FTSE 250 movers: Home Retails leap on Argos store closures

24th Oct 2012 15:34

Argos and Homebase owner Home Retail jumped after announcing its decision to close 75 Argos stores over the next five years. "We have concluded a comprehensive business review of Argos which highlighted a clear opportunity to transform the business through increased investment in digital technologies," the group said. Lonmin shares were also notably higher. It was revealed today, as part of the second day of the Marikana Commission of Inquiry, that an email from shareholder Ramaphosa called for strong action to manage the demonstrators during the protests earlier this year. Bus and train group National Express plunged after saying that third-quarter trading remained resilient, despite increasing austerity measures, with profit on target for the year. The transport operator saw a strong performance in UK bus and in rail while coach endured a difficult year. Jefferies maintained its buy rating on the stock, along with a 300p target, while Panmure Gordon kept its hold rating and 250p target. Sportswear and accessories retailer Sports Direct slipped after saying that revenue growth had slowed from 25.3% in the first quarter to 18% in the second. FTSE 250 - RisersHome Retail Group (HOME) 107.50p +3.27%Lonmin (LMI) 502.00p +3.27%Essar Energy (ESSR) 136.70p +3.01%SDL (SDL) 565.50p +2.54%Grainger (GRI) 107.70p +2.47%Imagination Technologies Group (IMG) 481.70p +2.45%Interserve (IRV) 370.70p +2.29%Mitchells & Butlers (MAB) 324.70p +2.24%Yule Catto & Co (YULC) 153.00p +2.20%COLT Group SA (COLT) 121.40p +2.19%FTSE 250 - FallersNational Express Group (NEX) 180.10p -12.78%Salamander Energy (SMDR) 189.70p -6.51%Ophir Energy (OPHR) 553.50p -4.73%AZ Electronic Materials SA (DI) (AZEM) 314.90p -3.99%Elementis (ELM) 211.50p -3.29%Homeserve (HSV) 223.20p -3.21%Heritage Oil (HOIL) 194.10p -3.10%William Hill (WMH) 337.50p -2.77%Carpetright (CPR) 676.50p -2.52%Ruspetro (RPO) 104.80p -2.51%NR