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FTSE 250 movers: SIG leaps despite 2013 forecast

Thu, 10th Jan 2013 15:38


Building materials group SIG surged today despite warning that construction markets in 2013 are to 'remain challenging'.

Revenues in 2012 totalled around 2,635m, flat on a constant currency basis, though down by 4.0% in sterling due to exchange rate movements. Underlying profit is expected to be no less than 82m. Shares were up around 6% by midday.

Recruitment company Hays reported three per cent decline in quarterly net fee income and expects conditions to remain fragile. UK and Ireland net fees in the quarter ended December 31st fell 3% while in Asia Pacific it was down 14%. Continental Europe & Rest of World fared better, rising 6% during the quarter after a continued robust performance in Germany, which grew 14%.

TV decoder maker Pace rose after saying that full-year revenue is expected to be ahead of previous forecasts and 4% higher than last year. The West Yorkshire based firm said it expects revenue to be around $2.4bn after a strong second half.

Lighting, signalling and electronics group Dialight was higher after expressing confidence for a "continued strong performance in 2013".

Meanwhile, following Tuesday's failure of the negotiations between China National Gold (CNG) and Barrick Gold (ABX), regarding Barrick's 74% stake in African Barrick Gold (ABG), analysts at Nomura see: "Little incentive for value investors to hold ABG into results, potentially leaving the shares directionless at around the ~350p/share level," pushing the stock lower.

Rentokil Initial dropped after HSBC lowered its target price from 87p to 77p and downgraded the stock to underweight.



FTSE 250 - Risers

SIG (SHI) 137.20p +8.03%

Hays (HAS) 91.85p +7.43%

Lonmin (LMI) 316.20p +6.18%

COLT Group SA (COLT) 105.00p +5.00%

Pace (PIC) 202.00p +4.77%

Dialight (DIA) 1,052.00p +3.65%

Chemring Group (CHG) 275.90p +3.57%

Ophir Energy (OPHR) 569.00p +3.17%

Restaurant Group (RTN) 375.00p +3.02%

ICAP (IAP) 326.70p +3.00%

FTSE 250 - Fallers

African Barrick Gold (ABG) 362.60p -4.58%

Spectris (SXS) 1,961.00p -2.68%

Rentokil Initial (RTO) 91.95p -2.60%

Debenhams (DEB) 104.10p -2.16%

Capital & Counties Properties (CAPC) 241.60p -2.03%

Bodycote (BOY) 463.40p -1.93%

Essar Energy (ESSR) 118.80p -1.82%

Bwin.party Digital Entertainment (BPTY) 109.70p -1.61%

IG Group Holdings (IGG) 468.50p -1.58%

Salamander Energy (SMDR) 196.40p -1.55%





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