FTSE 250 Movers: Home Retail rises on trend reversal at Argos

8th Sep 2011 13:30

Home Retail Group, the company which owns Argos and Homebase, saw shares jump higher, despite reporting a fall in second quarter revenues in both chains.Even though Argos - which is by far the bigger operation - registered a 7.1% decrease in sales to £859m, on a like-for-like (LFL) basis, the rate of decline slowed to 8.6% from 9.6% in the first quarter. Year-on-year sales growth turned negative in August at Premier Farnell, sending shares in the electronic components supplier tumbling, as the company struggles to replicate the eye-catching growth it enjoyed last year as customers restocked following the recession.Shares in Regus were heading back down after yesterday's mysterious and sudden rise. Analysts failed to explain the movements of the company which rose significantly on Wednesday. FTSE 250 - RisersPerform Group (PER) 200.00p +8.11%Logica (LOG) 88.65p +7.58%Kenmare Resources (KMR) 45.01p +6.16%JKX Oil & Gas (JKX) 172.40p +5.06%Sports Direct International (SPD) 229.90p +4.98%Home Retail Group (HOME) 121.00p +4.76%Afren (AFR) 103.40p +4.71%RPC Group (RPC) 323.80p +4.32%Ashmore Group (ASHM) 418.10p +4.29%Dixons Retail (DXNS) 11.08p +4.23%FTSE 250 - FallersPremier Farnell (PFL) 159.80p -6.82%Regus (RGU) 72.60p -6.32%Victrex (VCT) 1,246.00p -3.04%Talvivaara Mining Company (TALV) 324.60p -2.93%SVG Capital (SVI) 254.10p -2.42%RPS Group (RPS) 192.60p -2.28%Cookson Group (CKSN) 455.00p -2.19%Informa (INF) 340.90p -2.15%National Express Group (NEX) 229.00p -2.14%Spectris (SXS) 1,422.00p -2.13%NR