FTSE 250 movers: Hunting heads higher on results; Hays in the red

London's FTSE 250 was down 0.2% to 20,704.89 in afternoon trade on Thursday.

Recruiter Hays fell even as it reported a 17% jump in full-year profit and boosted its dividend after a "landmark" year that saw solid growth in its international businesses, as its performance in the UK was more subdued.

Intu Properties was weaker as Morgan Stanley cut the stock to 'underweight' from 'equalweight' and reduced the price target on the stock.

"Our new price target, which reflects the rapid deterioration in the UK retail landscape in combination with the group's loan-to-value ratio, implies 7% downside risk. This leads us to downgrade the stock to underweight," MS said.

IWG, formerly Regus, was under the cosh after RBC Capital Markets cut the stock to 'underperform' from 'sector perform' and trimmed the price target to 200p from 220p, saying the risk/reward was unfavourable.

RBC said that while it likes the market position and long-term fundamentals, earnings per share momentum has been negative, private equity bids have not been forthcoming and management credibility remains low.

Hammerson and Centamin retreated as their stock went ex-dividend.

On the upside, oilfield services provider Hunting was the standout gainer after saying it swung to a profit in the six months to the end of June and reinstating its dividend.

Bellway was also in the green as Deutsche Bank upped it to 'buy' from 'hold' and lifted the price target to 3,745p from 3,716 as it took a look at the UK housebuilding sector.

DB said that with a strong reputation and more than 20% net tangible asset value growth per annum to 2020, the current share price is a good entry point into Bellway.

FTSE 250 - Risers

Hunting (HTG) 875.00p 15.36%
Go-Ahead Group (GOG) 1,701.05p 5.07%
FirstGroup (FGP) 91.15p 4.59%
Diploma (DPLM) 1,456.00p 4.37%
Clarkson (CKN) 2,855.00p 3.44%
Premier Oil (PMO) 120.55p 3.21%
TI Fluid Systems (TIFS) 284.20p 2.90%
Greene King (GNK) 484.88p 2.56%
Tullow Oil (TLW) 234.70p 2.49%
Bellway (BWY) 2,954.00p 2.21%

FTSE 250 - Fallers

Hays (HAS) 193.50p -4.59%
Hammerson (HMSO) 471.00p -4.35%
IWG (IWG) 229.10p -4.02%
RPC Group (RPC) 714.40p -3.51%
Intu Properties (INTU) 156.40p -3.31%
Centamin (DI) (CEY) 102.17p -3.29%
Computacenter (CCC) 1,412.00p -2.75%
Sanne Group (SNN) 628.00p -2.64%
Bakkavor Group (BAKK) 183.20p -2.55%
Capital & Counties Properties (CAPC) 258.00p -2.27%