FTSE 250 movers: Just Eat benefits over rivals loss while Tullow oil slips

FTSE 250 index fell by 0.57% to close at 17,544.24.

Just Eat, a UK based online takeaway platform, benefitted on the back of Uber’s loss in a fight over employees rights last week sending its shares up. Deutsche Bank have rated the company at “Buy” and upgraded the price target from 535p to 725p.

“If the tribunal decision is confirmed we think these players could be faced with cost base inflation impedig their ability to compete. With its media only non delivery model Just Eat is not impacted by this issue and is best positioned in the online food ordering industry,” said the analysts.

Hunting, an oilfield services provider, got a boost as Deutsche Bank upgraded its price target on the shares from 560p to 600p and maintained its “Buy” rating. US onshore drilling activity has gone up due to higher oil prices and in turn has translated into increased orders and profitability. “Hunting's recently enhanced financial capacity (via the placing proceeds) to respond to and fully capitalise upon the meaningful upswing in activity,” said analysts at the bank.

Tullett Prebon, an inter-dealer money broker, is currently involved in a probe by the US government into foreign exchange (FX) rate manipulation according to a report by Bloomberg. Despite this, Numis continued to rate the company at “buy” with a price target of 450p as they estimated that the company’s FX options trading makes up only around 10% of the firm´s revenues.

Meanwhile, stock in oil explorer Tullow oil was down as oil prices continued to fall due to slow progress at OPEC’s meeting this weekend. Brent fell 3.04% to $48.24 per barrel and WTI fell 2.5% to $47.51 per barrel.

FTSE 250 - Risers

Just Eat (JE.) 560.50p 4.77%
Euromoney Institutional Investor (ERM) 1,074.00p 3.87%
Investec (INVP) 510.00p 2.41%
BBA Aviation (BBA) 258.90p 2.09%
Hunting (HTG) 503.00p 2.05%
DFS Furniture (DFS) 259.20p 2.01%
P2P Global Investments (P2P) 827.00p 1.97%
Tullett Prebon (TLPR) 356.20p 1.71%
CLS Holdings (CLI) 1,580.00p 1.61%
Drax Group (DRX) 317.10p 1.50%

FTSE 250 - Fallers

Tullow Oil (TLW) 266.10p -5.30%
Kaz Minerals (KAZ) 283.30p -4.36%
NCC Group (NCC) 189.40p -4.34%
Laird (LRD) 145.70p -3.51%
FirstGroup (FGP) 110.50p -2.64%
Berendsen (BRSN) 963.50p -2.18%
Brown (N.) Group (BWNG) 190.10p -2.16%
International Personal Finance (IPF) 293.60p -2.13%
Go-Ahead Group (GOG) 2,069.00p -2.13%
esure Group (ESUR) 274.10p -2.11%