FTSE 250 movers: PageGroup rallies on upgrade; Domino's slides

London’s FTSE 250 was down 0.5% to 17,983.53 in afternoon trade.

Recruiter PageGroup was the standout gainer after Kepler Cheuvreux lifted the stock to ‘hold’ from ‘reduce’.

Oil plays Tullow Oil and Hunting gained as oil prices advanced, while Electrocomponents got a boost as Citigroup upgraded the stock to ‘neutral’ from ‘sell’ and lifted the price target to 375p from 235p.

The bank said the upgrade was to reflect earnings per share upgrades and to recognise gross margin stabilisation, increased own brand penetration, cost streamlining efforts and greater client focus.

Bodycote was on the front foot after it appointed Dominique Yates as group finance director designate and executive director with effect from 2 January 2017.

He will succeed David Landless, who announced his intention to retire from the board in February after 17 years with the company. Landless will remain in post into the New Year to ensure an effective transition.

Countryside Properties rallied. The private and public partnerships housebuilder said its rate of sales completions slowed but remained robust in the fourth quarter, while its order book swelled to a record size as it eyed major potential to work in partnership with local authorities and housing associations.

On the downside, investors lost their appetite for Domino’s Pizza after the company reported a slowdown in growth at its UK operations, although it did confirm it is on track to meet full-year expectations.

Chief executive David Wild said: “As highlighted at our interim results in July we face tough comparatives in the second half of the year, but our continued investment in e-commerce, our international expansion and the launch of our new Italiano range taking us to new customers, will help drive performance for the remainder of the year.”

Sports Direct slumped as Cantor Fitzgerald cut its price target on the hold-rated stock to 260p from 320p after the company warned last week that full-year 2017 earnings would be hit by recent currency movements.

“The news is obviously disappointing as not many forecasters would have predicted such further falls in sterling against the dollar,” the brokerage said.

It also pointed to the fact SPD is radically changing its strategy, adding that this is not without risk.

Risers

Pagegroup (PAGE) 386.30p 5.00%
Tullow Oil (TLW) 277.20p 2.86%
Hunting (HTG) 562.50p 2.83%
Electrocomponents (ECM) 374.10p 2.77%
Mitie Group (MTO) 204.60p 2.40%
Bodycote (BOY) 635.00p 2.34%
DFS Furniture (DFS) 259.20p 2.13%
Countryside Properties (CSP) 235.60p 2.08%
Morgan Advanced Materials (MGAM) 299.80p 1.94%
Evraz (EVR) 213.00p 1.91%

Fallers

Domino's Pizza Group (DOM) 350.40p -5.98%
Sports Direct International (SPD) 281.60p -4.05%
Just Eat (JE.) 543.50p -3.55%
Brown (N.) Group (BWNG) 198.20p -3.32%
Pets at Home Group (PETS) 221.00p -2.60%
Grafton Group Units (GFTU) 487.00p -2.48%
Sophos Group (SOPH) 253.60p -2.42%
Woodford Patient Capital Trust (WPCT) 94.05p -2.34%
Mitchells & Butlers (MAB) 269.50p -2.32%
Polypipe Group (PLP) 274.20p -2.11%