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FTSE 250 movers: Computacenter surges; Aggreko hit by broker note

Wed, 2nd Sep 2020 15:00

(Sharecast News) - London's FTSE 250 was up 0.5% at 17,687.47 in afternoon trade on Wednesday.
Computacenter surged as it said annual results were likely to be materially better than the company's previous expectations. The computer services company said successful trading in the first half of the year had continued in the first two months of the second half.

Housebuilders Redrow, Bellway and Countryside Properties were all higher after the latest survey from mortgage lender Nationwide showed house prices reached a new all-time high in August, thanks in part to pent-up demand following Covid-19 restrictions.

The sector was also booted by results from FTSE 100 peer Barratt Developments. Although the housebuilder said full-year profits almost halved as the coronavirus lockdown hit sales in the fourth quarter, it reported a sharp rise in completions in the new year as restrictions were eased.

Domino's Pizza rose after it appointed interim chief financial officer Neil Smith to the role on a permanent basis. Smith joined the company as interim CFO on 15 April, having most recently served as CFO of Ei Group from 2011 until its recent takeover by Stonegate Pub Company.

On the downside, Aggreko was in the red as Morgan Stanley initiated coverage of the stock at 'underweight' with a 400p price target.

The bank said the temporary power provider Aggreko has few catalysts for a re-rating beyond a positive oil price surprise and looks more likely to face further valuation pressure rather than a re-rating.

Gold miners Hochschild Mining and Centamin lost ground as gold prices fell.

FTSE 250 - Risers

Hammerson (HMSO) 291.75p 29.67%
Computacenter (CCC) 2,300.00p 14.09%
Redrow (RDW) 458.00p 5.00%
Bellway (BWY) 2,459.00p 4.64%
Contour Global (GLO) 214.50p 4.63%
Countryside Properties (CSP) 330.40p 4.49%
Domino's Pizza Group (DOM) 348.20p 4.25%
Trainline (TRN) 390.00p 4.22%
Renishaw (RSW) 4,950.00p 3.56%
Spirent Communications (SPT) 292.50p 3.36%

FTSE 250 - Fallers

Provident Financial (PFG) 207.80p -9.26%
Aggreko (AGK) 421.00p -6.32%
Hochschild Mining (HOC) 234.20p -6.24%
Watches of Switzerland Group (WOSG) 324.00p -4.71%
National Express Group (NEX) 113.90p -4.37%
OneSavings Bank (OSB) 286.00p -4.35%
Aston Martin Lagonda Global Holdings (AML) 53.60p -3.51%
Rank Group (RNK) 134.40p -3.45%
Centamin (DI) (CEY) 204.40p -3.27%
Petropavlovsk (POG) 35.55p -3.27%

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