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FTSE 250 movers: Board expectations lift AVEVA, Meggitt

Tue, 19th Apr 2016 14:07

(ShareCast News) - The FTSE 250 was keeping its head above water on Tuesday afternoon, as oil prices continued their recovery.Engineering data and design software provider AVEVA was among the top risers, after the firm indicated its results to 31 March were likely to be broadly in line with expectations. In a morning update to the market, AVEVA's board did warn that adjusted profit before tax was impacted by year-end foreign exchange effects resulting from a weakening of the US dollar in March. It also said there would be a one-off £4m cost in the results, arising from recent cost saving measures.Defence and aerospace engineer Meggitt was also on the up, after it too reiterated its full-year revenue guidance. The company's board said first quarter trading was in line with expectations, with organic revenue growth of 1% excluding the effects of M&A and foreign exchange. Meggitt had previously announced revenue and earnings will be weighted towards the second half of the year.Clothing retailer Supergroup continued its downward slide, after having its 'outperform' rating reiterated by analysts at RBC Capital on Monday. The report put a target price of 1,800p on the stock, indicating a potential upside of 35.54% from its opening price for the week, though the market had an adverse reaction to the news on Monday which only sharpened on Tuesday. The stock did pare back a fraction of its losses in afternoon trading.Travel group Thomas Cook was also on a similar ride, continuing a downward trend that began when markets opened on Monday. The fall came after Berenberg Bank issued a research note on Sunday, reiterating its 'hold' rating on the company's shares. Analysts at Berenberg put a 105p price target on Thomas Cook, which at the time indicated a potential upside of 10.88%.FTSE 250 - RisersAveva Group (AVV) 1,655.00p 8.67%Clarkson (CKN) 2,390.00p 6.46%Entertainment One Limited (ETO) 192.20p 6.25%Meggitt (MGGT) 413.30p 6.19%TalkTalk Telecom Group (TALK) 250.00p 5.26%Euromoney Institutional Investor (ERM) 943.00p 4.78%Essentra (ESNT) 862.00p 4.48%Weir Group (WEIR) 1,174.00p 4.36%Rotork (ROR) 175.00p 4.17%Just Eat (JE.) 378.20p 4.10%FTSE 250 - FallersSupergroup (SGP) 1,240.00p -4.76%OneSavings Bank (OSB) 281.00p -3.44%Laird (LRD) 360.50p -2.70%Shawbrook Group (SHAW) 273.50p -2.32%Redefine International (RDI) 46.90p -1.24%ICAP (IAP) 468.40p -1.10%International Personal Finance (IPF) 275.20p -1.08%Thomas Cook Group (TCG) 92.75p -1.01%St. Modwen Properties (SMP) 309.50p -0.96%Marshalls (MSLH) 338.00p -0.91%
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