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FTSE 250 movers: Hikma slips but JD Sports sprints ahead

Fri, 21st Dec 2018 15:15

(Sharecast News) - London's FTSE 250 was down 0.36% at 17,384.94 in afternoon trade on Friday, with international transport operator Stagecoach dropping on the back of a broker note.Hikma Pharmaceuticals was the big faller but Stagecoach was just behind, dropping after RBC Capital Markets cut its price target for the stock from 185p to 160p a day after the company agreed to sell its North America bus and coach division to a US private equity firm for up to $207m (£163m) cash, with a view to focusing on its UK business.RBC said the disposal was likely to reduce earnings per share by 12% for 2020 but admitted that the move did offer scope for expansion through renewed flexibility."UK rail operations continue to experience scepticism from UK investors (we find). However, even with Stagecoach's current contracts (West Coast, East Midlands) we see a rump of relatively low risk cash flow to be gained," it said in a note.At the other end of the scales, sportswear retailer JD Sports rallied on positive read-across after Nike released better-than-expected second-quarter earnings overnight and upped its guidance.Peel Hunt said: "We have a very strong view that JD will make a success of selling apparel in the US. So Nike goes from strength to strength, and so does JD, we think."Energean Oil & Gas remained buoyant after having signed a memorandum of understanding (MoU) earlier this week for transferring its nearshore and onshore assets in Israel to Israel Natural Gas Lines (INGL) for $98m.Meanwhile, Countryside Properties made gains after being given the go-ahead to build nearly 200 new homes on three sites in Rochdale, with works on the projects expected to commence in the new year.Finally, Indivior's shares continued to make gains after the announcement of the publication of study design and participant characteristics of the company's 'RECOVER' (Remission from Chronic Opioid Use-Studying Environmental and Socio-Economic Factors on Recovery) study in the 'Contemporary Clinical Trials' journal. FTSE 250 - RisersJD Sports Fashion (JD.) 340.30p 6.84%Energean Oil & Gas (ENOG) 635.00p 4.10%Vivo Energy (VVO) 132.90p 3.96%Countryside Properties (CSP) 292.00p 3.33%Provident Financial (PFG) 589.60p 3.08%Indivior (INDV) 118.00p 2.70%Keller Group (KLR) 491.50p 2.61%Brewin Dolphin Holdings (BRW) 322.20p 2.42%Charter Court Financial Services Group (CCFS) 236.40p 2.34%Man Group (EMG) 133.45p 2.26%FTSE 250 - FallersHikma Pharmaceuticals (HIK) 1,671.00p -4.89%FDM Group (Holdings) (FDM) 738.00p -4.65%Stagecoach Group (SGC) 129.60p -4.14%Go-Ahead Group (GOG) 1,531.00p -4.01%IP Group (IPO) 111.80p -3.62%TBC Bank Group (TBCG) 1,378.00p -3.37%Inmarsat (ISAT) 399.70p -3.20%Hunting (HTG) 449.80p -2.93%Ultra Electronics Holdings (ULE) 1,277.00p -2.89%Convatec Group (CTEC) 132.95p -2.57%
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Countryside Properties hoping for GBP450 million through restructure

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(Sharecast News) - South32: Deutsche Bank downgrades to hold with a target price of 180p.

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