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FTSE 250 movers: Drax leads charge while Grafton Group takes a hit

Thu, 09th Jul 2015 16:11

Mid-cap stocks were up slightly on Thursday, by 1.07% at 16:42, with power generator Drax leading the upward charge.The power company put in a solid performance after tumbling to an all-time low on Wednesday after Chancellor of the Exchequer George Osborne announced the government will remove the Climate Change Levy exemption for renewable electricity generated after 1 August 2015.Drax said it expects the change to lead to a reduction in earnings before interest, tax, depreciation and amortisation of around £30m in 2015 and £60m in 2016.The second fastest climber SuperGroup rose 7.17% to 1,330p after posting a 2% rise in pre-tax proit. The clothing retailer also said it signed a joint venture that will allow it to enter the Chinese market.Recruitment firm Hays also had a strong performance as it said second half operating profits would come in ahead of those seen in the first half of the year.Hays shares were up despite the company warning foreign exchange movements would continue to impact profitability.Shares in DIY firm Grafton Group took the biggest dip of the mid-caps after the company said in an update margins were modest.The company said revenue for the six months to June 30 increased by 6.6% from to £1.015bn to £1.08 bn, despite weaker pricing in the UK plumbing and heating market and a competitive market.Debenhams shares fell after UBS downgraded the stock to 'neutral' from 'buy', saying the risk-reward ratio was now balanced.UBS said Debenhams was almost halfway through the gross margin focused strategy and there has been a net gross margin benefit of only 10-20 basis points.Stock in Fidelity China Special Situations and Man Group bounced back, tracking overnight gains in Shanghai shares.
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SuperGroup co-founder to quit firm

LONDON, May 12 (Reuters) - SuperGroup, the British company behind the Superdry fashion brand, said on Thursday its co-founder, brand and design director James Holder, is to quit the retailer. The firm, whose trademark jackets, hooded tops and jogging bottoms are popular with teenagers and t

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12 May 2016 06:55

TOP NEWS: SuperGroup Like-For-Like Sales Growth Quickens

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5 May 2016 15:07

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19 Apr 2016 14:07

FTSE 250 movers: Board expectations lift AVEVA, Meggitt

(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 expecta

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8 Apr 2016 08:32

BROKER RATINGS SUMMARY: HSBC Downgrades Experian To Reduce From Buy

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4 Mar 2016 11:17

BUZZ-UK retailers: Investec mulls impact of "Brexit"

** Investec analysts point to 5 key issues - weaker consumer demand, sterling weakness, labour cost pressure, change in trade terms, and the basis on which investment decisions are made ** But none of these issue are new to the UK retail industry, which the analysts see as better placed tha

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25 Feb 2016 09:36

BROKER RATINGS SUMMARY: Berenberg Downgrades Next To Hold From Buy

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12 Feb 2016 15:08

FTSE 250 miners: Metals and oil stocks rebound

(ShareCast News) - The FTSE 250 was in the black on Friday, with the index up 231.28 points (1.52%) to 15,410.08 by mid-afternoon. Miners featured at the top of the risers list as metal prices rebounded, with shares in Vedanta Resources up nearly 8% as a result. The company also said it is cutting

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12 Feb 2016 12:07

LONDON MARKET MIDDAY: Shares Rebound As Rolls Relief Helps Sentiment

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12 Feb 2016 11:41

London midday: Rolls Royce leads gains ahead of US data

(ShareCast News) - London-listed shares were moving higher at the end of the week as Rolls Royce dismissed worries about an impending rights-issue and after better-than-expected results out of German lender Commerzbank helped to buoy sentiment towards the bank sector across the Continent. As of 11:5

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12 Feb 2016 11:04

SuperGroup founder sells 4m shares, reportedly to fund divorce

(ShareCast News) - The founder of SuperGroup - the company behind the popular Superdry fashion brand - has sold 4m shares due to "personal circumstances" amid reports he plans to use the proceeds to fund his divorce. The shares were sold at 1,200p each via an accelerated bookbuild placing to institu

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12 Feb 2016 10:38

WINNERS & LOSERS SUMMARY: Investor Relief As Rolls-Royce Keeps Outlook

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LONDON MARKET OPEN: Rolls-Royce Jets Skyward As Outlook Is Maintained

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12 Feb 2016 08:29

DIRECTOR DEALINGS: SuperGroup Founder Dunkerton Sells 4 Million Shares

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