FTSE 250 movers: Supergroup soars on RBC upgrade, Lonmin lower after Exane downgrade

SuperGroup was trading higher as RBC Capital Markets raised its rating on the clothing chain. The broker, which hiked its recommendation to 'outperform' from 'sector perform', also increased its price target to 1,150p on high hopes for the newly appointed management team.

Vedanta Resources was boosted as investors anticipate another Chinese stimulus, which could drive construction and therefore demand for metals.

Energy stocks such as Soco International and Hunting were bolstered by stronger oil prices, which remained at a four-month high.

Shares in Tullow Oil reversed from early gains on weekend reports that the International Tribunal for the Law of the Seas ruled in its favour, allowing the outfit to continue with its exploration activities offshore Ivory Coast.

Lonmin was also in the red as analysts at Exane BNP Paribas dramatically cut their price target for the stock from 260p to 133p. Analysts cut their platinum price estimates by 25% in the current year and 23% in the next, reflecting the view that "platinum/rhodium prices are likely to remain no more than a function of marginal production costs in the short/medium term, with recurring risks of a margin squeeze for platinum producers owing to unabated inflationary pressure in South Africa".

Zoopla was trading lower on looming election uncertainty, as Labour's 'mansion tax' threatens to affect the property group's premium trade.

Risers
Supergroup (SGP) 992.00p +5.03%
Vedanta Resources (VED) 654.50p +3.64%
UBM (UBM) 567.00p +3.47%
Ocado Group (OCDO) 353.20p +3.21%
IMI (IMI) 1,260.00p +2.94%
Balfour Beatty (BBY) 247.20p +2.40%
Tate & Lyle (TATE) 619.50p +2.40%
Britvic (BVIC) 759.50p +2.01%
Ashmore Group (ASHM) 311.20p +1.93%
Greggs (GRG) 1,116.00p +1.92%

Fallers
Tullow Oil (TLW) 405.90p -2.89%
Telecom Plus (TEP) 790.00p -2.65%
Polymetal International (POLY) 537.50p -2.54%
Serco Group (SRP) 131.60p -2.45%
Just Retirement Group (JRG) 171.00p -2.29%
Centamin (DI) (CEY) 60.00p -2.20%
Imagination Technologies Group (IMG) 205.80p -2.19%
Acacia Mining (ACA) 286.40p -2.02%
Paragon Group Of Companies (PAG) 428.60p -1.94%
Saga (SAGA) 186.40p -1.89%