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FTSE 250 movers: Zoopla helps keep market marginally in the black

Fri, 08th Jan 2016 15:11

(ShareCast News) - The FTSE 250 remained in the black by mid-afternoon, but only just with the market up 0.27 points (0.00%) to 16,792.49.Zoopla Property Group surged nearly 7% after Berenberg issued an analysis of the media sector and reiterated its 'buy' rating for the property classifieds website as well as its target price of 300p.The investment bank said the online classified model is extremely attractive, especially when it comes to property. "At a critical mass, of which Zoopla has reached, there is a certain dependency from househunters and therefore a necessity for agents to be members." While On The Market has recently entered the scene, Berenberg didn't believe it differentiate enough from Zoopla it and won't last long-term, saying the disruption from the new competitor is an overreaction. "That said, OTM should still be considered a disruptor to what is a solid structural growth and margin development story."Vectura Group wasn't too far behind after it announced it had made a big step forward in the development of two of its products on Friday, VR315 and VR506, with the completion of a US clinical trial and the disclosure of its US development partner.The firm described VR315 as a generic, inhaled combination therapy of fluticasone and salmeterol, delivered to asthma and chronic obstructive pulmonary disease sufferers using a proprietary dry powder inhaler and Vectura's formulation technology. It also confirmed that its partner in developing the VR315 programme, as well as the VR506 product, was Roxane Laboratories - a subsidiary of Boehringer Ingelheime based in Connecticut.Just Eat also rose as investors digested a broker note from Jefferies that upgraded the company's price target from 515p to 550p and reiterated its 'buy' rating.It said that it isn't entirely sure if the website statistics have been priced in yet, but an increase of the commission it takes on takeaway orders to 14% certainly isn't. "Our recent review of JE's TR network suggests that TR's new to the UK network are now being charged a 14% commission rate. JE last upped the UK rate from 11% to 12% in January 2014, we conclude two things. The UK rate steps up to 14% not 13% and that this happens in 2016."As some uncertainty remained about what would happen next in China, one of the world's biggest commodities consumers, miners and oil companies continued to lead the fallers by the end of the week.Chinese markets appeared to be in a less fidgety mood, given Beijing had suspended its new circuit-breaker rule which closed the markets twice this week. The Shanghai Composite Index finished up 1.97% at 3,186.41, a slight recovery from the 7% dive it took during the 30-minute trading day on Thursday. However oil prices were still sitting around $33 a barrel, driven down after Iran has banned imports from Saudi Arabia as the rift between the two nations escalated earlier this week. It came as Iran reportedly accused Saudi Arabia of intentionally launching an airstrike on its embassy in Yemeni capital Sanaa.These international events all had an impact on seven of the 10 biggest fallers. Tullow Oil also had its target price lowered by JP Morgan from 310p to 295p. FTSE 250 - RisersZoopla Property Group (WI) (ZPLA) 240.40p 6.84%Vectura Group (VEC) 188.50p 5.84%Elementis (ELM) 217.50p 4.92%Just Eat (JE.) 474.20p 3.65%Marston's (MARS) 164.40p 3.53%Auto Trader Group (AUTO) 440.30p 3.24%Card Factory (CARD) 351.40p 2.78%Betfair Group (BET) 3,977.00p 2.76%BBA Aviation (BBA) 178.60p 2.70%Poundland Group (PLND) 172.00p 2.50%FTSE 250 - FallersTullow Oil (TLW) 141.30p -5.80%Evraz (EVR) 63.70p -5.77%Vedanta Resources (VED) 227.10p -5.22%Jimmy Choo (CHOO) 121.10p -4.12%Wood Group (John) (WG.) 560.00p -3.53%Petrofac Ltd. (PFC) 715.50p -3.51%Ophir Energy (OPHR) 85.05p -3.46%Debenhams (DEB) 65.50p -3.25%Cairn Energy (CNE) 137.00p -3.18%Enterprise Inns (ETI) 104.50p -3.15%
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