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FTSE 250 movers: Housebuilders advance; Hilton Food slumps on results
(Sharecast News) - London's FTSE 250 was up 0.2% at 18,891.18 in afternoon trade on Thursday. Housebuilders Redrow and Crest Nicholson were among the gainers. Figures released on Wednesday by the Office for National Statistics showed that house prices rose in the year to July at their highest annual rate since May 2003.
Average prices increased 15.5%, up from 7.8% in June. The ONS attributed the jump in annual inflation to a base effect from the falls in prices seen this time last year, as a result of changes in the stamp duty holiday.
Hilton Food was under the cosh after it warned on full-year profits as it posted a drop in interim pre-tax profit, having taken a hit from higher costs.
Electricals retailer Currys was weaker after Berenberg initiated coverage of the shares at 'hold'.
"With a credible strategy to rebuild the profitability of its UK and Ireland (UK&I) business, an underappreciated Nordic presence, and a sustainably stronger balance sheet, there are several reasons to believe that there is upside to Currys' share price on a medium- to long-term view," the bank said.
"However, given the group's exposure to the increasingly difficult macroeconomic backdrop, we initiate coverage with a hold rating and GBp70 price target."
FTSE 250 - Risers
Redrow (RDW) 503.50p 6.09% Abrdn Private Equity Opportunities Trust (APEO) 432.00p 5.62% Baltic Classifieds Group (BCG) 145.40p 3.86% Carnival (CCL) 794.80p 3.33% 4Imprint Group (FOUR) 3,600.00p 3.30% Crest Nicholson Holdings (CRST) 227.00p 3.18% TUI AG Reg Shs (DI) (TUI) 136.10p 2.68% Helios Towers (HTWS) 125.20p 2.37% Mitie Group (MTO) 74.50p 2.34% Ashmore Group (ASHM) 220.20p 2.13%
FTSE 250 - Fallers
Hilton Food Group (HFG) 691.00p -26.57% Currys (CURY) 61.25p -5.11% FirstGroup (FGP) 116.70p -4.81% Cranswick (CWK) 2,968.00p -4.38% TBC Bank Group (TBCG) 1,758.00p -4.35% ASOS (ASC) 648.00p -4.14% Greencore Group (CDI) (GNC) 85.30p -3.78% Marks & Spencer Group (MKS) 115.90p -3.58% W.A.G Payment Solutions (WPS) 92.70p -3.44% Pennon Group (PNN) 908.00p -3.30%
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