FTSE 250 movers: TP ICAP surges, Dixons drops
London's second-tier was 0.30% higher at 20,081.72 in afternoon trade on Friday, with TP ICAP leading the index upward.
The firm of professional intermediaries was a high riser after it posted a 17% jump in third-quarter revenues to £478m and backed its guidance for the year.
Shore Capital analysts said: "While we acknowledge geopolitical and macroeconomic uncertainty has supported volatility and TCAP’s trading conditions, yield curves having already moved sharply, and that these supports could continue in the near-term, we remain unenthused by TCAP’s fundamental investment case which essentially reflects weak revenue visibility and structural price pressures."
Home emergency repairs business Homeserve rallied on the back of an upgrade to 'add' at Peel Hunt, while Aston Martin Lagonda was on the rise ahead of the release of its third quarter results next week.
Elementis crept upwards as Berenberg analysts cut the stock's price target from 210p to 200p but restated their 'buy' rating and commented that the specialty chemicals company's story was one of fundamental undervaluation and self-help-led recovery.
Down at the other end of the index, Dixons led the fallers and Crest Nicholson was in the red again after a profit warning on Thursday.
UBS analysts downgraded the housebuilder's rating to 'neutral' from 'buy', arguing that there is not sufficient value in absolute and relative terms.
Euromoney Institutional Investor also fell after analysts from the Swiss investment bank cut their rating of the stock from 'buy' to 'neutral'.
Inchcape was weaker after fellow car dealership Lookers warned that annual profit was set to fall sharply - its second profit warning in less than four months.
CMC Markets analyst Michael Hewson said: "Heavy discounting along with concerns about diesels has seen motor retailers margins come under increasing pressure, and this morning’s news from Lookers would appear to show there is little sign of a let up in margin pressure."
FTSE 250 (MCX) 20,081.72 0.30%
FTSE 250 - Risers
TP ICAP (TCAP) 369.50p 7.76%
IP Group (IPO) 59.60p 6.43%
Sirius Minerals (SXX) 3.04p 5.78%
Homeserve (HSV) 1,205.00p 3.97%
Riverstone Energy Limited (RSE) 458.45p 3.84%
Fisher (James) & Sons (FSJ) 2,010.00p 3.40%
Kainos Group (KNOS) 523.99p 3.15%
Aston Martin Lagonda Global Holdings (AML) 411.80p 3.13%
Hochschild Mining (HOC) 206.20p 3.00%
Elementis (ELM) 153.00p 2.89%
FTSE 250 - Fallers
Dixons Carphone (DC.) 126.25p -3.81%
Crest Nicholson Holdings (CRST) 375.80p -3.24%
Euromoney Institutional Investor (ERM) 1,368.00p -3.12%
Marks & Spencer Group (MKS) 176.00p -3.03%
Micro Focus International (MCRO) 1,029.40p -2.89%
Inchcape (INCH) 626.50p -2.87%
OneSavings Bank (OSB) 352.40p -2.11%
Bakkavor Group (BAKK) 116.00p -2.03%
Babcock International Group (BAB) 544.00p -1.81%
Pets at Home Group (PETS) 202.60p -1.75%