FTSE 250 movers: UDG healthcare gains but housebuilders retreat on BBA data
London’s FTSE 250 index was down 1.2% to 17,716.09 in afternoon trade.
Housebuilders were under the cosh after data from the British Banking Association showed loans for house purchases fell to a new 19-month low of 36,997 in August from the revised previous figure of 37,672 a month before. Economists had expected 37,100 loans.
Crest Nicholson, Redrow and Bovis Homes were all firmly in the red.
Recruiter Hays slumped after RBC Capital Markets downgraded the stock to ‘sector perform’ from ‘outperform’ as it has performed well and is now near its 140p price target.
It pointed out that the stock has enjoyed a nice bounce and is one of the better-performing staffers year-to-date.
Still, it remained fairly upbeat on the stock, saying that although UK trading is expected to be tough, this will likely be offset by Europe and Australia.
UDG Healthcare bucked the trend after announcing that Chris Corbin, the chief executive officer of its largest division, Ashfield Commercial & Medical Services, will retire in April 2019.
In preparation for his retirement, Corbin will transition to the role of chairman of Ashfield once his successor has been appointed.
The FTSE 250 healthcare services provider said this will facilitate a phased transition of his responsibilities over the next two and half years. In addition, he will stay on as a member of the board of directors of until his retirement.
Gold miner Centamin was also in the black after CI Capital raised its stance on the stock to ‘overweight’.
Risers
UDG Healthcare Public Limited Company (UDG) 635.50p 1.52%
NMC Health (NMC) 1,417.00p 1.43%
AO World (AO.) 162.90p 1.37%
Hochschild Mining (HOC) 289.80p 1.05%
Centamin (DI) (CEY) 149.80p 1.01%
Hastings Group Holdings (HSTG) 228.90p 0.88%
Redefine International (RDI) 42.84p 0.82%
Evraz (EVR) 157.10p 0.77%
Homeserve (HSV) 565.00p 0.71%
Vectura Group (VEC) 140.40p 0.65%
Fallers
Sports Direct International (SPD) 285.50p -5.71%
Shawbrook Group (SHAW) 236.00p -5.03%
Crest Nicholson Holdings (CRST) 444.00p -4.15%
Thomas Cook Group (TCG) 70.00p -4.11%
Redrow (RDW) 392.70p -3.82%
Diploma (DPLM) 845.50p -3.59%
Pagegroup (PAGE) 332.30p -3.43%
Bovis Homes Group (BVS) 845.00p -3.37%
SIG (SHI) 116.10p -3.33%
Hays (HAS) 129.30p -3.29%