FTSE 250 movers: Beazley comes out on top; miners fall

Bianca Boorer Sharecast | 03 Feb, 2017 16:54 | | |

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The FTSE 250 index rose 0.89% to 18,421.49 at 1609 GMT on Friday.

Insurer Beazley was in the green as it reported a 3% jump in full-year profit as premiums written increased and the company lifted its dividend. In the year to the end of December, pre-tax profit rose to $293.2m from $284m in 2015 as gross premiums written increased 6% to $2.2bn. Fellow insurer Hiscox also gained as a read across from Beazley.

Halma got a boost as Barclays upgraded its stance on the stock to ‘overweight’ from ‘equalweight’ and lifted the price target to 1,150p from 1,070p. The bank noted Halma’s shares have pulled back 20% from their October 2016 high of 1,126p, driven by the rotation out of low volatility ‘bond proxy’ stocks combined with mildly disappointing interim results and an unforgiving valuation.

Wizz Air bounces back after losses in the previous session when it announced passenger numbers increased 23.3% in January, while the budget eastern Europe-focused airline also announced new routes to and from Poland, Bulgaria and Lithuania.

Pharmaceutical business Indivior advanced as Numis reiterated its stock at ‘buy’ and maintained its price target at 450p. “Worries over the potential outcome of this trial have weighed heavily on the shares in recent weeks. However, since defeating Par and Actavis in June 2016, several further developments increase our confidence that Indivior will also triumph against Dr Reddy’s.”

The Caixin manufacturing purchasing managers' index, a private gauge of factory activity, nudged down to 51.0 in January from 51.9 in December. This weighed on basic resources, which are heavily dependent on demand from China sending stocks in miners Evraz, Petra and Vedanta Resources down. Investors were also digesting news that China has unexpectedly lifted short-term interest rates. The PBOC raised reverse repurchase agreements by ten basis points to 2.35%.

Risers

Beazley (BEZ) 443.80p 8.59%
Halma (HLMA) 965.00p 4.21%
Hiscox Limited (DI) (HSX) 1,073.00p 4.17%
Wizz Air Holdings (WIZZ) 1,620.00p 3.85%
Indivior (INDV) 314.90p 3.72%
Capital & Counties Properties (CAPC) 278.40p 3.34%
JD Sports Fashion (JD.) 366.20p 3.10%
Savills (SVS) 798.00p 2.97%
Playtech (PTEC) 873.00p 2.95%
Jardine Lloyd Thompson Group (JLT) 1,051.00p 2.94%

Fallers

Vedanta Resources (VED) 1,056.00p -2.94%
IP Group (IPO) 183.00p -1.77%
Nostrum Oil & Gas (NOG) 452.70p -1.59%
Sophos Group (SOPH) 262.80p -1.39%
G4S (GFS) 252.50p -1.25%
Petra Diamonds Ltd.(DI) (PDL) 146.00p -1.22%
Brown (N.) Group (BWNG) 224.10p -1.10%
Evraz (EVR) 235.50p -1.09%
Rank Group (RNK) 200.30p -1.09%
Drax Group (DRX) 367.60p -1.02%

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