FTSE 250 movers: Pets at Home dashes higher, oilers also lifted

Oliver Haill Sharecast | 22 Sep, 2017 17:08 - Updated: 17:08 | | |

ep animal animales perro perros cachorro cachorros perra perras 20170706182801

Tullow Oil

183.90

13:35 20/10/17
0.99%
1.80
  • 181.90
  • -0.55%-1.00
  • Max: 188.50
  • Min: 179.20
  • Volume: 571,211
  • MM 200 : n/a
13:20 20/10/17
  • 20,164.96
  • 0.17%33.44
  • Max: 20,194.52
  • Min: 20,131.52
  • Volume: 0
  • MM 200 : n/a
13:35 20/10/17
  • 8,449.75
  • 0.08%6.83
  • Max: 8,475.53
  • Min: 8,421.01
  • Volume: 0
  • MM 200 : n/a
13:35 20/10/17
  • 2,570.82
  • -0.07%-1.80
  • Max: 2,586.36
  • Min: 2,570.82
  • Volume: 0
  • MM 200 : n/a
13:35 20/10/17
  • 4,187.77
  • 0.18%7.67
  • Max: 4,198.47
  • Min: 4,180.10
  • Volume: 0
  • MM 200 : n/a
13:35 20/10/17
  • 4,134.99
  • 0.19%7.78
  • Max: 4,144.79
  • Min: 4,127.21
  • Volume: 0
  • MM 200 : n/a
13:35 20/10/17

The FTSE 250 index was on the front foot on Friday, led by retailer Pets at Home and a group of oil-related companies.

Pets at Home was lifted as analysts at Berenberg were given increased confidence in the retailer's outlook after a presentation from management, reiterating their 'buy' recommendation and 230p price target. Three main points were around the company’s 438-strong joint venture veterinary model is "underappreciated" for its capital-light, high-margin nature; the volume growth resulting from price investments; plus with "a number" of innovations that are expected to contribute to growth.

With Brent crude oil trading back around its year highs above $56 after a steady three-month rally, producer Tullow Oil was one of the main risers. Also lifted was Cairn Energy and oil services engineers Wood Group and Amec Foster Wheeler, which are due to merge next month.

Having lost ground a day earlier on a mixed trading update, pub operator Mitchells & Butlers regained some fizz to climb back to where it was earlier in the week. Broker Canaccord said M&B continues to trade well versus its peers but on an absolute basis a fourth-quarter slowdown was disappointing, though the shares are changing hands for only seven times full year earnings.

Acacia Mining climbed almost 2% after revealing its third mine in Tanzania is likely to start generating cash again after positive results from a trial to increase the proportion of sellable gold bars. Having previously intended to end gold/copper concentrate production from the Buzwagi mine in the second quarter of 2018 due to the export ban on this material imposed by the Tanzanian government in March, positive trial results have led management to decide to solely produce gold doré bars from the mine until the end of its life in 2020.

FTSE 250 - Risers

Pets at Home Group (PETS) 206.50p 6.12%
Tullow Oil (TLW) 177.80p 4.04%
Mitchells & Butlers (MAB) 245.40p 3.81%
Wood Group (John) (WG.) 664.50p 3.02%
Amec Foster Wheeler (AMFW) 497.70p 2.87%
Indivior (INDV) 324.90p 2.78%
Wetherspoon (J.D.) (JDW) 1,264.00p 2.76%
Polymetal International (POLY) 828.50p 2.73%
Ultra Electronics Holdings (ULE) 1,774.00p 2.54%
Cairn Energy (CNE) 185.60p 2.54%

FTSE 250 - Fallers

FDM Group (Holdings) (FDM) 948.00p -2.92%
TBC Bank Group (TBCG) 1,637.00p -2.56%
Galliford Try (GFRD) 1,323.00p -2.43%
Daejan Holdings (DJAN) 5,830.00p -2.02%
JPMorgan Indian Investment Trust (JII) 709.50p -2.00%
Ferrexpo (FXPO) 285.60p -1.99%
Metro Bank (MTRO) 3,289.00p -1.56%
Marshalls (MSLH) 430.30p -1.28%
Millennium & Copthorne Hotels (MLC) 450.70p -1.23%
Evraz (EVR) 291.50p -1.22%

More news

13:08 Assura subsidiary issues £150m of privately-placed notes, increases debt facilities

Assura’s wholly-owned subsidiary, Assura Financing Limited, has issued £150m of privately placed notes and increased its debt facilities.

12:50 London midday: Shares and sterling higher on cautious Brexit optimism

London stocks kept hold of most of their early gains by midday on Friday as encouraging noises emerging from Brussels mingled with optimism stateside over proposed tax reforms.

12:29 ASOS boosted by HSBC upgrade to 'buy'

Online fashion retailer ASOS got a boost on Friday as HSBC upgraded its stance on the stock to ‘buy’ from ‘hold’ and lifted the price target to 6,650p from 6,250p, saying its new rating is supported by a strong net cash balance sheet.

12:24 Europe midday: Stocks rise on US economic optimism

European stocks are staging a recovery after losses the day before amid optimism regarding prospects for the US economy and despite worries concerning political risks in Spain.

12:31 What can investors in stocks and shares learn from poker players?

Whether you are a seasoned investor or are just starting out in investing in stocks and shares, you will probably have identified that in order to succeed in the stock market, certain skills are required. You’ve probably also recognised that these skills can be further applied to other areas of business and investment.

12:22 Asia report: Markets finish higher ahead of Japan election

Markets in Asia finished higher on Friday, as investors brushed off uncertainty from various corners of the region.

12:08 US pre-open: Stocks seen higher after Senate passes budget blueprint

US futures pointed to a slightly firmer open on Wall Street on Friday after the Senate passed a budget blueprint for the next fiscal year, pushing President Trump one step closer to implementing his tax reforms.

12:04 Jersey Oil to raise £20m via accelerated bookbuild

Jersey Oil & Gas announced on Friday its intention to raise fresh capital via a discounted share offering to fund the company's Verbier appraisal programme and Cortina exploration drilling.

11:47 Trump tax bill clears Senate hurdle as Bush and Obama make veiled swipes

US President Donald Trump’s proposed tax reforms cleared a significant hurdle on Thursday as the Senate passed a blueprint budget for 2018, as the divisiveness under his administration faced thinly-veiled attacks from predecessors Barack Obama and George W Bush.

12:56 EU27 to prepare internally for second phase of Brexit talks

European leaders have agreed to move internal discussions on Brexit onto issues of trade and the exit transition - but not with the UK negotiating team due to the "insufficient progress" made in negotiations.