FTSE 250 movers: Euromoney up on UBS note; BBA Aviation hit by Citi downgrade
London's FTSE 250 was up 0.2% to 19,737.27 in afternoon trade as market participants mulled over Emmanuel Macron's victory in the French election.
Euromoney Institutional Investor was a high riser as UBS initiated coverage of the stock at 'neutral' with a 1,135p price target.
Mining stocks retreated following uninspiring data from China, which showed exports rose 14.3% from the year before in yuan terms in April, following a 22.3% jump in March, while imports were up 18.6% compared to a 26.3% increase the month before. Economists had expected a rise of 16.8% and 29.3%, respectively.
Kaz Minerals, Vedanta Resources, Centamin and Evraz fell.
BBA Aviation was weaker as Citigroup cut its stance on the stock to 'neutral' from 'buy' and trimmed the target price to 330p from 340p, saying its trading update for the first four months of the year was slightly behind the bank's expectations.
"Following the 66% rise in share price over the past 12 months, we see our favourable outlook for Signature as now being mostly captured in the current valuation," it said, hence the downgrade.
TalkTalk was under pressure following a press report over the weekend suggesting it will cut its dividend in its annual results on Wednesday. The Telegraph said city analysts have speculated that almost half of the company's dividend could be sacrificed as chairman Charles Dunstone looks to bring debt under control.
Risers
CLS Holdings (CLI) 203.90p 5.05%
Restaurant Group (RTN) 342.80p 4.48%
Hunting (HTG) 555.00p 3.16%
Euromoney Institutional Investor (ERM) 1,070.00p 2.39%
IP Group (IPO) 141.70p 2.31%
Pennon Group (PNN) 867.50p 2.12%
Mitchells & Butlers (MAB) 272.70p 2.02%
Derwent London (DLN) 2,907.00p 2.00%
Savills (SVS) 948.50p 1.99%
Wizz Air Holdings (WIZZ) 1,835.00p 1.94%
Fallers
Kaz Minerals (KAZ) 418.20p -6.15%
Vedanta Resources (VED) 595.00p -5.18%
BBA Aviation (BBA) 302.30p -3.66%
Just Eat (JE.) 556.00p -3.64%
Cobham (COB) 135.20p -3.15%
TalkTalk Telecom Group (TALK) 185.90p -2.97%
NMC Health (NMC) 2,077.00p -2.94%
UDG Healthcare Public Limited Company (UDG) 741.00p -2.56%
Centamin (DI) (CEY) 153.50p -2.48%
Evraz (EVR) 202.20p -2.27%