FTSE 250 movers: Drax rises after High Court ruling

14th Jul 2014 14:35

Shares in energy company Drax Group got a lift today after a High Court ruled in favour of its power station unit subsidies. Following the government's announcement in April that Drax's second unit conversion was no longer eligible for an investment contract under the Final Investment Decision Enabling mechanism, the High Court has ruled that the unit is in fact eligible. Home Retail Group climbed after UBS upped its target price from 230p to 240p and reiterated its 'buy' rating.Numis helped Halfords Group pedal higher after upgrading it to 'add' from 'hold', target 545p.Meanwhile, AVEVA, which provides engineering data and design IT systems, reiterated its full-year guidance despite a soft first quarter, in which it was hit by negative currency movements and the seasonal timing of contracts. The company explained that the first quarter of the financial year is normally the "least significant" for the business and this year was no exception.FTSE 250 - RisersXaar (XAR) 553.00p +6.04%JD Sports Fashion (JD.) 403.90p +4.64%Dunelm Group (DNLM) 826.50p +4.62%Centamin (DI) (CEY) 69.85p +4.25%Drax Group (DRX) 706.00p +3.82%Direct Line Insurance Group (DLG) 286.00p +3.10%Petra Diamonds Ltd.(DI) (PDL) 192.20p +3.06%Home Retail Group (HOME) 170.20p +3.03%BlackRock World Mining Trust (BRWM) 497.50p +2.90%Halfords Group (HFD) 492.10p +2.76%FTSE 250 - FallersFoxtons Group (FOXT) 284.30p -2.07%Enterprise Inns (ETI) 120.40p -1.79%Hochschild Mining (HOC) 165.50p -1.55%Vedanta Resources (VED) 1,087.00p -1.45%Thomas Cook Group (TCG) 123.10p -1.12%Just Eat (JE.) 239.50p -1.11%Bwin.party Digital Entertainment (BPTY) 85.85p -1.09%Aveva Group (AVV) 2,040.00p -1.07%Bellway (BWY) 1,501.00p -1.05%Paragon Group Of Companies (PAG) 330.70p -0.90%NR