FTSE 250 movers: DCC lifted by broker ratings

17th Feb 2014 15:30

Energy and business support services group DCC rose strongly today despite lowering its full-year profit outlook, after Investec analysts reiterated their 'add' rating on the stock. The group said that a poor performance by its largest division, DCC Energy, meant both its operating profit and adjusted earnings per share for the year ending March 31st will be between 7-10% above the previous year, compared to the approximate 15% and 13% previously forecast. However, according to broker Jefferies, the impact of the weather wasn't as bad as had been feared, prompting it to restate its 'buy' rating. Looking ahead, it upgraded its expectations for earnings per share for the 2015 financial year by 5%. Essar Energy rose strongly after Essar Global Fund, which owns 78.02% of the group, presented an outline proposal to pay 70p for each share which it does not already own and 80 cents for the 4.25% convertible bonds due 2016. Essar Energy announced the creation of a five-member independent committee to evaluate the proposal.Telecom Plus was also higher after it said it will increase its annual dividend by 13% to 35p as the utility services provider is confident of achieving profits in line with market expectations. The company saw customers grow to 18,429 in the third quarter from 18,439 last year.Meanwhile, mining group Kazakhmys fell after agreeing to a 'managed increase' in workers' salaries in order to protect workers from some of the impact of the devaluation of the Kazakhstan currency. The move came after Kazakhstan on Tuesday devalued the tenge by 19% to around the $185 mark, attributing the move to the effect of US tapering on emerging markets. FTSE 250 - RisersDCC (DCC) 2,915.00p +4.67%Essar Energy (ESSR) 69.05p +4.62%Telecom Plus (TEP) 1,885.00p +4.09%Polymetal International (POLY) 682.00p +3.73%Rank Group (RNK) 150.20p +3.73%Computacenter (CCC) 680.50p +3.58%AL Noor Hospitals Group (ANH) 869.50p +3.51%Countrywide (CWD) 623.00p +3.40%Micro Focus International (MCRO) 779.00p +2.77%Wetherspoon (J.D.) (JDW) 842.50p +2.74%FTSE 250 - FallersRotork (ROR) 2,585.00p -3.33%Xaar (XAR) 1,051.00p -2.05%JD Sports Fashion (JD.) 1,379.00p -1.99%Kazakhmys (KAZ) 231.20p -1.15%KCOM Group (KCOM) 99.40p -1.09%Serco Group (SRP) 396.00p -0.93%Daejan Holdings (DJAN) 5,005.00p -0.89%Diploma (DPLM) 741.50p -0.74%RPS Group (RPS) 314.40p -0.66%Rightmove (RMV) 2,700.00p -0.63%NR