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FTSE 250 movers: Playtech and Mitie climb after upgrades

Mon, 6th Nov 2017 13:13

(ShareCast News) - The FTSE 250 index nudged slightly lower (-0.12%) in afternoon trading on an undramatic day in London equity markets on Monday.

The biggest mover of the day was Playtech Group, which rose more than 6% after a 'buy' recommendation was reiterated by UBS.

Also benefiting from positive broker research was Mitie Group, which gained after it received an upgrade to 'buy' from Jefferies, which also upped its target price to 290p from 220p as they noted that a sale of its property management division would de-risking the outsourcing company's balance sheet and allow it to become more profitable.

Mining stocks were experiencing a good day at the quarry as iron ore prices rallied on reduced pressure from China, with Ferrexpo among the top performers, while Brent crude hitting $63 for the first time since July 2015 good news for the likes of Tullow Oil.

Airline Wizz Air was also trading higher in the afternoon following the news that its passenger numbers and load factor both increased for October.

On the other end of the table, healthcare firm BTG was in the red after it confirmed it had been ordered to pay a 55.3m provision after the final ruling in its patent dispute with WellStat Therapeutics went against the company. An appeal is being mulled.

Morgan Advanced Materials also fell despite reaffirming its outlook for the rest of the year, while reporting trading was largely in line with expectations.

Flexible office space company IWG, formerly known as Regus, also found itself among the strugglers on Monday after it was on the receiving end of a downgrade from RBC Capital Markets. Brokers cut the stock to 'sector perform' following a profit warning last month.

FTSE 250 - Risers

Playtech (PTEC) 815.50p 5.91%

Ferrexpo (FXPO) 269.60p 4.25%

Mitie Group (MTO) 247.20p 3.78%

Sophos Group (SOPH) 623.50p 2.97%

Aldermore Group (ALD) 310.80p 2.78%

Centamin (DI) (CEY) 135.10p 2.50%

BGEO Group (BGEO) 3,677.00p 2.39%

Tullow Oil (TLW) 195.20p 2.36%

Wizz Air Holdings (WIZZ) 3,356.00p 2.25%

Petrofac Ltd. (PFC) 450.70p 2.13%

FTSE 250 - Fallers

BTG (BTG) 736.50p -5.46%

CLS Holdings (CLI) 228.20p -2.89%

Inchcape (INCH) 766.00p -2.36%

Sports Direct International (SPD) 391.50p -2.34%

Dairy Crest Group (DCG) 593.50p -2.14%

TP ICAP (TCAP) 489.90p -2.02%

IWG (IWG) 217.50p -1.98%

GVC Holdings (GVC) 902.50p -1.96%

Morgan Advanced Materials (MGAM) 319.00p -1.85%

Safestore Holdings (SAFE) 455.00p -1.71%

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