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FTSE 250 movers: Pets at Home dashes higher, oilers also lifted

Market Reports

FTSE 250 movers: Pets at Home dashes higher, oilers also lifted

Fri, 22 September 2017
Article viewed 990 times
FTSE 250 movers: Pets at Home dashes higher, oilers also lifted
Tullow Oil Quote more

Price: 183.50

Chg: 1.40

Chg %: 0.77%

Date: 17:00

FTSE 250 Quote

Price: 20,146.88 Chg: 15.36 Chg %: 0.08% Date: 16:54

(ShareCast News) - The FTSE 250 index was on the front foot on Friday, led by retailer Pets at Home and a group of oil-related companies.
Pets at Home was lifted as analysts at Berenberg were given increased confidence in the retailer's outlook after a presentation from management, reiterating their 'buy' recommendation and 230p price target. Three main points were around the company's 438-strong joint venture veterinary model is "underappreciated" for its capital-light, high-margin nature; the volume growth resulting from price investments; plus with "a number" of innovations that are expected to contribute to growth.

With Brent crude oil trading back around its year highs above $56 after a steady three-month rally, producer Tullow Oil was one of the main risers. Also lifted was Cairn Energy and oil services engineers Wood Group and Amec Foster Wheeler, which are due to merge next month.

Having lost ground a day earlier on a mixed trading update, pub operator Mitchells & Butlers regained some fizz to climb back to where it was earlier in the week. Broker Canaccord said M&B continues to trade well versus its peers but on an absolute basis a fourth-quarter slowdown was disappointing, though the shares are changing hands for only seven times full year earnings.

Acacia Mining climbed almost 2% after revealing its third mine in Tanzania is likely to start generating cash again after positive results from a trial to increase the proportion of sellable gold bars. Having previously intended to end gold/copper concentrate production from the Buzwagi mine in the second quarter of 2018 due to the export ban on this material imposed by the Tanzanian government in March, positive trial results have led management to decide to solely produce gold doré bars from the mine until the end of its life in 2020.

FTSE 250 - Risers

Pets at Home Group (PETS) 206.50p 6.12%
Tullow Oil (TLW) 177.80p 4.04%
Mitchells & Butlers (MAB) 245.40p 3.81%
Wood Group (John) (WG.) 664.50p 3.02%
Amec Foster Wheeler (AMFW) 497.70p 2.87%
Indivior (INDV) 324.90p 2.78%
Wetherspoon (J.D.) (JDW) 1,264.00p 2.76%
Polymetal International (POLY) 828.50p 2.73%
Ultra Electronics Holdings (ULE) 1,774.00p 2.54%
Cairn Energy (CNE) 185.60p 2.54%

FTSE 250 - Fallers

FDM Group (Holdings) (FDM) 948.00p -2.92%
TBC Bank Group (TBCG) 1,637.00p -2.56%
Galliford Try (GFRD) 1,323.00p -2.43%
Daejan Holdings (DJAN) 5,830.00p -2.02%
JPMorgan Indian Investment Trust (JII) 709.50p -2.00%
Ferrexpo (FXPO) 285.60p -1.99%
Metro Bank (MTRO) 3,289.00p -1.56%
Marshalls (MSLH) 430.30p -1.28%
Millennium & Copthorne Hotels (MLC) 450.70p -1.23%
Evraz (EVR) 291.50p -1.22%