FTSE 250 movers: Ted Baker higher on research note, Amec under pressure

The FTSE 250 edged lower on Friday afternoon, as investors digested worse-than-expected eurozone manufacturing data.

Property investor CLS Holdings was up sharply in afternoon trading, two days after it received acceptances for a share buyback tender offer for 239,396 shares at 1,810p each. The company was buying one in every 57 shares and cancelling them, resulting in £13.4m being paid by the company to participating shareholders.

Ted Baker was also up, having been under pressure for much of the year and recently being hit with a ‘sell’ rating from Panmure Gordon, even though it reported a 20% rise in annual profits. Analysts at its house broker Liberum issued a ‘buy’ note on Friday and raised its target price to £37 from £31.

Amec Foster Wheeler was among the losers, despite winning the 2016 Merit Award for Studies and Research from Consulting Engineers of Ontario overnight. It did have its ‘underperform’ rating reiterated by analysts at Jefferies Group on Thursday, with the research indicating a potential downside of 37.79% from its closing price on Wednesday.

Plastics and fibre products supplier Essentra was also under pressure, in the face of a positive research note from Numis Securities on Friday. Analysts at Numis gave the stock a ‘buy’ rating in its maiden report on the firm, with a 1060p price target on the stock - a potential upside of 18.97% on its previous close.

FTSE 250 - Risers

CLS Holdings (CLI) 1,604.00p 6.23%
Ted Baker (TED) 2,401.00p 5.77%
Clarkson (CKN) 2,465.00p 3.88%
Ophir Energy (OPHR) 83.00p 3.43%
AO World (AO.) 176.60p 2.97%
Jimmy Choo (CHOO) 128.00p 2.40%
QinetiQ Group (QQ.) 225.10p 2.36%
Hastings Group Holdings (HSTG) 182.30p 2.36%
Telecom Plus (TEP) 899.00p 2.33%
Keller Group (KLR) 854.00p 2.28%

FTSE 250 - Fallers

Mitchells & Butlers (MAB) 272.10p -3.82%
Amec Foster Wheeler (AMFW) 489.40p -3.66%
Essentra (ESNT) 859.50p -3.54%
Petrofac Ltd. (PFC) 875.00p -2.94%
Evraz (EVR) 139.80p -2.51%
Vedanta Resources (VED) 424.30p -2.50%
Smith (DS) (SMDS) 387.00p -2.47%
Melrose Industries (MRO) 382.40p -2.42%
Victrex plc (VCT) 1,542.00p -2.41%
Hays (HAS) 129.90p -2.40%