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FTSE 250 movers: Greencore and banks gain while gold miners fall

Mon, 14th Nov 2016 14:05

(ShareCast News) - The FTSE 250 index was in positive territory, just shy of 17,500, by the late afternoon on Monday.Irish food company Greencore led the risers, gaining on the back of jump in full-year revenue and earnings, a hike in its dividend and the proposed acquisition of Peacock Foods for an enterprise value of $747.5m.Banks of all sizes, including challengers like OneSavings Bank, Shawbrook and Aldermore, were given a boost as treasury yields were on the rise from investor expectations of an earlier hike in interest rates from the US Federal Reserve in December after Donald Trump was elected president. Ipek Ozkardeskaya, senior market analyst at London Capital Group, said: "The US 30-year yields hit 3% for the first time since January, leading banks to see the end of the tunnel, as higher yields finally suggest a period of relief for financial services sector that has seen its revenues heavily squeezed by the low-to-negative yield environment over the past years."Mid-cap housebuilder Crest Nicholson climbed after larger peer Taylor Wimpey said the UK housing market remained resilient, despite the implications of Brexit being unclear.Gaming software development company Playtech gained ground as it announced that it has agreed to buy Consolidated Financial Holdings for up to $120m - a deal it said will enhance its position as it continues to build a B2B offering in its financials division.Meanwhile gold miners Centamin and Hochschild fell as gold prices took a 0.51% dive as a result of the US presidential result. "Gold miners are down this morning as the market braces for higher interest rates following the election of Donald Trump. Higher interest rates increase the effective cost of holding gold, making it less attractive to investors," said analyst Nicholas Hyett at Hargreaves Lansdown.Tullow Oil fell as oil prices took a hit with Brent Crude dropping 0.7% to $44/44 and WTI down by 0.9% to $43.02 in the late afternoon. "Oil was shaky on Monday as the heightened fears over the persistent oversupply of oil in the global markets haunted investor attraction. The Dollar resurgence amid rising US rate hike expectations simply pressured oil prices further with concerns that demand may be waning from slowing global growth capping oils upside gains," said FXTM analyst Lukman Otunuga.RisersGreencore Group (GNC) 329.50p 12.88%Shawbrook Group (SHAW) 262.40p 5.47%OneSavings Bank (OSB) 321.50p 4.05%Crest Nicholson Holdings (CRST) 453.80p 3.99%Paragon Group Of Companies (PAG) 351.90p 3.29%Aldermore Group (ALD) 203.90p 3.19%Playtech (PTEC) 910.50p 3.17%GVC Holdings (GVC) 644.50p 3.04%International Personal Finance (IPF) 282.30p 2.65%Marshalls (MSLH) 279.20p 2.61%FallersCentamin (DI) (CEY) 135.60p -3.90%Pennon Group (PNN) 765.50p -3.65%Tullow Oil (TLW) 238.90p -3.20%Hochschild Mining (HOC) 238.90p -3.20%Drax Group (DRX) 293.00p -2.98%AO World (AO.) 166.00p -2.18%Acacia Mining (ACA) 443.40p -1.97%DFS Furniture (DFS) 221.60p -1.95%Fidelity European Values (FEV) 173.20p -1.65%Ascential (ASCL) 285.40p -1.59%

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11 Nov 2016 09:55

Friday broker round-up

(ShareCast News) - Imperial Brands: JP Morgan keeps at neutral with a target price of 3660p. Standard Life: Berenberg stays at buy 416p target. Barclays: Societe Generale upgrades to buy with a 235p target. UBM: Barlcays reiterates equal-weight with a 755p target. Derwent London: Goldman Sachs ke

10 Nov 2016 14:35

Broker tips: Bovis Homes, Aldermore, miners

(ShareCast News) - Numis reiterated an 'add' rating and a target price of 939p on Bovis Homes on Thursday after the housebuilder reported a full year trading update. The company said it expects to deliver record revenues in 2016 as the backdrop for UK housebuilding continues to be positive, with dem

10 Nov 2016 09:41

RBC Capital ups Aldermore to 'outperform' after Q3 results

(ShareCast News) - RBC Capital Markets upped its stance on Aldermore to 'outperform' from 'sector perform' and lifted the price target to 210p from 190p after the challenger bank's third-quarter update. The bank pointed to strong growth in the quarter and reassuring guidance from the group for the f

10 Nov 2016 08:58

Aldermore increases new lending to business customers

(ShareCast News) - Retail bank Aldermore's new lending to business customers increased in the year to date, while capital growth rose in the third quarter. For the nine months ended 30 September, net loans were up 15% to £7.1bn, compared to the same period last year, due to greater levels of new len

10 Nov 2016 08:39

LONDON MARKET OPEN: Stocks Add To Trump Bounce

10 Nov 2016 08:01

Aldermore Sees No Slowdown In Demand As New Lending Increases

8 Nov 2016 08:00

Glyn Jones signals exit from Aldermore

(ShareCast News) - Aldermore Group announced on Tuesday that on 7 November, Glyn Jones tendered his resignation as non-executive chairman and director of the company, with effect from 6 February 2017. The FTSE 250 firm said Jones has decided to step down from the board following a review of his time

26 Oct 2016 09:12

Banks' mortgage approvals rebound from low, BBA data shows

(ShareCast News) - Mortgage approvals from high street banks rebounded slightly in September, according to data from high street banks, after hitting a 19-month low in August. The British Bankers' Association (BBA) revealed mortgage approval numbers in September of 38,252, which was up from 37,241 i

25 Oct 2016 11:46

Credit Suisse sees rising risks for challengers banks Aldermore, Shawbrook

(ShareCast News) - OneSavings Bank received an upgrade but Aldermore and Shawbrook were downgraded by Credit Suisse as it warned the risks facing the UK's challenger banks were "becoming harder to ignore" heading into 2017. Following solid share price recoveries in recent months, the risk-reward for

25 Oct 2016 07:15

LONDON BRIEFING: Pound And Shares Firm Ahead Of UK Airport Decision

18 Oct 2016 16:17

Sector movers: Retailers rise to the top

(ShareCast News) - Retailers led gains in the market, with Tesco and Sainsbury leading the pack north on the heels of the latest sector survey results. During the last three months the former notched up its first market share gain in five years, with sales by 1.3% and market share by 0.1 percentage

5 Oct 2016 16:07

LONDON MARKET CLOSE: Investors Cash In Profit While Pound Hits New Low

4 Oct 2016 10:37

Barclays ups Aldermore and OneSavings to 'overweight'

(ShareCast News) - Barclays upgraded challenger banks Aldermore and OneSavings Bank to 'overweight' from 'equalweight' as it took a look at UK specialist lenders. It lifted its price target for Aldermore to 200p from 150p and said it should benefit from growth in the specialist buy-to-let and SME se

23 Sep 2016 08:34

RBC ups targets on specialty lenders due to UK economic resilience

(ShareCast News) - Analysts at RBC revised their price targets for UK challenger banks higher as a result of the resilience shown thus far by the economy and the support provided by the Bank of England. The broker also revised its forecasts higher for Aldermore,Close Brothers and Shawbrook. "While

6 Sep 2016 13:25

Tuesday newspaper share tips: Lloyds, Aldermore, Hunting

(ShareCast News) - Lloyd's Banking Group will continue to struggle as downgrades from two brokers showed, sending its shares promptly lower, according to The Telegraph's Questor column. Things had been looking up for potential investors in the bank at the start of the year as the government prepa

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FTSE 250 movers: Greencore and banks gain while gold miners fall

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