FTSE 250 movers: Pets at Home boosted by Stifel note; Just Group drops on placing
London’s FTSE 250 was flat at 20,854.85 in afternoon trade on Tuesday.
Pets at Home was the standout gainer as Stifel, which rates the stock at ‘hold’, updated its estimates to reflect a recent trend toward improved merchandise sales growth and greater margin investment. It also upped its price target on the stock to 175p from 172p.
Pets was also likely to be getting a boost following a solid Christmas trading update from Morrisons.
Kaz Minerals also racked up healthy gains as Goldman Sachs said it remains constructive on metals and mining.
“Miners and Steel names are rallying on strong growth, stable China and slowing supply,” it said, as it highlighted Kaz, Glencore, ArcelorMittal, and First Quantum as its top ideas. It added that despite the recent rally, miners' valuations are compelling.
Dechra Pharmaceuticals also gained ground after it posted a 10.5% jump in half-year revenue and said changes to US taxes are expected to have a positive impact on the group.
On the downside, Just Group slumped as European private equity firm Permira sold 50m shares in the retirement specialist at 157p each in a placing that represents a stake of around 5.3%.
SIG was also weaker despite saying its full-year results should be in line with expectations after a forex boost.
Risers
Pets at Home Group (PETS) 175.60p 4.71%
Kaz Minerals (KAZ) 935.40p 4.40%
Rotork (ROR) 286.81p 2.58%
Pagegroup (PAGE) 474.20p 2.24%
Hays (HAS) 188.40p 2.17%
Evraz (EVR) 378.80p 2.07%
Equiniti Group (EQN) 279.00p 2.01%
Vedanta Resources (VED) 886.80p 1.98%
JD Sports Fashion (JD.) 353.30p 1.93%
Dechra Pharmaceuticals (DPH) 2,044.00p 1.89%
Fallers
Just Group (JUST) 155.90p -7.04%
SIG (SHI) 165.40p -4.50%
SSP Group (SSPG) 657.00p -3.74%
TBC Bank Group (TBCG) 1,622.00p -2.52%
Rank Group (RNK) 240.00p -2.24%
AA (AA.) 160.25p -2.23%
TI Fluid Systems (TIFS) 244.00p -2.09%
UBM (UBM) 742.50p -1.98%
Cineworld Group (CINE) 565.00p -1.82%
Genus (GNS) 2,458.00p -1.60%