FTSE 250 movers: Balfour Beatty boosted by RBC upgrade

LONDON (ShareCast) – Infrastructure services group Balfour Beatty (Other OTC: BAFYY – news) was among the best performers on the FTSE 250 on Wednesday after RBC Capital Markets upgraded its rating by two notches from ‘underperform’ to ‘outperform’, saying that the stock is geared to the recovery in the UK.

“We believe that the outlook in its end markets is more positive,” said Analyst Olivia Peters. “Balfour Beatty sits at the early part of the infrastructure cycle through its Professional Services business, hence it should benefit from the improving construction outlook ahead of peers.”

Essar Energy (LSE: ESSR.L – news) was also a high riser today, rebounding after a 25% slump since the start of the year. The stock was up nearly 8% this afternoon after coming close to record lows earlier in the session.

Financial stocks were broadly higher, including Ashmore, Brewin Dolphin (LSE: BRW.L – news) and Hiscox. Even interdealer broker ICAP (LSE: IAP.L – news) was registering gains despite reporting a 6% drop in third-quarter revenue due to a challenging market.

Home emergency insurer HomeServe (Other OTC: HMSVF – news) was in demand after saying it expects full-year adjusted profits to be in line with market expectations.

Housebuilder Countrywide (LSE: CWD.L – news) edged higher after 6%-owned online property portal Zoopla was said to be exploring various strategic options. London-focused estate agent firm Foxtons was also performing well today.

A handful of stocks were trading lower after going ex-dividend, including Victrex (LSE: VCT.L – news) and Stagecoach.

FTSE 250 – Risers
Essar Energy (ESSR) 58.55p +7.73%
Ashmore Group (Other OTC: AJMPF – news) (ASHM) 335.00p +5.48%
Foxtons Group (FOXT) 371.20p +5.42%
Balfour Beatty (BBY) 299.00p +5.32%
Homeserve (HSV) 320.80p +4.50%
Centamin (DI (KSE: 003160.KS – news) ) (CEY) 46.88p +3.63%
Wetherspoon (J.D.) (JDW) 798.50p +3.57%
Hiscox Ltd (HSX) 646.50p +3.52%
Enterprise Inns (LSE: ETI.L – news) (ETI (Shenzhen: 002005.SZ – news) ) 165.20p +3.51%
Thomas Cook Group (TCG) 180.20p +3.27%

FTSE 250 – Fallers
Oxford Instruments (LSE: OXIG.L – news) (OXIG) 1,573.00p -3.44%
Victrex plc (VCT) 1,886.00p -3.13%
Cairn Energy (LSE: CNE.L – news) (CNE) 206.30p -2.64%
Riverstone Energy Limited (RSE) 895.00p -2.19%
Renishaw (Frankfurt: REW.F – news) (RSW) 1,837.00p -2.18%
Rank Group (RNK) 137.50p -2.14%
Rotork (Frankfurt: RO4.F – news) (ROR) 2,406.00p -1.92%
Keller Group (LSE: KLR.L – news) (KLR) 1,175.00p -1.92%
UDG Healthcare Public Limited Company (UDG) 339.10p -1.71%
Fidelity China Special Situations (FCSS) 100.80p -1.66%

BC

Ftse Futures

[email protected]

You may also like...

Rules of Discussion on FTSE 250 movers: Balfour Beatty boosted by RBC upgrade

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.
4. Providing Advice/Recommendations/Tips is fine but it should be free. Members cannot ask to be paid for it. Paid Advice is stricly prohibited
5. Spam links are not allowed. Too much promotion or using Contact info in ID will lead to account ban.
IMP : Memebrs are requeuested to flag any violations to keep Forum Clean