FTSE 250 movers: Stobart flying high, UDG health questioned

London’s FTSE 250 finished up 0.1% at 18,435.62 on Friday, as Stobart led the way after its capture of Flybe.

Southend airport owner Stobart was the top gainer as it teamed up with Virgin Atlantic and Cyrus Capital Partners to buy British regional airline Flybe for 1p a share, valuing the company at £2.2m.

Hunting also rose after JPMorgan raised it to 'overweight' and upped its target price from 721p to 729p, while builders merchant Grafton rallied after saying it expects adjusted profits for 2018 to be slightly ahead of the top end of analyst expectations.

Dixons Carphone climbed after analysts at HSBC stated that the retailer presented a "detailed and clear strategy" with realistic targets that could create "substantial value" on a five-year view, though still lowered their target price.

At the other end of the spectrum, UDG Healthcare was the top faller after Jefferies downgraded the clinical and packaging service provider from 'buy' to 'hold', also cutting its price target from 765p to 620p.

Oil services group Hastings dropped after it announced that Richard Hoskins, who had been with the business since April 2015, was retiring as group chief financial officer.

Halfords continued to fall after it warned the previous day that underlying pre-tax profit for its current financial year would be lower than it had recently guided.

Finally, Sports Direct edged lower after boss Mike Ashley engineered a coup at the Debenhams AGM to oust chief executive Sergio Bucher and chairman Ian Cheshire. Ashley teamed up with Milestone Resources, the third largest investor in the embattled department store group.

Market Movers

FTSE 250 (MCX) 18,514.98 0.43%

FTSE 250 - Risers

Stobart Group Ltd. (STOB) 160.00p 6.67%
Cairn Energy (CNE) 184.60p 5.19%
Hunting (HTG) 553.00p 4.24%
Grafton Group Units (GFTU) 729.00p 4.14%
Merlin Entertainments (MERL) 339.70p 3.82%
Domino's Pizza Group (DOM) 263.40p 3.50%
Dixons Carphone (DC.) 131.40p 3.46%
Crest Nicholson Holdings (CRST) 357.40p 3.35%
Softcat (SCT) 685.00p 3.32%
OneSavings Bank (OSB) 381.80p 3.24%

FTSE 250 - Fallers

UDG Healthcare Public Limited Company (UDG) 590.50p -5.75%
Ted Baker (TED) 1,851.00p -5.42%
Just Group (JUST) 92.15p -5.15%
Hastings Group Holdings (HSTG) 193.45p -3.76%
CYBG (CYBG) 181.90p -3.45%
Just Eat (JE.) 609.22p -3.36%
Halfords Group (HFD) 211.00p -2.68%
Genus (GNS) 2,314.00p -1.95%
Sports Direct International (SPD) 268.70p -1.83%
IMI (IMI) 961.00p -1.69%