News

CATEGORY: RISERS AND FALLERS

FTSE 250 movers: Kaz boosted by Goldman note; AA skids

Tue 22 Aug 2017

LONDON (SHARECAST) - (ShareCast News) - London's FTSE 250 was up 0.5% to 19,743.36 in afternoon trade on Tuesday.
Kaz Minerals was the standout performer as Goldman Sachs downgraded the stock to 'neutral' from 'buy' following outperformance but upped the price target to 800p from 700p and remained positive on the company's business.

"We remain positive on the company's business and expect strong volume growth (the highest among EMEA copper peers; circa 100% over the next two years) and the company's low-cost positioning (first/second-quartile assets in terms of global copper cash costs), together with an expected decline in capex from 2018 to drive substantial deleveraging."

Marshalls was also on the front foot as Canaccord Genuity lifted its price target on the hold-rated stock to 415p from 375p.

"Marshalls is in great shape: it is being well managed, has a strong market position and product, continues to support growth with various self-help initiatives and has a very strong balance sheet which looks set to strengthen further on the back of strong cash generation," it said.

Infrastructure group Balfour Beatty gained as it was selected by Network Rail to deliver a contract to electrify a 40-mile train route as part of the Great Western Mainline upgrade.

Going the other way, roadside assistance group AA was in the red, with traders pointing to the fact that it has a 0.9% weighting in money manager Neil Woodford's lead fund. Subprime lender Provident Financial, which has a 4.59% weighting in Woodford's fund, was down nearly 70% after issuing its second profit warning in two months and announcing the resignation of its CEO.

Mike Ashley's Sports Direct was weaker as it lifted its stake in department store chain Debenhams to 21% from 19%, giving it 10.5% of the voting rights. The retailer, whose stake in Debenhams was first announced in 2014, also picked up a 27% interest in French Connection in July and a 25% stake in Game Digital.

Risers

Kaz Minerals (KAZ) 781.00p 6.77%
Marshalls (MSLH) 421.50p 4.28%
Ferrexpo (FXPO) 289.00p 3.70%
Balfour Beatty (BBY) 278.40p 3.46%
Evraz (EVR) 269.50p 3.34%
Booker Group (BOK) 201.00p 2.81%
WH Smith (SMWH) 1,881.00p 2.67%
Vedanta Resources (VED) 779.00p 2.43%
Halfords Group (HFD) 323.40p 2.41%
Vesuvius (VSVS) 558.00p 2.39%

Fallers

AA (AA.) 176.70p -4.74%
Sports Direct International (SPD) 393.10p -3.34%
Carillion (CLLN) 48.65p -2.80%
Virgin Money Holdings (UK) (VM.) 260.90p -2.65%
Edinburgh Inv Trust (EDIN) 710.50p -2.47%
Woodford Patient Capital Trust (WPCT) 96.00p -2.29%
OneSavings Bank (OSB) 386.20p -2.23%
Stagecoach Group (SGC) 175.20p -1.96%
Ladbrokes Coral Group (LCL) 117.80p -1.83%
Perpetual Income & Growth Inv Trust (PLI) 379.50p -1.81%
 
Archived Stories

22 Nov FTSE 100 movers: Housebuilders slump on Budget; StanChart rallies
22 Nov FTSE 250 movers: Qinetiq boosted by Berenberg note as Thomas Cook tanks
21 Nov FTSE 250 movers: SIG rallies after update; Aggreko runs out of power
21 Nov FTSE 100 movers: EasyJet flies higher despite falling profits; Mediclinic hit by downgrade
20 Nov FTSE 250 movers: Diploma rallies on results; Spire slides



www.bolsamania.com www.sharecast.com http://www.proshareclubs.co.uk/ www.digitallook.com