FTSE 250 movers: Weir weaker, Electrocomponents buzzing

The FTSE 250 was pulled lower by weaker resource sector stocks on Tuesday afternoon, with the mid-cap index down 0.8% to 16,711.68 at 1400 BST.

Oil services company Weir Group fell 6% in sympathy with the sector amid investor concerns about the global economy and falling commodities prices.

Vendanta Resources and Evraz were also lower on global investor worries.

On the positive side of the ledger, Electrocomponents shares rose almost 10% as the company said it expected full year profits to hit the top end of market expectations, following a solid fourth quarter in which the UK recovery gained pace.

Encouragingly, third-quarter declines in North America eased off and continental Europe remained on the charge to counterbalance Asian declines and enable 2% growth in group fourth quarter sales and 3% for the full year.

Numis upgraded its price target to 295p from 275p and reiterated its ‘buy’ rating on Monday following a trading update.

Investors were also cheered by good full year results at greeting card maker Card Factory, where pre-tax profits almost doubled to £83.7m driven by strong sales and new store openings.

Revenues were up 8% to £381.6m, with sales at the Getting Personal online unit up 7.5%.

FTSE 250 - Risers

Electrocomponents (ECM) 266.80p 9.98%
DFS Furniture (DFS) 325.00p 4.17%
Zoopla Property Group (WI) (ZPLA) 249.90p 3.18%
Card Factory (CARD) 339.40p 3.00%
Jimmy Choo (CHOO) 129.30p 2.70%
Rank Group (RNK) 250.00p 2.29%
CLS Holdings (CLI) 1,485.00p 2.06%
Ibstock (IBST) 203.60p 1.75%
Hastings Group Holdings (HSTG) 171.50p 1.72%
Lookers (LOOK) 156.90p 1.69%

FTSE 250 - Fallers

Allied Minds (ALM) 419.70p -7.53%
Weir Group (WEIR) 1,011.00p -6.04%
Vedanta Resources (VED) 325.40p -4.57%
Amec Foster Wheeler (AMFW) 419.70p -4.33%
International Personal Finance (IPF) 274.50p -4.16%
Aberdeen Asset Management (ADN) 264.50p -3.99%
ICAP (IAP) 457.60p -3.89%
Evraz (EVR) 87.60p -3.52%
AA (AA.) 253.90p -3.42%
Morgan Advanced Materials (MGAM) 216.30p -3.39%