FTSE 250 movers: Cussons under the cosh; Supergroup storms risers charts

Poor US job numbers soured the investor mood at the end of the week and the FTSE 250 was trading lower in mid afternoon trade.

Dechra Pharmaceuticals fell after a downgrade by Jefferies, with the shares down 3.9%.

PZ Cussons was under the cosh on Friday after Canaccord Genuity cut the stock to ‘hold’ from ‘buy’, keeping the price target at 345p as it recommended taking profits ahead of the full-year update.

The brokerage noted that since the interim results on 26 January, the shares are up 37%, helped by a 57% rise in the oil price and outperforming the FTSE 250 index by 31%.

“We think risk from the scheduled full year trading update on 9th June is no better than equally weighted (with April's update stating that performance ‘overall...has been in line with expectations’), and would take profits in the light of the rerating and the lack of a near-term catalyst.”

Halfords shares were still deflated after disappointing full year numbers on Wednesday.

Supergroup led the risers after a Cannacord 'buy' rating. The shares rose 4.41%.

Miners were also in favour on the back of improved metal prices with Acacia Mining and Centamin on the rise. A positive move in the oil price beyond the $50 mark boosted Tullow Oil.

FTSE 250 (MCX) 17,063.26 -0.08%

FTSE 250 - Risers

Supergroup (SGP) 1,493.00p 4.41%
Acacia Mining (ACA) 320.00p 4.20%
Centamin (DI) (CEY) 103.20p 3.61%
Allied Minds (ALM) 348.00p 3.08%
Tullow Oil (TLW) 235.50p 2.08%
ICAP (IAP) 424.20p 2.07%
PayPoint (PAY) 974.50p 1.72%
Investec (INVP) 454.90p 1.70%
Serco Group (SRP) 108.50p 1.50%
AO World (AO.) 176.60p 1.49%

FTSE 250 - Fallers

Interserve (IRV) 322.50p -3.96%
Dechra Pharmaceuticals (DPH) 1,132.00p -3.90%
Ocado Group (OCDO) 268.20p -3.35%
PZ Cussons (PZC) 329.40p -3.26%
Halfords Group (HFD) 403.80p -2.53%
Zoopla Property Group (WI) (ZPLA) 308.50p -2.31%
John Laing Group (JLG) 218.00p -2.24%
CLS Holdings (CLI) 1,567.00p -2.06%
Polypipe Group (PLP) 313.90p -1.91%
IP Group (IPO) 163.20p -1.86%