FTSE 250 movers: Rotork boosted by upgrade; JD Sports goes ex-div
London's FTSE 250 down 0.1% to 19,664.53 in afternoon trade.
Hochschild trotted higher as gold prices rallied, while manufacturer Rotork got a boost as Morgan Stanley double-upgraded its stance on the stock to 'overweight' from 'underweight' and bumped up the price target to 292p from 250p.
"Rotork generates 86% of sales from Process markets with its growth, multiples and EBITA margins closely correlated; we see Rotork as a key beneficiary of this improving spend," it said.
Building products supplier SIG was also given a leg up by an upgrade, as Stifel lifted stock to 'buy' from 'hold' and hiked the price target to 170p from 105p.
"After a challenging two years we see considerable potential for a recovery. We are impressed by the new management team and expect it to utilise its wealth of turnaround experience to improve operational execution, drive efficiencies and build on SIG’s market-leading positions.
"Whilst markets will remain competitive we see limited downside to depressed earnings with leverage reduction a key near-term catalyst to improving sentiment."
JD Sports and Paypoint were in the red as their stock went ex-dividend, while Kaz Minerals lost ground as Deutsche Bank cut its target price on the stock to 350p from 370p in its latest research note on EMEA Mining.
Risers
Evraz (EVR) 186.40p 6.21%
Hochschild Mining (HOC) 282.80p 4.86%
AA (AA.) 220.10p 4.12%
Aveva Group (AVV) 2,054.00p 4.11%
Rotork (ROR) 242.50p 3.72%
Sophos Group (SOPH) 461.80p 3.33%
Indivior (INDV) 335.00p 2.63%
SIG (SHI) 149.10p 2.54%
NMC Health (NMC) 2,329.00p 2.37%
Rank Group (RNK) 237.50p 2.24%
Fallers
Aldermore Group (ALD) 215.00p -4.78%
JD Sports Fashion (JD.) 400.10p -3.75%
Paragon Group Of Companies (PAG) 426.40p -3.59%
Kaz Minerals (KAZ) 464.10p -3.23%
Tullow Oil (TLW) 143.80p -3.23%
Petra Diamonds Ltd.(DI) (PDL) 114.00p -2.98%
RPC Group (RPC) 715.00p -2.85%
Carillion (CLLN) 190.20p -2.66%
PayPoint (PAY) 955.00p -2.65%
Halfords Group (HFD) 342.50p -2.37%