FTSE 250 movers: Stocks retreat from weak economic data

8th Jul 2011 09:33

Disappointing construction data coupled with a rise in prices for products manufactured in Britain dragged the FTSE 250 lower. The Office for National Statistics, on Friday, said construction grew 0.4%, while cost of goods at factory gates jumped 5.7% in June, since last year, reflecting soaring food input and oil prices. Manufacturing companies and home furnishing retailers retreated further, while general retailers that depend on robust consumer spending such as Dixons Retail and Ocado Group also saw its share price decline. On the company news front, house builder Bovis released downbeat data. It said it had completed marginally fewer sales in the first half of this year than last year. Also, insulation, roofing and commercial interior products supplier SIG warned that growth will moderate in the second half, "due to a combination of stronger comparators and macroeconomic factors." It added that a weaker economic backdrop in the UK is likely to affect consumer spending on home improvement projects. Public sector new building programmes could be hit by government cutsSeparately, engineering products supplier Premier Farnell, which lost more than 20% of its value on Thursday, bounced back 3.8%. Premier Farnell was the top riser on the index. Shares of Booker Group continued its volatile movement and were up 2.5%. FTSE 250 - RisersPremier Farnell (PFL) 202.50p +3.85%Sports Direct International (SPD) 259.60p +3.84%Berendsen (BRSN) 564.00p +3.11%Booker Group (BOK) 75.40p +2.52%Fidessa Group (FDSA) 2,109.00p +2.08%UK Commercial Property Trust (UKCM) 82.50p +1.85%Morgan Crucible Co (MGCR) 327.60p +1.55%CSR (CSR) 322.20p +1.51%Britvic (BVIC) 395.20p +1.49%Unite Group (UTG) 219.90p +1.48%FTSE 250 - FallersSpirent Communications (SPT) 140.00p -7.16%Supergroup (SGP) 901.00p -7.07%Betfair Group (BET) 682.00p -5.47%Ocado Group (OCDO) 189.00p -4.16%Travis Perkins (TPK) 970.00p -3.77%Home Retail Group (HOME) 158.20p -3.36%Bovis Homes Group (BVS) 435.00p -3.01%Dixons Retail (DXNS) 15.52p -3.00%Premier Oil (PMO) 442.00p -2.94%Brewin Dolphin Holdings (BRW) 154.30p -2.89%