FTSE 250 movers: Imagination Tech continues to slide

24th Jan 2014 15:30

Imagination Technologies Group has continued its sharp decline again today. The share price has fallen from 214p on Tuesday to its current level of 182p.Cairn Energy, the oil and gas exploration and development group, dropped after it informed investors that it was contacted by the Income Tax Department of India to discuss income tax assessments for the year ending March 31st 2007. While discussions were ongoing, Cairn was instructed to hold its shares in Cairn India, in which is has around a 10% stake. Close Brothers was also taking a hit despite predicting a "strong performance" in its first half, with financial services stocks under pressure amid a wider market sell-off. Numis Securities reiterated its 'reduce' rating on the stock. Meanwhile, shares in Devro climbed after its 'outperform' rating was reaffirmed by analysts at BNP Paribas. The bank currently has a 370p target price for the industrial stock.Online gambling firm Betfair was also higher after it had its 'buy' rating reaffirmed by analysts at Citigroup Inc.. The firm currently has a 1,225p target price for the stock.FTSE 250 - RisersEssar Energy (ESSR) 65.70p +2.90%Devro (DVO) 312.80p +2.56%Polymetal International (POLY) 598.50p +2.13%Serco Group (SRP) 508.00p +1.09%Ladbrokes (LAD) 152.10p +0.93%Cranswick (CWK) 1,241.00p +0.81%Hiscox Ltd (HSX) 640.00p +0.63%Betfair Group (BET) 977.50p +0.62%Berendsen (BRSN) 926.00p +0.60%UDG Healthcare Public Limited Company (UDG) 355.70p +0.59%FTSE 250 - FallersBank of Georgia Holdings (BGEO) 2,211.00p -6.15%Enterprise Inns (ETI) 153.50p -5.60%Imagination Technologies Group (IMG) 182.30p -5.54%PayPoint (PAY) 1,072.00p -5.47%Oxford Instruments (OXIG) 1,638.00p -5.04%Cairn Energy (CNE) 249.40p -4.85%Hays (HAS) 130.10p -4.76%Inchcape (INCH) 605.50p -4.57%Renishaw (RSW) 1,822.00p -4.41%Rathbone Brothers (RAT) 1,635.00p -4.39%NR