FTSE 250 movers: Premier and Page slide, JD scores gains
London’s FTSE 250 was down 0.7% at 18,410.02 late on Monday, with Premier Oil and PageGroup leading the retreat.
Premier Oil tumbled after confirming its interest in Chevron assets, following press reports that it was looking to drum up cash for the near-$1.5bn acquisition.
Recruiter PageGroup was sharply lower as it posted record profit for the fourth quarter, but only modest growth in the UK and a slowdown in China, sending fellow recruiter Hays lower as well.
Countryside Properties was weaker after JPMorgan cut the stock to 'underweight', while Dixons Carphone rolled back from its Friday jump.
On the upside, JD Sports Fashion surged to the top of the FTSE 250 as it said sales growth picked up pace over Christmas, with the retailer also encouraged by the performance in the US as it integrates its Finish Line acquisition.
Total like-for-like sales growth in the Sports Fashion for the 48 weeks to 5 January topped 5%, up from 4% in the first half of the year, while gross profit margins were maintained at prior year levels.
Dechra Pharmaceuticals also rose after reporting that trading was "strong" and in line with management expectations.
Southend airport owner Stobart continued flying high after its Friday capture of British regional airline Flybe in a consortium with Virgin Atlantic and Cyrus Capital Partners for 1p a share, valuing the company at £2.2m.
Meanwhile, EI Group made gains after Berenberg reiterated its 'buy' rating with a target price 220p, with the broker's analysts commenting that the pub chain "is set for a transformational year", with the sale of its commercial properties division set to bring in £348m.
Domino's Pizza Group also inched up after Numis reiterated its 'buy' rating in the stock. "The bear thesis, which has driven Domino's share price down 25% despite earnings unchanged, suggests the model is challenged by a fractious relationship with its franchisees and a lack of appetite for new store openings. We fundamentally disagree," said the note.
Market Movers
FTSE 250 (MCX) 18,320.37 -1.20%
FTSE 250 - Risers
JD Sports Fashion (JD.) 428.50p 8.15%
Stobart Group Ltd. (STOB) 166.14p 3.32%
Just Group (JUST) 97.50p 2.04%
Intu Properties (INTU) 111.95p 2.00%
Civitas Social Housing (CSH) 105.00p 1.94%
Drax Group (DRX) 396.60p 1.59%
EI Group (EIG) 202.50p 1.55%
Dechra Pharmaceuticals (DPH) 2,312.00p 1.31%
Renishaw (RSW) 4,126.00p 1.18%
Domino's Pizza Group (DOM) 267.40p 1.02%
FTSE 250 - Fallers
Premier Oil (PMO) 71.55p -9.95%
Pagegroup (PAGE) 426.20p -8.34%
Sanne Group (SNN) 537.00p -5.29%
Computacenter (CCC) 1,018.00p -4.86%
Countryside Properties (CSP) 314.40p -4.73%
OneSavings Bank (OSB) 363.59p -4.22%
Dixons Carphone (DC.) 126.30p -4.17%
Babcock International Group (BAB) 519.67p -4.05%
Superdry (SDRY) 518.00p -3.90%
Hays (HAS) 141.60p -3.80%