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FTSE 250 movers: Bodycote boosted by Barclays note; 888 hit by share placing

Wed, 4th Oct 2017 13:02


(ShareCast News) - London's FTSE 250 was down 0.1% to 20,022.39 in afternoon trade on Wednesday.

Bodycote was the standout gainer after Barclays initiated coverage of the stock at 'overweight' with a 1,025p price target.

Wetherspoon was given a lift after Berenberg upgraded its stance on the stock to 'hold' from 'sell' but peer Marston's was hit by a downgrade to 'hold' by the same outfit.

Shares in 888 Holdings fell after Sinitus, a multi-family office, sold out of the entire stake it was holding for clients via an accelerated bookbuild, raising gross proceeds of around 112m.

Vectura was slightly higher after partner Mundipharma confirmed a successful outcome in Europe for its flutiform k-haler, a novel aerosol-based asthma treatment for adults and adolescents using a combination of drugs..

Property investor CLS Holdings also climbed modestly after renewing leases on 14 government properties across the UK, which it bought as part of a 119m, 34-property parcel four years ago.

OneSavings Bank tumbled most after private investment firm JC Flowers completed its fourth share disposal since floated the challenger bank in 2014 and its third selldown in the last seven months. Flowers sold 20m shares, equivalent to an 8% stake, at 375p each, a 6% discount to the previous day's closing share price and 14% below the price of 438p which Flowers achieved on its last sale in 25 May.

Shaftesbury was hit by a downgrade to 'reduce' from 'hold' at HSBC, which cut its price target on the stock to 856p from 932p.

Royal Mail was also in the red after its workers voted in favour of a strike in a row over pensions and pay. The Communications Workers Union said on Tuesday that 89% of its members had voted in favour of industrial action. With a 74% turnout and taking into account frontline employees who are not members of the union, the strike has 57% backing.

Ultra Electronics didn't make much of a splash with its announcement about a $16.2m extension to US Navy contract. Under the contract, Ultra will work with the Navy to design, develop, integrate and install a variety of cyber-secure systems for critical infrastructure control and monitoring. Ultra shares fell slightly on the day.



Risers

Bodycote (BOY) 957.00p 3.91%

Kaz Minerals (KAZ) 815.50p 3.89%

Daejan Holdings (DJAN) 6,030.00p 3.08%

Wetherspoon (J.D.) (JDW) 1,270.00p 3.00%

UDG Healthcare Public Limited Company (UDG) 894.00p 2.82%

Evraz (EVR) 327.20p 2.19%

Coats Group (COA) 81.80p 2.19%

Countryside Properties (CSP) 356.00p 2.15%

Nex Group (NXG) 645.00p 1.98%

Beazley (BEZ) 490.20p 1.81%

Fallers

888 Holdings (888) 244.90p -5.44%

OneSavings Bank (OSB) 377.10p -5.16%

Provident Financial (PFG) 861.00p -4.76%

Acacia Mining (ACA) 188.70p -3.23%

Marston's (MARS) 105.40p -2.95%

Shaftesbury (SHB) 984.00p -2.57%

Royal Mail (RMG) 374.50p -2.52%

Pets at Home Group (PETS) 214.00p -2.51%

Equiniti Group (EQN) 294.50p -2.22%

Capital & Counties Properties (CAPC) 260.10p -2.18%




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