FTSE 25 movers: Laird leads pack after 'significantly stronger' half

9th Jan 2014 14:57

Electronics components maker Laird led the FTSE 250's rise on Thursday as it expressed confidence it will hit full-year expectations after enjoying a 'significantly stronger' second half.The cost of restructuring to keep on top of market innovations offset the higher demand from smartphone and consumer markets. Shares in the shipbuilder-turned-electromagnetic interference specialist fizzed up 11.7% to 316p by mid afternoon.Frankie & Benny's and Chiquito eatery owner Restaurant Group was not far behind as investors tucked in on the news that market expectation were likely to be beaten.Revenues rose 9% last year, with like-for-like sales up 3.5% ahead of the previous year as the company opened 35 new restaurants and saw operating margins improve.Elsewhere bus operator FirstGroup and holiday provider Thomas Cook rose on broker upgrades from Investec and Barclays respectively, while television set-top box maker Pace beat expectations with earnings up 20%.Pace, a developer of technology for PayTV and broadband, said adjusted earnings before interest, tax, and amortisation (EBITA) totalled at least $190m for the period, up from $158.1m in 2012, on revenue of $2.46bn, which was up 2.4% on the $2.40bn delivered the previous year.Going the other way, telecoms testing provider Spirent lost ground after it delivered fourth-quarter sales at the bottom end of guidance, as slower US demand counterbalanced a strengthening in Asia and Europe.However analysts at Jefferies said "Spirent's woes look set to continue into 2014" as networking and applications (N&A) issues add to those in wireless and spending rises more than expected, "meaning profits are flat this year".Bookmaker Ladbrokes fell after being downgraded by Barclays Capital to 'underweight' on Thursday, following JPMorgan reiterating its own 'underweight' rating the day before.FTSE 250 - RisersLaird (LRD) 316.00p +11.74%Restaurant Group (RTN) 630.50p +5.97%FirstGroup (FGP) 137.00p +4.98%Domino's Pizza Group (DOM) 547.00p +4.79%Thomas Cook Group (TCG) 179.50p +4.54%Pace (PIC) 354.90p +3.86%Perform Group (PER) 231.30p +3.26%PayPoint (PAY) 1,051.00p +3.04%Merlin Entertainments (MERL) 377.60p +3.03%Drax Group (DRX) 820.00p +2.89%FTSE 250 - FallersSpirent Communications (SPT) 83.10p -16.36%Ladbrokes (LAD) 169.00p -5.95%Polymetal International (POLY) 542.00p -5.24%Imagination Technologies Group (IMG) 161.20p -4.56%Evraz (EVR) 101.30p -4.07%African Barrick Gold (ABG) 191.00p -3.68%Lonmin (LMI) 293.10p -2.91%Centamin (DI) (CEY) 45.22p -2.73%CSR (CSR) 643.00p -2.72%Entertainment One Limited (ETO) 283.00p -2.51%OH