FTSE 250 movers: AJ Bell trades higher, JD Wetherspoon heads south

(Sharecast News) - London's FTSE 250 was up 0.24% at 2,100.73 in afternoon trade on Friday. AJ Bell shares traded higher after Deutsche Bank raised its price target and insiders showed confidence through a major share purchase. Deutsche Bank lifted its target price on AJ Bell from 600p to 625p, maintaining a 'buy' rating and implying nearly 18% upside from the previous close. The move follows strong interim results and a positive outlook for margins and customer growth, as well as an 85,000 share purchase by chief executive Michael Summersgill.

Bridgepoint Group was in the green on Friday after the European Commission cleared its joint acquisition with Centrica of National Grid's Grain LNG terminal in the UK, while Hochschild shares were up due to record-breaking gold and silver prices, with the precious metals miner surging as investors continued to pile into safe-haven assets, with gold trading just below record highs seen earlier in the week

Despite a jump in full-year sales and profits, pub chain JD Wetherspoon traded lower as it warned higher energy prices were expected to add £7m to its cost base, while the new extended producer responsibility tax - which was designed to reduce packaging waste - would cost £2.4m in the current year. It also said increases in the UK minimum wage and employers' National Insurance contributions would add around £60m per year to its cost base.

Russ Mould, investment director at AJ Bell, said: "The full-year numbers are decent, with record sales and profits up by double digits."

But he continued: "Holding the dividend flat suggests management are not feeling overly confident about the outcome, with the guidance for a 'reasonable outcome' for the current year open to interpretation and unlikely to get pulses racing".

Reporting by Iain Gilbert at Sharecast.com

FTSE 250 - Risers

AJ Bell (AJB) 531.00p 4.12% Bridgepoint Group (Reg S) (BPT) 316.00p 3.47% Man Group (EMG) 188.60p 3.23% Hochschild Mining (HOC) 381.40p 2.75% Oxford Biomedica (OXB) 612.00p 2.68% Endeavour Mining (EDV) 3,132.00p 2.55% Senior (SNR) 202.50p 2.27% Morgan Advanced Materials (MGAM) 229.50p 2.23% Lion Finance Group (BGEO) 7,635.00p 2.07% Wizz Air Holdings (WIZZ) 1,197.00p 1.87%

FTSE 250 - Fallers

Aston Martin Lagonda Global Holdings (AML) 81.05p -5.70% Wetherspoon (J.D.) (JDW) 638.00p -4.06% ITV (ITV) 77.45p -2.58% Frasers Group (FRAS) 752.00p -2.34% Oxford Nanopore Technologies (ONT) 150.00p -1.96% Spire Healthcare Group (SPI) 236.50p -1.87% THG (THG) 38.34p -1.84% FirstGroup (FGP) 218.20p -1.80% Gamma Communications (GAMA) 991.00p -1.29% Bakkavor Group (BAKK) 208.50p -1.18%