FTSE 250 movers: Halfords moves ahead on Citi upgrade, Ferrexpo shares drop

Hunting

301.50p

16:35 14/11/24

2.20%

6.50p

As of 1600 BST, the FTSE 250 was down 0.12% as gains for the likes of Inmarsat and TalkTalk were offset by losses over at Ferrexpo.

Oil Equipment, Services & Distribution

4,928.34

16:30 25/09/24

0.00%

0.00

Inmarsat rose after it announced a dividend cut of 60% to allow investment in its in-flight WiFi business, a market the company hopes to take a large part of.

Halfords moved ahead as retailers were among the big movers in London on Friday after Citi adjusted its ratings on several stocks as part of a broader note on European general retail, upgrading Halfords to 'buy' from 'neutral' and lifting its price target to 375p from 350p, saying it offered exposure to underlying growth categories of cycling and motoring as well as robust cash generation.

Serco gained after its Middle East CEO, David Greer was presented a road safety award by Dr Abdullah Belhaif Al Nuaimi, the UAE's minister of infrastructure development.

On the other hand, Ferrexpo fell on its announcement that iron ore pellet production fell 1.6% to 2.57m tonnes from 2.61m tonnes for the same period the year before, and Hunting lost ground after Deutsche Bank issued it with a 'hold' rating.

Rank Group continued to drop after the firm issued a profit warning on Thursday, and Card Factory also declined on the back of a 'hold' from Peel Hunt.

FTSE 250 - Risers

Inmarsat (ISAT) 358.70p 5.38%
Drax Group (DRX) 291.00p 5.05%
IP Group (IPO) 126.84p 5.00%
TalkTalk Telecom Group (TALK) 123.80p 4.92%
FirstGroup (FGP) 93.83p 4.37%
Halfords Group (HFD) 345.40p 3.17%
Stagecoach Group (SGC) 140.70p 2.85%
Galliford Try (GFRD) 872.50p 2.59%
Hikma Pharmaceuticals (HIK) 1,214.50p 2.49%
Serco Group (SRP) 93.95p 2.12%