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FTSE 250 movers: Debenhams in top spot

Tue, 10th Jan 2012 15:27

Debenhams raced into pole position after its Christmas trading statement showed a better-than-expected like-for-like (LFL) sales performance in the 18 weeks to January 7th. Shares jumped over 11% after LFL sales (excluding VAT) came in flat, compared with expectations of a decline. Panmure Gordon upgraded its rating on the department store retailer from sell to hold following the update.Out-of-town homewares retailer Dunelm also rose after LFL sales for the half year ended December 31st grew by 1.1%, contributing to an 8.8% rise in total revenue for the period. Gold miner Centamin produced 10% more gold in the fourth quarter from its flagship Sukari project in Egypt. Gold production totalled 58,965 ounces, above the 53,189 ounces produced in the same period of 2010 and 16% higher than the 50,539 ounces produced in the third quarter of 2011. Miners in general were gaining ground after some positive economic data from China boosted sentiment. Talvivaara Mining and BlackRock World Mining Trust were higher.Meanwhile, recruitment firm Hays was the biggest faller despite reporting that LFL net fees rose 8% in the quarter ended 31 December 2011. While the group saw strong growth elsewhere, UK net fees fell 7%. Panmure Gordon maintained its hold rating on Hays with a 60p target, Peel Hunt maintained the stock at buy and an 80p target, while Shore Capital kept a hold and 64p target. FTSE 250 - RisersDebenhams (DEB) 63.35p +11.34%Centamin (DI) (CEY) 87.50p +8.23%Cape (CIU) 353.10p +5.21%Talvivaara Mining Company (TALV) 276.80p +4.89%Mondi (MNDI) 483.10p +4.27%Northgate (NTG) 207.40p +4.22%Afren (AFR) 109.00p +4.11%Henderson Group (HGG) 101.80p +4.09%JPMorgan Indian Inv Trust (JII) 339.90p +3.88%Victrex (VCT) 1,160.00p +3.57%FTSE 250 - FallersHays (HAS) 62.85p -3.83%Paragon Group Of Companies (PAG) 172.00p -3.43%Oxford Instruments (OXIG) 935.00p -3.21%Ocado Group (OCDO) 54.20p -3.21%Redrow (RDW) 118.40p -3.19%Kier Group (KIE) 1,385.00p -2.46%Galliford Try (GFRD) 466.80p -2.34%AG Barr (BAG) 1,179.00p -1.91%Ophir Energy (OPHR) 307.60p -1.73%COLT Group SA (COLT) 85.95p -1.66%NR

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