.00p 1.39%
Ted Baker (TED) 2,697.00p 1.39%
Polymetal International (POLY) 1,042.00p 1.36%
Ferrexpo (FXPO) 169.90p 1.31%
Fallers
Marshalls (MSLH) 352.50p -4.32%
Crest Nicholson Holdings (CRST) 539.00p -3.75%
UDG Healthcare Public Limited Company (UDG) 715.00p -2.92%
PayPoint (PAY) 959.00p -2.74%
Genus (GNS) 1,752.00p -2.29%
Allied Minds (ALM) 325.00p -2.14%
Vedanta Resources (VED) 813.00p -2.11%
Euromoney Institutional Investor (ERM) 1,006.00p -2.04%
Domino's Pizza Group (DOM) 317.90p -1.94%
Hunting (HTG) 547.00p -1.88%