FTSE 250 movers: Clarkson climbs, 888 loses

London's FTSE 250 index was 0.35% higher at 18,959.55 in afternoon trade on Thursday, with Clarkson recovering to lead the index higher after yo-yoing throughout the week.

The shipping services provider could have been boosted by upbeat sentiment on the sector on the back of the "unprecedented" proposals made by China to Washington on various trade and economic issues, according to a Reuters report that cited a US official.

Hochschild Mining climbed after UBS hiked its target price from 200p to 215p, while JD Sports was added to Credit Suisse's 'investing for growth' equity theme.

At the other end of the pitch 888 Holdings, Kier, Bovis Homes and Go-Ahead were all lower as they went ex-dixidend.

Metro Bank dropped after being initiated at 'underweight' at Barclays with a target price of 650p, with the stock's shares having now more than halved in value so far this year.

Barclays analysts pointed out that their earnings estimates were substantially below the rest of the City, seeing "risks around further equity injections given weak profits/high growth", expressing cautious on rising funding costs and worrying that margin pressures "may require a brake on growth [which] potentially sits at odds with the company’s growth commitments".

Similarly, Babcock International was lower after JPMorgan analysts cut its price target from 955p to 772p.

Finally, motor insurance underwriter Sabre Insurance was weaker as it said full-year adjusted profit before tax decreased 3.1% to £61.9m, but statutory PBT was up 10.6% to £61.4m.

Analysts at Canaccord said: "The group continues to generate strong capital returns despite the more difficult trading and this is reflected by a solvency ratio post the dividend of 161% (target range is 140%-160%). We believe that it will use this to support the dividend in a soft market, which is positive for the ongoing yield potential. We note that Sabre remains relatively cautious on the trading outlook with ongoing competitive conditions and continued 'uncertainty'."

Market Movers

FTSE 250 (MCX) 18,959.55 0.35%

FTSE 250 - Risers

Clarkson (CKN) 2,480.00p 7.59%
NewRiver REIT (NRR) 235.82p 5.04%
Games Workshop Group (GAW) 3,100.00p 4.38%
JD Sports Fashion (JD.) 500.80p 4.29%
Bakkavor Group (BAKK) 120.00p 3.65%
Hochschild Mining (HOC) 205.10p 3.09%
Equiniti Group (EQN) 206.50p 2.99%
Senior (SNR) 213.20p 2.90%
Hill & Smith Holdings (HILS) 1,198.00p 2.74%
Syncona Limited NPV (SYNC) 249.00p 2.68%