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CATEGORY: RISERS AND FALLERS

FTSE 250 movers: ZPG gains on acquisition; Indivior tanks on Suboxone court ruling

Fri 01 Sep 2017

LONDON (SHARECAST) - (ShareCast News) - London's FTSE 250 was down 0.2% to 19,773.21 in afternoon trade on Friday as investors weighed up some solid UK manufacturing data against a weaker-than-expected US non-farm payrolls report.
Digital property and household-related services owner ZPG rose after announcing the acquisition of Ravensworth, the "UK's leading provider" of on-demand print and creative marketing services to estate and letting agents, for an undisclosed sum.

Mitchells & Butlers was on the front foot as HSBC maintained its 'hold' rating on the stock and lifted the price target to 265p from 260p as it took a look at the UK pub sector. "We like M&B's capex-driven recovery programme and think it is clearly delivering results," it said. "Valuation suggests some upside is available, but we think it sensible to exercise caution for now."

Dechra Pharmaceuticals advanced ahead of its full-year results on Monday, but Halfords was weaker ahead of a trading update next Tuesday.

Indivior tanked as it said there was a "material" risk to revenue after a US court ruled that a generic version of its Suboxone film to treat opioid addiction by Dr Reddy's does not infringe any of the London-listed company's patents. Indivior- for whom Suboxone represented around 80% of revenue last year - is set to appeal the decision.

Greene King was under the cosh after HSBC downgraded the stock to 'reduce' from 'hold' and cut the price target to 595p from 680p. The bank said cost headwinds are biting and the group may need to see a further recovery in like-for-like sales to hit its profit target.

Risers

Sophos Group (SOPH) 521.50p 3.68%
Dunelm Group (DNLM) 603.00p 3.17%
Polypipe Group (PLP) 407.80p 3.03%
Dechra Pharmaceuticals (DPH) 1,968.00p 2.88%
ZPG Plc (ZPG) 362.00p 2.70%
Daejan Holdings (DJAN) 6,110.00p 2.69%
Kaz Minerals (KAZ) 862.00p 2.56%
Pets at Home Group (PETS) 187.00p 2.52%
Ferrexpo (FXPO) 306.80p 2.51%
Mitchells & Butlers (MAB) 253.70p 2.34%

Fallers

Indivior (INDV) 268.20p -35.62%
Carillion (CLLN) 41.63p -5.62%
TBC Bank Group (TBCG) 1,598.00p -5.22%
Evraz (EVR) 318.90p -4.86%
Halfords Group (HFD) 312.00p -3.38%
Nostrum Oil & Gas (NOG) 366.10p -3.35%
CLS Holdings (CLI) 215.00p -3.24%
Tullow Oil (TLW) 151.70p -2.82%
Greene King (GNK) 671.00p -2.68%
Petrofac Ltd. (PFC) 407.20p -2.68%
 
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