FTSE 250 movers: Retailers take a hit as Home Retail dives

9th Jun 2011 15:58

Home Retail has taken a plunge after revealing an 8.1% fall in sales at its catalogue-based retailer Argos in the 13 weeks to 28 May. "Trading conditions, particularly at Argos, have proved to be more difficult and volatile than anticipated," chief executive Terry Duddy said. Retailing peers Dixons and JD Sports Fashion are also losing heavily. The latter reported a 2.8% like-for-like fall in sales between the end of January and 4 June.Bucking the sector trend is car parts and bikes retailer Halfords, after it reported a solid set of full year results despite ongoing retail sluggishness, helped by improved gross margin and cost control. Shares in African Barrick Gold rallied after it repeated its assertion that the Tanzanian government has no plans to impose a "super-tax" on the country's mining industry, pointing out that no such proposals were in the Budget the finance minister presented to parliament yesterday. Peel Hunt has downgraded Moneysupermarket.com from 'buy' to 'hold', in response to the recent strong run of the share price, causing shares in the price comparison website to fall.---BCFTSE 250 - RisersAnglo Pacific Group (APF) 316.30p +5.75%Elementis (ELM) 160.80p +4.21%Ferrexpo (FXPO) 483.90p +3.62%Bodycote (BOY) 372.90p +3.44%COLT Group SA (COLT) 147.60p +3.22%Halfords Group (HFD) 410.50p +3.19%Mondi (MNDI) 631.00p +3.10%Morgan Crucible Co (MGCR) 309.30p +3.00%Fenner (FENR) 378.70p +2.96%African Barrick Gold (ABG) 427.10p +2.92%FTSE 250 - FallersHome Retail Group (HOME) 173.60p -14.19%Dixons Retail (DXNS) 17.86p -7.46%JD Sports Fashion (JD.) 927.50p -5.31%CSR (CSR) 316.30p -3.01%JPMorgan Asian Inv Trust (JAI) 228.80p -2.64%Helical Bar (HLCL) 255.80p -2.55%Thomas Cook Group (TCG) 138.80p -2.46%RPC Group (RPC) 330.70p -2.45%Premier Farnell (PFL) 277.30p -2.36%Punch Taverns (PUB) 73.20p -2.33%