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FTSE 250 movers: Imagination Technologies jumps after beating forecasts

Tue, 24th Jun 2014 15:22
Imagination Technologies rose strongly after its annual figures managed to beat analysts' forecasts despite a fall in profits. The company, which makes multimedia, communications and general purpose processors, also impressed the market on Tuesday by saying the demand for its Ensigma communications technology is "accelerating [...] driven by the emerging trends in the Internet of Things and home connectivity", as it continues to face a slowdown in the core smartphone market. Investec helped Al Noor Hospitals higher after reiterating its 'buy' rating and 1,170p price target. Meanwhile, Domino Printing was a heavy decliner despite meeting expectations in the first half with revenues up 11%, an acceleration from the 8% growth registered in the first quarter. However, it gave a cautious outlook saying "the board believes that results next year could be broadly similar to 2014 as a result of the competitive pricing environment in Asia and other developing markets and the need for additional investment in research and development."Croda International was also in the red after a profit warning from the group on the back of a strong pound. The company, which works in the consumer care, performance technologies and industrial chemicals markets, said it expects second quarter pre-tax profits to be around 8% below the first quarter and full-year profit to be lower than the previous year.Canaccord Genuity pushed bwin.party digital entertainment into the red after it cut its target from 145p to 112p.FTSE 250 - RisersImagination Technologies Group (IMG) 251.00p +7.49%Kazakhmys (KAZ) 318.70p +3.91%Evraz (EVR) 93.35p +3.72%Infinis Energy (INFI) 237.50p +2.28%AL Noor Hospitals Group (ANH) 995.50p +1.58%Wood Group (John) (WG.) 820.00p +1.36%Informa (INF) 489.00p +1.22%Howden Joinery Group (HWDN) 300.30p +1.21%LondonMetric Property (LMP) 135.00p +1.12%KCOM Group (KCOM) 92.75p +0.82%FTSE 250 - FallersDomino Printing Sciences (DNO) 595.00p -19.38%Croda International (CRDA) 2,221.00p -7.69%NMC Health (NMC) 441.30p -4.07%Fidessa Group (FDSA) 2,200.00p -3.80%CSR (CSR) 553.50p -3.57%Tullett Prebon (TLPR) 249.50p -3.48%Wetherspoon (J.D.) (JDW) 762.00p -3.36%Bodycote (BOY) 680.00p -3.13%Bwin.party Digital Entertainment (BPTY) 97.50p -2.89%Jardine Lloyd Thompson Group (JLT) 1,019.00p -2.77%NR

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