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FTSE 250 movers: Kier recovers, Ted Baker tumbles

Fri, 7th Jun 2019 14:54

(Sharecast News) - London's FTSE 250 was 0.36% higher at 19,139.81 in afternoon trade on Friday, with Kier Group leading the index higher after a week that saw the construction firm's share price tumble on the back of a profit warning.

Meanwhile, Games Workshop also advanced as it said sales and profit growth extended to the end of its financial year as it reiterated guidance for annual results, stating that sales for the year to 2 June will be about 254m and pre-tax profit will be at least 80m, versus profit of 74.55m a year earlier.

Russ Mould, investment director at AJ Bell, said: "This truly is a business which has hit the right formula to drive up earnings. Historically it rode the hype around Lord of the Rings as the public snapped up miniature fantasy figures, however that catalyst soon fell away once the film series had ended. This time round it has established a bigger group of fans buying into its Warhammer brand and other items, and is not simply relying on a successful film or book series to drive business."

Iron ore pellet producer Ferrexpo rallied after saying that group first half underlying earnings were expected to increase "materially" due to higher prices and sales.

While Ted Baker was the top faller, Royal Mail was also knocked lower by a downgrade to 'hold' at HSBC, where analysts also cut the stock's target price from 300p to 216p as they argued that, though the post carrier's plan to increase automation and re-orientate the business towards parcels is credible and necessary, the benefits are "clearly back end loaded" based on analyst forecasts.

Woodford Patient Capital Trust - run by Neil Woodford - was among the most prominent fallers for a fourth straight session after it emerged on Tuesday that the firm's flagship Equity Income Fund had been suspended after "an increased level of redemptions".

Investment platform AJ Bell was in the red after Invesco Asset Management sold 38m shares - a 9.3% stake - in the business for 144.4m.

Finally, Pets at Home also edged lower after a downgrade to 'hold' at HSBC as analysts stated that, though the company's long-term potential is "significant", they believe that the stock is fairly valued.

Market Movers

FTSE 250 (MCX) 19,134.97 0.36%

FTSE 250 - Risers

Kier Group (KIE) 162.80p 11.97%

Games Workshop Group (GAW) 4,674.00p 5.13%

Just Group (JUST) 46.56p 4.49%

Drax Group (DRX) 304.00p 4.18%

Spectris (SXS) 2,650.00p 3.68%

Babcock International Group (BAB) 476.30p 3.41%

Indivior (INDV) 46.07p 3.37%

Ferrexpo (FXPO) 246.70p 3.31%

3i Infrastructure (3IN) 288.50p 2.85%

Dixons Carphone (DC.) 123.85p 2.78%

FTSE 250 - Fallers

Ted Baker (TED) 1,265.50p -7.49%

Go-Ahead Group (GOG) 1,991.00p -4.28%

Royal Mail (RMG) 195.60p -3.88%

Fisher (James) & Sons (FSJ) 1,994.00p -3.20%

Woodford Patient Capital Trust (WPCT) 62.48p -3.13%

FirstGroup (FGP) 103.70p -2.99%

Metro Bank (MTRO) 651.00p -2.76%

AJ Bell (AJB) 391.00p -2.25%

Amigo Holdings (AMGO) 263.50p -2.23%

Pets at Home Group (PETS) 176.10p -2.17%

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