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FTSE 250 movers: Ultra Electronics surges but Alfa Financial slumps

Thu, 8th Mar 2018 14:52


(ShareCast News) - London's FTSE 250 was up 0.9% to 19,956.67 in afternoon trade on Thursday.

Defence contractor Ultra Electronics was the standout gainer, a move traders attributed to the company's ongoing buyback.

Drinks maker Britvic fizzed higher as Morgan Stanley upped the stock to 'overweight' from 'equalweight' and lifted the price target to 870p from 680p.

"Britvic is navigating the challenge of rising input costs through cost savings and selective price increases. Uncertainty remains regarding the sugar tax, but we are cautiously optimistic about Britvic's prospects," MS said.

Recruiter PageGroup was clawing back some of the losses it suffered a day earlier when it posted an 18% jump in pre-tax profit in a year that saw record gross profit in 22 countries, but warned over a challenging UK market.

Euromoney Institutional Investor advanced after completing the acquisition of research outfit Extel from WeConvene.

On the downside, software developer Alfa Financial Software Holdings took a beating as it warned that growth in the current year will be slower due to a weaker dollar.

AA was under the cosh as it emerged that former boss Bob Mackenzie is suing the roadside assistance company and insurer for up to 220m, claiming he was victimised while he suffered from stress.

Grafton and Jupiter Fund Management retreated as their stock went ex-dividend.

Risers

Ultra Electronics Holdings (ULE) 1,453.00p 8.03%

Britvic (BVIC) 730.00p 7.04%

Vectura Group (VEC) 78.05p 5.47%

Capita (CPI) 166.50p 4.62%

Cineworld Group (CINE) 235.80p 4.43%

Hill & Smith Holdings (HILS) 1,354.00p 4.39%

Rotork (ROR) 275.40p 4.20%

Pagegroup (PAGE) 531.50p 4.11%

Merlin Entertainments (MERL) 370.40p 4.10%

Euromoney Institutional Investor (ERM) 1,272.00p 3.75%

Fallers

Alfa Financial Software Holdings (ALFA) 406.99p -14.86%

AA (AA.) 78.11p -8.49%

Ferrexpo (FXPO) 302.40p -4.33%

John Laing Group (JLG) 263.20p -4.01%

Jupiter Fund Management (JUP) 503.00p -3.12%

CLS Holdings (CLI) 238.00p -2.66%

Grafton Group Units (GFTU) 804.00p -2.07%

Dixons Carphone (DC.) 188.25p -2.03%

Aggreko (AGK) 705.00p -1.70%

Centamin (DI) (CEY) 148.05p -1.66%




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