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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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29 Jun 2016 13:12

Broker tips: Ocado, Prudential, Shawbrook

(ShareCast News) - Shares in Ocado gave up much of Tuesday's gains as further downgrades were made to forecasts for the current year by Barclays and Exane BNP Paribas. Following an analysts meeting on the day when the online grocery facilitator's mixed interim results generated a positive share pric

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29 Jun 2016 11:16

LONDON MARKET MIDDAY: Political Stalling Creates Stability For Markets

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29 Jun 2016 09:59

Shawbrook bounces back with help from Credit Suisse note

(ShareCast News) - Shawbrook shares surged back 23% higher on Wednesday morning, helped by comments from Credit Suisse that the reaction to the UK's vote to leave the European Union which had seen the challenger bank lose over half of its value in the three days was "overdone". Britain's exit from t

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29 Jun 2016 09:49

WINNERS & LOSERS SUMMARY: Investors Hammer Brammer For Profit Warning

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29 Jun 2016 08:48

BROKER RATINGS SUMMARY: Merrill Lynch Upgrades Burberry To Buy

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29 Jun 2016 07:33

LONDON MARKET OPEN: Downtrodden Banks And Insurers Lead Rally

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28 Jun 2016 16:28

DIRECTOR DEALINGS SUMMARY: Shawbrook Executives Buy Shares

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28 Jun 2016 16:02

LONDON MARKET CLOSE: Stocks Regain Ground After Brexit-Induced Losses

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28 Jun 2016 16:01

DIRECTOR DEALINGS: Shawbrook Executives Buy After Impairment Unveiled

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28 Jun 2016 11:12

LONDON MARKET MIDDAY: Post-Referendum Bargain Hunting Lifts Shares

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28 Jun 2016 09:45

WINNERS & LOSERS SUMMARY: Premier Veterinary Jumps 34% On US Deal

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28 Jun 2016 07:42

Shawbrook unearths 'irregularities' in asset finance lending

(ShareCast News) - Challenger bank Shawbrook Group, having seen its shares fall by a precipitous 45% of their value in two days following the Brexit vote is facing a third day's losses after revealing it will take a £9m impairment charge after finding "irregularities" in loans made by its asset fina

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28 Jun 2016 07:04

TOP NEWS: Shawbrook CFO Resigns As Irregularities Found In Unit

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27 Jun 2016 10:37

Mortgage lending resilient in May but likely to fall post referendum - CML

(ShareCast News) - Mortgage lending remained resilient in May as banks and building societies lent more than in April and than in May last year. Gross mortgage lending swelled to £18.2bn in May, the Council of Mortgage Lenders estimated, up 3.6% from the preceding month and 13.6% higher than this ti

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27 Jun 2016 09:51

WINNERS & LOSERS SUMMARY: easyJet And Foxtons In Post-Brexit Warnings

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