FTSE 250 movers: Dunelm rallies as sales rise; Pagegroup under pressure

London's FTSE 250 was up 0.1% to 20,163.11 in afternoon trade on Wednesday, with Dunelm in the lead after a well-received update.

Dunelm was top of the gainers after the homeware retailer reported a 9.3% jump in total like-for-like sales for the 13 weeks to 30 September, boosted by favourable weather comparatives and “strong” growth across the business, especially online.

On the downside, though, it also said that the addition of Worldstores - which it bought last November – hit margins.

IWG rose as Credit Suisse upped its earnings per share estimates on the outperform-rated stock to reflect a higher EBIT yield on the increasing proportion of partnership deals within the group's investment plans.

"IWG is a cash generative growth business in a structurally growing end market. Its clear market-leading position and scalable business model provide significant opportunity to self-fund expansion in its network, generate value, as incremental cash invested generates 20%+ returns once centres mature and to grow its EBIT."

Polymetal was on the front foot after reporting a "significant" increase in ore reserves at its Komar gold deposit in Kazakhstan.

On the downside, recruiter Pagegroup fell sharply despite saying it generated-higher-than expected profits in the third quarter as continental Europe, the Americas and Asia all delivered strong performances to offset weakness in the UK.

Provident Financial took a tumble after Barclays said it lacked confidence in the turnaround of the subprime lender's home credit business. Ahead of Provident's third quarter trading update on 13 October, Barclays downgraded the stock to an 'underweight' rating and cut its price target to 584p from 600p.

Risers

Dunelm Group (DNLM) 743.00p 5.99%
IWG (IWG) 323.90p 2.60%
Sports Direct International (SPD) 399.70p 2.51%
JD Sports Fashion (JD.) 373.30p 2.22%
Evraz (EVR) 317.90p 2.15%
Ted Baker (TED) 2,802.00p 1.89%
Domino's Pizza Group (DOM) 335.60p 1.88%
Polymetal International (POLY) 878.50p 1.86%
Bovis Homes Group (BVS) 1,155.00p 1.85%
Melrose Industries (MRO) 224.70p 1.81%

Fallers

Pagegroup (PAGE) 485.20p -7.67%
Provident Financial (PFG) 794.00p -5.08%
Inmarsat (ISAT) 619.50p -3.95%
Ferrexpo (FXPO) 264.50p -3.50%
Capita (CPI) 552.50p -2.99%
Smith (DS) (SMDS) 486.70p -2.85%
Hays (HAS) 190.20p -2.16%
Telecom Plus (TEP) 1,187.00p -2.14%
Millennium & Copthorne Hotels (MLC) 563.00p -2.09%
FirstGroup (FGP) 112.70p -2.00%