FTSE 250 movers: Acacia and Cairn diverge on Credit Suisse ratings

The FTSE 250 lost its early gains on Thursday, down by 0.18% at 17,614.36 just before the close with a mixed bag of sectors tugging the index to and fro.

Acacia Mining was lifted by positive comment from Credit Suisse, which in a "stress test" of its European gold coverage for lower prices picked out the company along with Randgold as being "well-positioned" relative to global peers. "Our analysis suggests both companies will remain FCF positive and net cash for the next three years. Acacia (OP TP £3.70) remains preferred due to its FCF growth potential and cheap valuation."

Howden Joinery led the fallers after it posted a rise in first-half revenue but disappointed with operating profits.

After a small slide on results on Wednesday, TalkTalk was knocked lower by a downgrade from analysts at Macquarie. The Aussie bank moved it rating to ‘neutral’ from ‘outperform’ but said it was positively biased towards TalkTalk but struggling with current valuations.

Cairn Energy was lower as Credit Suisse analysts again proved a big influence on London stock prices. The Swiss bank initiated with an 'underperform' rating and a target price of 185p.

FTSE 250 - Risers
AO World (AO.) 129.00p +6.17%
Acacia Mining (ACA) 243.00p +4.43%
Ted Baker (TED) 3,200.00p +3.53%
Aldermore Group (ALD) 278.30p +3.23%
Spectris (SXS) 1,981.00p +2.91%
John Laing Group (JLG) 224.90p +2.65%
Centamin (DI) (CEY) 55.05p +2.51%
CLS Holdings (CLI) 1,875.00p +2.40%
Shawbrook Group (SHAW) 324.00p +2.27%
Bwin.party Digital Entertainment (BPTY) 108.40p +2.26%

FTSE 250 - Fallers
Howden Joinery Group (HWDN) 484.20p -6.53%
TalkTalk Telecom Group (TALK) 337.70p -5.06%
Cairn Energy (CNE) 164.30p -3.47%
Kaz Minerals (KAZ) 180.50p -3.01%
Euromoney Institutional Investor (ERM) 1,112.00p -2.37%
Drax Group (DRX) 264.40p -2.29%
Premier Oil (PMO) 137.10p -2.28%
Ashmore Group (ASHM) 281.10p -2.16%
Tullow Oil (TLW) 253.60p -2.16%
Tate & Lyle (TATE) 510.50p -1.92%