FTSE 250 movers: Mitchells & Butlers hit by double downgrade, miners lower

Mid-caps edged higher on Thursday, as an expected interest rate hike from the federal reserve was tempered by strength in the construction, automobile and banking sectors.

As of 15:30 BST, the FTSE 250 was trading 0.7% higher at 17,759.

Pub group Mitchells & Butlers topped the fallers after both Deutsche Bank and Numis Securities downgraded their rating on the stock to 'hold'. Deutsche Bank lowered its price target to 500p from 540p, citing "greater medium term pressure on cash flows".

Sector Peer JD Wetherspoon was also hit by negative sentiment from Deutsche Bank, with a similar downgrade to 'hold', extending Wednesday's losses, which came as it warned pre-tax profit was likely to be lower than the year before.

Lonmin and Kaz Minerals were trading in the red, tracking lower metal prices across the board.

Meanwhile Michael Page International was boosted as analysts at Deutsche Bank increased their price target on the stock from 420p to 530p.

Premier Oil extended Wednesday's gains, which came as Mexico's oil regulator awarded the second block in its initial offshore tender.

Risers
Cairn Energy (CNE) 177.50p +5.03%
Telecom Plus (TEP) 1,140.00p +4.78%
Foxtons Group (FOXT) 229.70p +3.75%
Rotork (ROR) 216.00p +3.35%
Petrofac Ltd. (PFC) 921.00p +3.02%
Michael Page International (MPI) 549.50p +2.81%
Bank of Georgia Holdings (BGEO) 2,017.00p +2.59%
Bodycote (BOY) 665.50p +2.54%
Big Yellow Group (BYG) 690.00p +2.53%
Indivior (INDV) 256.00p +2.52%

Fallers
Mitchells & Butlers (MAB) 404.60p -4.17%
Shawbrook Group (SHAW) 343.60p -3.21%
Brown (N.) Group (BWNG) 335.50p -2.92%
OneSavings Bank (OSB) 292.50p -2.82%
Restaurant Group (RTN) 676.50p -2.24%
Diploma (DPLM) 769.00p -2.10%
Lonmin (LMI) 79.65p -2.09%
Aldermore Group (ALD) 244.80p -1.88%
Jimmy Choo (CHOO) 158.00p -1.86%
Pets at Home Group (PETS) 294.60p -1.80%