FTSE 250 movers: Micro Focus, SDL and Imagination lead the risers

19th Jun 2013 14:11

Software products group Micro Focus International surged after its annual results unveiled a five per cent gain in pre-tax profit as it kept a tight rein on costs.Canaccord Genuity raised its target price for the stock from 800p to 820p this morning, keeping a 'buy' rating as it said: "These are another impressive set of figures from Micro Focus that demonstrate the ongoing resilience and relevance of the business."Translation and communications software firm SDL was also a strong performer today, though it was rebounding after a 30% drop on Tuesday following a profit warning.After an earlier fall, processor technology group Imagination Technologies was trading firmly in the blue this afternoon after its annual results. Full-year revenues grew by a fifth after a better-than-expected increase in unit shipments, but profits fell due to a jump in opex and continuing struggles at its loss-making radio division, Pure. House building company Berkeley Group also impressed after reporting a 26% hike in annual pre-tax profit and issued a further interim dividend following strong demand in London and the South of England. Lancashire was being weighed down today after JPMorgan Cazenove downgraded its rating for the insurance firm from 'overweight' to 'neutral' given its premium multiple ahead of hurricane season as well as a full valuation.FTSE 250 - RisersMicro Focus International (MCRO) 707.50p +9.35%SDL (SDL) 288.20p +6.35%Imagination Technologies Group (IMG) 319.00p +4.52%Spirent Communications (SPT) 135.60p +3.99%Informa (INF) 494.40p +3.50%Euromoney Institutional Investor (ERM) 1,028.00p +3.47%UBM (UBM) 688.00p +3.07%Home Retail Group (HOME) 132.80p +2.23%Chemring Group (CHG) 272.10p +2.06%Ophir Energy (OPHR) 375.00p +1.90%FTSE 250 - FallersNew World Resources A Shares (NWR) 79.75p -12.79%PZ Cussons (PZC) 376.70p -4.63%Telecity Group (TCY) 956.00p -4.30%Playtech (PTEC) 616.00p -3.45%Electrocomponents (ECM) 247.30p -3.44%Hochschild Mining (HOC) 200.30p -3.42%Kazakhmys (KAZ) 291.30p -2.58%Man Group (EMG) 87.40p -2.40%Hiscox Ltd (HSX) 542.50p -2.25%Lancashire Holdings (LRE) 765.00p -2.24%