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FTSE 250 movers: Supergroup shares keep advancing

Thu, 06th Feb 2014 15:42
The share price of Imagination Technologies rocketed higher on Thursday morning after US tech giant Apple extended a 'multi-year, multi-use licence agreement' with the chip designer. The contract gives Apple access to Imagination's range of current and future PowerVR graphics and video IP cores, the company said.Fashion retailer SuperGroup assured investors it is on track to hit full-year profit expectations after a robust third quarter performance. In a trading statement covering the 13 weeks to January 26th the company, best known for its Superdry brand, said sales over the period jumped 22.1% to £141m, with cumulative sales for the 39 weeks running up to that same date 21.7% higher to £333.2m. To take into acount the shares are at what is essentially the last level of technical resistance standing in their path, commented analysts at Sharecast. In a late morning note broker Investec described the company as an "attractive long term brand roll-out story [that] supports a premium valuation". It reiterated its 'buy' recommendation on the shares and 1,800p target. Britain's biggest pub group, Enterprise Inns, said trading in the first 18 weeks of the financial year had been encouraging and is in line with company expectations. Broker Numis labeled the 1% rise in like-for-like sales slightly disappointing given the easy 'comps' and left its forecasts unchanged.Insurer Beazley expressed confidence on outlook after revealing a 25% jump in full year pretax profits on the back of a strong underwriting performance and a quiet year for catastrophe related loss claims. The firm hiked its special dividend by 92%. "Ex-the special and second interim [dividend], Beazley is trading on close to a 9 times´ estimated 2014 price-to-earnings multiple, which we would see as an attractive entry point," Cannacord Genuity remarked. Following outsourcing firm Serco´s 'profit warning' Investec reiterated its 'sell' recommendation and 310p price target on the stock.FTSE 250 - RisersImagination Technologies Group (IMG) 186.90p +15.30%Supergroup (SGP) 1,603.00p +7.44%Grainger (GRI) 225.10p +6.23%Beazley (BEZ) 268.00p +5.76%Rank Group (RNK) 144.40p +5.40%International Personal Finance (IPF) 486.60p +4.76%Investec (INVP) 414.50p +4.46%Hikma Pharmaceuticals (HIK) 1,238.00p +4.03%Ocado Group (OCDO) 547.50p +3.99%Barratt Developments (BDEV) 393.80p +3.99%FTSE 250 - FallersKenmare Resources (KMR) 14.70p -7.26%Serco Group (SRP) 398.50p -5.57%Enterprise Inns (ETI) 157.00p -3.80%Foxtons Group (FOXT) 360.50p -2.83%RPS Group (RPS) 320.90p -2.52%TalkTalk Telecom Group (TALK) 297.00p -2.30%Essar Energy (ESSR) 58.15p -1.94%Rotork (ROR) 2,357.00p -1.42%Cranswick (CWK) 1,258.00p -1.10%Kazakhmys (KAZ) 176.10p -0.90%AB Serco Beazley

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