FTSE 250 movers: Booker gains on JPM note, commodity stocks slide

London’s mid-cap index was down 1.4% to 16,834.66 at 1611 BST, with commodity stocks pacing the decline as a disappointing nonfarm payrolls report exacerbated worries about a global economic slowdown.

Booker was on the front foot as JPMorgan Cazenove raised its price target on the stock to 200p from 174p after the Competition and Markets Authority said on Tuesday that it was approving the Booker-Musgrave deal. “We are looking forward to receiving an update on management’s plans to develop the acquired business and the potential implications of the strategy on the underlying business,” it said.

Wizz Air flew higher for a second day. On Thursday, the low cost airline said it continued to see strong passenger numbers in August, with growth of 19% to 1.99m passengers. That pushed the company’s load factor up to 93.2% from 92.2% in July. In the 12 months to August, passenger numbers jumped 20% to hit 17.996m.

It also benefited from an initiation of the stock on Thursday by UBS. It started Wizz at ‘buy’, noting that it has a strong track record of growing traffic and profits.

More generally, mining stocks were down as metals prices fell across the board, with Vedanta Resources, Kaz Minerals and Lonmin all trading lower.

Both oil and metals-related shares were seemingly under the cosh on short-covering ahead of the weekend. Tullow Oil, Premier Oil, Hunting and Cairn Energy all pushed lower.

Risers

Moneysupermarket.com Group (MONY) 338.20p +1.41%

Booker Group (BOK) 178.60p +1.36%

Daejan Holdings (DJAN) 6,085.00p +1.33%

Spire Healthcare Group (SPI) 355.40p +1.14%

UK Commercial Property Trust (UKCM) 87.35p +0.98%

BBA Aviation (BBA) 297.00p +0.95%

Go-Ahead Group (GOG) 2,421.00p +0.83%

OneSavings Bank (OSB) 375.00p +0.81%

Wizz Air Holdings (WIZZ) 1,775.00p +0.80%

John Laing Infrastructure Fund Ltd (JLIF) 119.90p +0.67%

Fallers

Vedanta Resources (VED) 513.50p -12.00%

Kaz Minerals (KAZ) 150.40p -7.73%

Tullow Oil (TLW) 200.40p -6.92%

Lonmin (LMI) 27.17p -6.18%

Premier Oil (PMO) 96.15p -5.55%

Hunting (HTG) 468.50p -5.51%

Euromoney Institutional Investor (ERM) 986.50p -5.14%

Serco Group (SRP) 106.00p -4.76%

Amec Foster Wheeler (AMFW) 781.00p -4.35%

Cairn Energy (CNE) 140.50p -3.90%