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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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5 May 2016 08:31

Shawbrook hikes profits and sets out confident loan targets

(ShareCast News) - Shawbrook Group grew profits 29% in the first quarter and, despite a small squeeze on net interest margins (NIM) from higher property lending in the period, stated its confidence in hitting full year targets. The challenger bank said its business pipelines remained healthy, even a

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5 May 2016 07:43

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20 Apr 2016 11:01

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15 Mar 2016 16:56

Sector movers: Antofagasta crushed after company abandons dividend

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15 Mar 2016 09:31

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7 Mar 2016 09:39

BROKER RATINGS SUMMARY: Citi Downgrades IHG To Sell From Neutral

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3 Mar 2016 16:40

Thursday newspaper share tips: Virgin Money, Challenger banks

(ShareCast News) - Homes are not always a safe repository of value, as property busts show, but at the moment they are the safest corner of the UK banking space. That was reflected yesterday in Virgin Money's full-year figures for return on tangible equity, which at 10.9% easily trumped those of the

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3 Mar 2016 15:58

Broker tips: Stagecoach, Shawbrook

(ShareCast News) - Stagecoach Group's shares declined on Thursday as Investec cut its rating to 'sell' from 'reduce' and target price to 250p from 300p. Investec said Stagecoach's trading update on Wednesday revealed softer revenues than expected in all divisions, apart from North America. The FTSE

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3 Mar 2016 13:32

Shore Capital says get Shawbrook while it's hot

(ShareCast News) - Shore Capital has reiterated its 'buy' rating on challenger Shawbrook Bank on its belief the valuation of the specialist lenders sub-sector is wrong, with Shawbrook being valued at 10 times earnings despite 20% EPS growth forecast. Maiden final results from the bank since its 2015

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3 Mar 2016 11:50

Shawbrook beats forecasts and plays down BTL worries

(ShareCast News) - Shawbrook Bank's first final results since its flotation last April showed underlying profits ahead of forecasts and confidence brimming for the years ahead. The 'challenger' bank, which was formed when the former RBS Equity Finance acquired the banking licence of Manchester-based

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FTSE 250 movers: Ocado, Ultra and Hiscox weigh on index

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