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FTSE 250 movers: Hunting climbs, Amigo plummets
29th Aug 2019 14:49
(Sharecast News) - London's FTSE 250 was up 0.35% at 19,270.37 in afternoon trading on Thursday, with Hunting leading the index higher.
Shares in the energy services company rose as it posted a jump in first-half profit thanks to solid performances in its Asia Pacific, US and EMEA segments.
Home emergency repairs business Homeserve also made gains after analysts from UBS raised their rating of the stock from 'neutral' to 'buy', upping their price target from 1,050p to 1,350p.
The analysts said they believed HomeServe could deliver best-in-class earnings growth, led by a membership business with under-appreciated potential to combine greenfield and product expansion with increasing operating leverage, and supported by a home experts platform disrupting the UK market for home services and improvements.
Down at the other end of the index, Amigo Holdings plummeted after its first-quarter results disappointed due to higher impairments and costs, while the lender also warned that annual loan book growth would be flat.
Russ Mould, investment director at AJ Bell, said: "The outlook contains quite a few shocks including a warning that impairments are likely to remain at a higher level, the ratio of cost to income is going to rise, and there could be a hit to repeat lending. Amigo argues that it provides a valuable product that helps improve people's lives yet the business is so far failing to reward shareholders."
Ex-dividends weighed, as is usually the case on a Thursday, with Charter Court Financial, OneSavings Bank, Centamin, Tullow Oil and Plus500 all in the frame.
Tullow Oil also confirmed that its farm-down agreement with Total and China National Offshore Oil Corp (CNOOC) has ended after it failed to agree tax details with the Government of Uganda.
Market Movers
FTSE 250 (MCX) 19,270.37 0.35%
FTSE 250 - Risers
Hunting (HTG) 454.00p 5.63%
William Hill (WMH) 177.13p 5.43%
Homeserve (HSV) 1,143.00p 5.06%
Games Workshop Group (GAW) 4,414.92p 4.82%
Renishaw (RSW) 3,524.00p 4.63%
Kaz Minerals (KAZ) 400.10p 3.81%
Victrex plc (VCT) 2,018.00p 3.43%
Mediclinic International (MDC) 334.50p 2.89%
Ferrexpo (FXPO) 199.60p 2.67%
Weir Group (WEIR) 1,422.00p 2.56%
FTSE 250 - Fallers
Amigo Holdings (AMGO) 71.21p -51.29%
Charter Court Financial Services Group (CCFS) 257.00p -4.81%
OneSavings Bank (OSB) 315.20p -3.90%
Centamin (DI) (CEY) 146.70p -3.71%
Tullow Oil (TLW) 209.50p -3.59%
Sophos Group (SOPH) 374.30p -3.11%
Dixons Carphone (DC.) 104.50p -2.65%
Metro Bank (MTRO) 272.58p -2.65%
Wood Group (John) (WG.) 355.60p -2.55%
Plus500 Ltd (DI) (PLUS) 685.80p -2.31%
Shares in the energy services company rose as it posted a jump in first-half profit thanks to solid performances in its Asia Pacific, US and EMEA segments.
Home emergency repairs business Homeserve also made gains after analysts from UBS raised their rating of the stock from 'neutral' to 'buy', upping their price target from 1,050p to 1,350p.
The analysts said they believed HomeServe could deliver best-in-class earnings growth, led by a membership business with under-appreciated potential to combine greenfield and product expansion with increasing operating leverage, and supported by a home experts platform disrupting the UK market for home services and improvements.
Down at the other end of the index, Amigo Holdings plummeted after its first-quarter results disappointed due to higher impairments and costs, while the lender also warned that annual loan book growth would be flat.
Russ Mould, investment director at AJ Bell, said: "The outlook contains quite a few shocks including a warning that impairments are likely to remain at a higher level, the ratio of cost to income is going to rise, and there could be a hit to repeat lending. Amigo argues that it provides a valuable product that helps improve people's lives yet the business is so far failing to reward shareholders."
Ex-dividends weighed, as is usually the case on a Thursday, with Charter Court Financial, OneSavings Bank, Centamin, Tullow Oil and Plus500 all in the frame.
Tullow Oil also confirmed that its farm-down agreement with Total and China National Offshore Oil Corp (CNOOC) has ended after it failed to agree tax details with the Government of Uganda.
Market Movers
FTSE 250 (MCX) 19,270.37 0.35%
FTSE 250 - Risers
Hunting (HTG) 454.00p 5.63%
William Hill (WMH) 177.13p 5.43%
Homeserve (HSV) 1,143.00p 5.06%
Games Workshop Group (GAW) 4,414.92p 4.82%
Renishaw (RSW) 3,524.00p 4.63%
Kaz Minerals (KAZ) 400.10p 3.81%
Victrex plc (VCT) 2,018.00p 3.43%
Mediclinic International (MDC) 334.50p 2.89%
Ferrexpo (FXPO) 199.60p 2.67%
Weir Group (WEIR) 1,422.00p 2.56%
FTSE 250 - Fallers
Amigo Holdings (AMGO) 71.21p -51.29%
Charter Court Financial Services Group (CCFS) 257.00p -4.81%
OneSavings Bank (OSB) 315.20p -3.90%
Centamin (DI) (CEY) 146.70p -3.71%
Tullow Oil (TLW) 209.50p -3.59%
Sophos Group (SOPH) 374.30p -3.11%
Dixons Carphone (DC.) 104.50p -2.65%
Metro Bank (MTRO) 272.58p -2.65%
Wood Group (John) (WG.) 355.60p -2.55%
Plus500 Ltd (DI) (PLUS) 685.80p -2.31%