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FTSE 250 movers: Commodity stocks, Direct Line Group and Taylor Wimpey unloved
29th Mar 2021 15:23
(Sharecast News) - Commodity-related issues were weakest on the second-tier index at the start of the week as investors continued to shy away from that segment of the stock market.
Among those investors was JP Morgan, whose strategists reiterated to clients their recent 'switch' from Mining to Telcos given the risk of a "firmer" US dollar as Treasury note yields move higher.
Shares in Direct Line Group were also lower despite supportive comments out of analysts at Berenberg.
In a research note dated 26 March but published on Monday, the analysts told clients: "UK motor companies will also be among the companies to benefit more quickly from higher yields, with Sabre and Direct Line scoring highly."
Taylor Wimpey was another top faller even as JP Morgan moved to upgrade the shares to 'overweight' due to the fact that it had the highest upside to consensus despite the firm's margins being at the bottom end of its management's own guidance.
JP Morgan also revised its target price for Taylor Wimpey higher, from 190.0p to 220.0p.
Going the other way, stock in enterprise software developer Micro Focus was at the top of the leaderboard and trading at a 52-week high.
FTSE 250 - Risers
Micro Focus International (MCRO) 554.00p 5.44%
SSP Group (SSPG) 349.60p 4.05%
Helios Towers (HTWS) 165.20p 3.90%
Cineworld Group (CINE) 106.95p 3.89%
Greggs (GRG) 2,260.00p 3.86%
Elementis (ELM) 127.00p 3.42%
Watches of Switzerland Group (WOSG) 682.00p 3.02%
Savills (SVS) 1,161.00p 3.02%
Hammerson (HMSO) 33.89p 2.88%
Pets at Home Group (PETS) 405.40p 2.79%
FTSE 250 - Fallers
Wood Group (John) (WG.) 275.10p -5.04%
Trainline (TRN) 447.60p -4.64%
Capita (CPI) 41.50p -3.98%
Hochschild Mining (HOC) 196.10p -3.68%
Energean (ENOG) 847.90p -3.52%
Drax Group (DRX) 436.80p -3.15%
ITV (ITV) 123.65p -3.06%
Direct Line Insurance Group (DLG) 311.70p -2.68%
Oxford Instruments (OXIG) 1,950.00p -2.50%
Network International Holdings (NETW) 407.00p -2.40%
Among those investors was JP Morgan, whose strategists reiterated to clients their recent 'switch' from Mining to Telcos given the risk of a "firmer" US dollar as Treasury note yields move higher.
Shares in Direct Line Group were also lower despite supportive comments out of analysts at Berenberg.
In a research note dated 26 March but published on Monday, the analysts told clients: "UK motor companies will also be among the companies to benefit more quickly from higher yields, with Sabre and Direct Line scoring highly."
Taylor Wimpey was another top faller even as JP Morgan moved to upgrade the shares to 'overweight' due to the fact that it had the highest upside to consensus despite the firm's margins being at the bottom end of its management's own guidance.
JP Morgan also revised its target price for Taylor Wimpey higher, from 190.0p to 220.0p.
Going the other way, stock in enterprise software developer Micro Focus was at the top of the leaderboard and trading at a 52-week high.
FTSE 250 - Risers
Micro Focus International (MCRO) 554.00p 5.44%
SSP Group (SSPG) 349.60p 4.05%
Helios Towers (HTWS) 165.20p 3.90%
Cineworld Group (CINE) 106.95p 3.89%
Greggs (GRG) 2,260.00p 3.86%
Elementis (ELM) 127.00p 3.42%
Watches of Switzerland Group (WOSG) 682.00p 3.02%
Savills (SVS) 1,161.00p 3.02%
Hammerson (HMSO) 33.89p 2.88%
Pets at Home Group (PETS) 405.40p 2.79%
FTSE 250 - Fallers
Wood Group (John) (WG.) 275.10p -5.04%
Trainline (TRN) 447.60p -4.64%
Capita (CPI) 41.50p -3.98%
Hochschild Mining (HOC) 196.10p -3.68%
Energean (ENOG) 847.90p -3.52%
Drax Group (DRX) 436.80p -3.15%
ITV (ITV) 123.65p -3.06%
Direct Line Insurance Group (DLG) 311.70p -2.68%
Oxford Instruments (OXIG) 1,950.00p -2.50%
Network International Holdings (NETW) 407.00p -2.40%