FTSE 250 movers: Dead cat bounce in Circassia

21st Jun 2016 16:59

(ShareCast News) - High-tech components manufacturer Senior led the fallers on the mid-cap index after it issued a pre-close trading update on Tuesday, in which it reiterated that margins in the aerospace division will be lower in the first half of 2016.The FTSE 250 firm said activity in aerospace is anticipated to increase during the period in line with expectations, but margins will be lower as the ramp-up of new production programmes continues.Bank of America Merrill Lynch upgraded ICAP to 'buy' from 'neutral' with an unchanged price target of 500p, saying the stock's recent underperformance has added valuation appeal to a compelling strategy.It noted ICAP shares have dropped 19% this year, which is around 18% more than the All Share and attributed much of the weakness to macro/referendum concerns.The bank said it continues to see ICAP as well placed, especially post the NEX separation. NEX is the company which will endure once ICAP sells the bulk of its voice assets to Tullett Prebon.Shares in biopharmaceutical development company Circassia Pharmaceuticals bounced back after the previous day's plunge after it announced disappointing top-line results from its investigational cat allergy immunotherapy phase III study.Analysts at RBC Capital Markets said while the Cat-SPIRE PIII results were disappointing, the implications for the rest of the SPIREs remain in the balance until a better understanding of trial results emerged."At 250p of option value it could be tempting to buy ahead of the event but we downgrade to 'sector perform' from 'top pick' until more is known on how to progress and fund these assets through the clinic." FTSE 250 - RisersCircassia Pharmaceuticals (CIR) 97.00p 6.59%Softcat (SCT) 360.10p 5.73%Allied Minds (ALM) 358.30p 5.38%Evraz (EVR) 129.10p 4.96%Hansteen Holdings (HSTN) 107.00p 4.39%ICAP (IAP) 430.10p 3.76%NMC Health (NMC) 1,187.00p 3.22%F&C Commercial Property Trust Ltd. (FCPT) 123.50p 3.00%Telecom Plus (TEP) 1,032.00p 2.99%Ocado Group (OCDO) 244.90p 2.98%FTSE 250 - FallersSenior (SNR) 196.70p -12.78%Cairn Energy (CNE) 189.70p -5.06%IMI (IMI) 969.50p -3.91%Kaz Minerals (KAZ) 134.50p -3.72%Centamin (DI) (CEY) 106.30p -3.63%Entertainment One Limited (ETO) 172.40p -3.20%Wetherspoon (J.D.) (JDW) 719.50p -3.16%BGEO Group (BGEO) 2,549.00p -2.75%Genus (GNS) 1,559.00p -2.74%Fidessa Group (FDSA) 2,214.00p -2.60%