FTSE 250 movers: SDL sinks on tech slowdown

15th Oct 2012 15:41

Information management firm SDL fell after saying that first-half trends had continued into the third quarter: services sales are strong but technology revenues continue to be 'suppressed'. Investec downgraded the stock from 'buy' to 'hold' today, saying: "We continue to see SDL as an appealing investment proposition due to its position of strength in multiple growth markets. However to justify a premium rating we believe the company will need to deliver on its growth potential within the technology business as well as the services business." Nickel and zinc miner Talvivaara was unwanted after saying that heavy rainfall in the third quarter is proving a major obstacle in its aim of mining 17,000 tonnes of nickel this year. Foam products supplier Filtrona was in demand after firing on all cylinders in the third quarter with like-for-like sales up by one-tenth year-on-year.Rentokil Initial gained after the Sunday Telegraph said that the firm is working to spin-off its loss-making City Link business by the end of the year. House builder Bovis Homes was in demand after JPMorgan Cazenove upgraded the stock to 'overweight' and lifted its target price from 485p to 560p.FTSE 250 - RisersFiltrona PLC (FLTR) 542.00p +6.27%Savills (SVS) 406.60p +3.51%Spectris (SXS) 1,598.00p +3.16%Hikma Pharmaceuticals (HIK) 745.00p +3.11%Kentz Corporation Ltd. (KENZ) 421.00p +2.93%Premier Oil (PMO) 371.30p +2.65%St James's Place (STJ) 384.10p +2.45%Bovis Homes Group (BVS) 506.50p +2.39%Kenmare Resources (KMR) 37.42p +2.38%Aveva Group (AVV) 2,035.00p +2.26%FTSE 250 - FallersSDL (SDL) 562.50p -12.11%Bumi (BUMI) 252.00p -10.00%Talvivaara Mining Company (TALV) 135.90p -7.05%Hunting (HTG) 783.50p -3.57%Ocado Group (OCDO) 64.15p -3.46%Chemring Group (CHG) 330.90p -3.44%Petropavlovsk (POG) 419.50p -3.39%Lonmin (LMI) 490.40p -3.08%Investec (INVP) 358.60p -3.03%FirstGroup (FGP) 185.30p -2.83%BC