FTSE 250 movers: Inmarsat jumps after Morgan Stanley upgrade

2nd Sep 2013 15:36

Satellite operator Inmarsat jumped on Monday after Morgan Stanley upgraded its rating on the stock from 'equalweight' to 'overweight', citing the potential for its US business given the possible 'reactivation' of its co-operation agreement with US group LightSquared. The broker raised its target price for the shares from 740p to 820p.Morgan Stanley however was weighing on the share price of bwin.party today after cutting its recommendation from 'overweight' to 'equalweight'. The online gaming company tumbled on Friday after reporting a drop in first-half earnings and giving gloomy guidance for the full year.Bovis Homes was performing well after Citigroup reiterated its 'buy' rating for the stock, saying that valuations across the sector after looking less frothy after recent weakness. "We would want to use any pull back in share prices to gain exposure to the positive trends in the UK housing market at more attractive valuations," the US bank said.Sector peer Berkeley also gained after saying forward sales of homes had increased in its first quarter and now stand at more than £1.5bn. The house builder said UK domestic sales were boosted by improving consumer confidence and the Government's Help to Buy scheme. Xaar, the inkjet printing technology firm, was a heavy faller today, extending losses to over 9% since its interim results underwhelmed markets last Thursday. The company hiked its dividend by 150% after adjusted profits more than tripled to £22.3m on revenues that nearly doubled to £67.2m. Analyst Thomas Rands from Investec said last week: "After four upgrades in nine months the lack of further positive revisions will surely disappoint some; however, this pause was highly likely after what has been a very strong outperformance."FTSE 250 - RisersFerrexpo (FXPO) 175.70p +5.72%Henderson Group (HGG) 174.40p +5.70%Inmarsat (ISAT) 731.50p +5.25%Tullett Prebon (TLPR) 359.00p +5.06%Bovis Homes Group (BVS) 779.50p +4.84%Fenner (FENR) 359.40p +4.78%TalkTalk Telecom Group (TALK) 249.80p +4.74%Ashtead Group (AHT) 675.50p +4.73%Oxford Instruments (OXIG) 1,496.00p +4.69%Regus (RGU) 185.00p +4.58%FTSE 250 - FallersXaar (XAR) 788.50p -3.01%Polymetal International (POLY) 736.00p -2.58%Bwin.party Digital Entertainment (BPTY) 108.00p -1.82%F&C Asset Management (FCAM) 95.45p -1.60%African Barrick Gold (ABG) 187.00p -1.58%Ocado Group (OCDO) 325.40p -1.54%Bumi (BUMI) 215.00p -1.19%Rank Group (RNK) 158.50p -1.12%Hochschild Mining (HOC) 259.30p -0.80%Ophir Energy (OPHR) 320.00p -0.78%BC