FTSE 250 movers: Imagination continues to weigh on sentiment

23rd Jun 2011 15:39

Imagination Technologies dragged the FTSE 250 index lower for the second consecutive day after reporting lower-than-expected full year sales, offsetting the stellar performance by recycled packaging firm DS Smith. DS Smith reported 86% jump in pre-tax profits, overcoming a sharp rise in input costs and also raised its full year dividend. Despite positive comments from brokerage Peel Hunt, which upgraded Imagination's shares to "hold" from "sell," the chip designer plunged more than 14%. Micro Focus also contributed to the fall after the legacy software specialist reported earnings that missed market expectations. On the whole, investors dumped technology and capital goods stocks. Separately, British financial software provider Misys stole the spotlight after its mystery bidder came forward and revealed itself to be US-based Fidelity National Information Services. FTSE 250 - RisersDS Smith (SMDS) 244.90p +14.65%Bwin.party Digital Entertainment (BPTY) 128.90p +1.50%Misys (MSY) 416.30p +1.44%Cable & Wireless Worldwide (CW.) 50.55p +1.40%Berendsen (BRSN) 491.60p +1.36%Devro (DVO) 270.30p +1.35%Atkins (WS) (ATK) 746.00p +1.02%Genus (GNS) 1,010.00p +1.00%St. Modwen Properties (SMP) 185.70p +0.92%Telecom Plus (TEP) 629.50p +0.88%FTSE 250 - FallersImagination Technologies Group (IMG) 353.50p -14.72%Micro Focus International Plc (MCRO) 323.80p -8.53%Ocado Group (OCDO) 184.00p -5.74%Afren (AFR) 149.70p -5.73%Chemring Group (CHG) 604.00p -5.18%Heritage Oil (HOIL) 206.00p -4.85%Gem Diamonds Ltd. (DI) (GEMD) 224.00p -4.64%Betfair Group (BET) 739.50p -4.52%Renishaw (RSW) 1,629.00p -4.51%Home Retail Group (HOME) 159.90p -4.19%