FTSE 250 movers: Dixons Carphone rallies on results; Acacia loses its shine
London's FTSE 250 index was up 0.2% to 19,950.99 in afternoon trade as investors eyed the release of the latest FOMC minutes after the close.
Dixons Carphone rallied as it highlighted a 2% increase in fourth-quarter like-for-like revenue.
SIG was boosted by an upgrade to 'neutral' from 'sell' at UBS after the bank met with the new management team and said its first impressions were "positive". "Given upside risks of corporate action are balanced with downside risks of further share loss, we upgrade," it said.
National Express was in the black after JPMorgan Cazenove upped the stock to 'overweight' from 'neutral' saying worries over Spanish rendering are overdone and it expects fuel and forex tailwinds, along with acquisitions, to drive upgrades over the short and medium term.
ZPG was a high riser as the Zoopla and PrimeLocation owner reported a rise in first-half revenues and record traffic, although profit dipped on the back of acquisition-related costs, while Polypipe advanced as it said it was on track to meet 2017 expectations and announced the retirement of its chief executive.
Soft drinks maker Britvic was on the front foot as it posted an 11.5% jump in first-half revenue and said it was on track to deliver a full-year performance in line with market expectations.
Going the other way, Acacia Mining lost its shine after the Tanzania government accused the company of under-declaring the mineral content of its gold and copper exports, so the export ban on the company will continue.
Homeserve was under pressure as RBC Capital Markets cut the stock to 'sector perform' from 'outperform', saying the valuation is now prohibitive for new money given the strong run in the share price.
TalkTalk retreated as Goldman Sachs downgraded it to 'sell' from 'neutral' and cut the price target to 150p from 190p on valuation grounds as it took a look at the UK telecoms sector.
Wood Group and Amec Foster Wheeler gushed lower after the pair revealed connections to the Unaoil bribery scandal, which could put a spanner in the works of their deal. Details of the takeover revealed Amec is likely to be pulled into a criminal investigation by the SFO over alleged bribery corruption and money laundering by Monaco-based Unaoil, a scandal in which fellow FTSE 250 group Petrofac also recently became embroiled.
Risers
Dixons Carphone (DC.) 343.00p 5.02%
SIG (SHI) 151.60p 4.55%
National Express Group (NEX) 373.80p 3.00%
Rank Group (RNK) 216.20p 2.95%
ZPG Plc (ZPG) 367.80p 2.71%
Polypipe Group (PLP) 437.40p 2.51%
Britvic (BVIC) 719.50p 2.35%
Ascential (ASCL) 348.70p 2.20%
Sanne Group (SNN) 664.00p 2.15%
Entertainment One Limited (ETO) 242.30p 2.06%
Fallers
Acacia Mining (ACA) 346.30p -20.17%
Softcat (SCT) 418.60p -8.52%
Homeserve (HSV) 746.50p -3.99%
Big Yellow Group (BYG) 766.00p -3.59%
Wood Group (John) (WG.) 737.00p -3.09%
TalkTalk Telecom Group (TALK) 177.40p -3.01%
Petrofac Ltd. (PFC) 616.50p -2.45%
Hochschild Mining (HOC) 280.20p -2.34%
Amec Foster Wheeler (AMFW) 530.50p -2.21%
AO World (AO.) 143.50p -2.11%