FTSE 250 movers: Broker comment pushes Dechra Pharma higher

11th Jun 2014 14:34

Investec helped Dechra Pharmaceuticals into the top 10 after reiterating its 'buy' rating and upping its target price from 787p to 842p. Online betting exchange Betfair thrashed analysts' full-year forecasts as management tackled the cost base and the introduction of a more traditional bookmaker's sportsbook and increased marketing gave a much-needed kick to customer acquisition. While underlying revenue rose a modest 2% to £393.6m in the year to end-March, the new focus on efficiency saw earnings before interest, tax, depreciation and amortisation (EBITDA) jump 24% to £91.1m and basic earnings per share leap 57% to 49p, ahead of analyst consensus of less than 46p. ITE Group inched higher the emerging-markets exhibition organiser revealed it is set to buy a 50% stake in Indonesian peer Debindo Unggul Buana Makmur (DUBM).Newsagent and bookseller WH Smith also moved higher after it said total group sales in the first 14 weeks of the second half of the financial year were flat with like-for-like (LFL) sales down 2%, compared to the same period last year, but it remains confident about its full-year outcome.Meanwhile, Intermediate Capital and LondonMetric Property both fell after going ex-dividend. Oil producer Afren was also a notable decliner, hit by reports of unrest in Iraq, where the second largest city, Mosul, has apparently been taken over by extremists. FTSE 250 - RisersPerform Group (PER) 272.50p +3.61%African Barrick Gold (ABG) 224.20p +3.32%esure Group (ESUR) 270.00p +2.94%Polymetal International (POLY) 547.50p +2.05%Genus (GNS) 1,065.00p +1.91%Dairy Crest Group (DCG) 476.60p +1.53%Kazakhmys (KAZ) 279.90p +1.41%Dechra Pharmaceuticals (DPH) 708.00p +1.29%Betfair Group (BET) 1,034.00p +1.17%Hiscox Ltd (CDI) (HSX) 693.00p +1.17%FTSE 250 - FallersSupergroup (SGP) 1,077.00p -6.35%Intermediate Capital Group (ICP) 399.70p -4.72%Halfords Group (HFD) 490.20p -4.16%Afren (AFR) 144.80p -4.11%LondonMetric Property (LMP) 138.40p -3.89%Greencore Group (GNC) 272.00p -3.72%Ferrexpo (FXPO) 132.30p -3.71%Homeserve (HSV) 327.40p -3.56%Bank of Georgia Holdings (BGEO) 2,375.00p -3.46%Unite Group (UTG) 417.90p -3.22%NR