FTSE 250 movers: Ocado fails to deliver

11th May 2011 15:25

Online grocery firm Ocado - which has a long-term delivery deal with Waitrose - has seen its share price drop after it said sales growth in the second quarter has, as expected, been lower than the first as a result of capacity constraints and the higher incidence of holidays. Garfunkel's and Frankie & Benny's owner The Restaurant Group said it is trading 'in line' after a "satisfactory" performance in the first 18 weeks of 2011, but has expressed its caution in regards to the full year as consumer spending remains restricted. Shares fell lower on Wednesday as a number of brokers downgraded their ratings: Peel Hunt cut its recommendation to 'hold', from 'buy'; while Evolution reduced its rating from 'buy' to 'neutral'. The best performer on the index, however, is International Personal Finance, after its chairman said that the firm enjoyed strong sales over the Easter period.Set-top box maker Pace is also in demand, recovering from yesterday's sell-off. RBS said that the recent share price decline was overdone, and has kept its 'buy' rating on the stock.House builder Barratt Developments is enjoying 2011 a lot more than it did 2010, with sales rates turning to more normal levels and selling prices on the up. Sector peer Bovis is also wanted after saying that the market has remained stable with visitor numbers for the year to date remaining over 20% ahead of the prior year. In the red is animal genetics company Genus, which said that "Pig prices have kept pace with the increases in feed costs in most countries and, as a result, customer profitability and the demand for Genus' products have been sustained," the company said. ---BCFTSE 250 - RisersInternational Personal Finance (IPF) 376.00p +7.34%Kenmare Resources (KMR) 46.05p +6.38%Pace (PIC) 97.90p +5.27%Soco International (SIA) 378.80p +3.98%RPS Group (RPS) 246.40p +3.97%Mothercare (MTC) 437.60p +3.16%Bovis Homes Group (BVS) 450.90p +2.87%Sports Direct International (SPD) 209.90p +2.74%Carpetright (CPR) 687.50p +2.69%Kofax (KFX) 486.30p +2.29%FTSE 250 - FallersOcado Group (OCDO) 213.30p -8.45%Restaurant Group (RTN) 305.00p -7.29%Provident Financial (PFG) 967.00p -4.54%Hochschild Mining (HOC) 544.00p -4.39%CPP Group (CPP) 124.20p -4.09%Computacenter (CCC) 470.90p -3.84%CSR (CSR) 378.70p -3.24%Petropavlovsk (POG) 851.50p -3.18%Bunzl (BNZL) 731.00p -2.60%Renishaw (RSW) 1,705.00p -2.40%