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FTSE 250 movers: Drax leads charge while Grafton Group takes a hit

Thu, 09th Jul 2015 16:11

Mid-cap stocks were up slightly on Thursday, by 1.07% at 16:42, with power generator Drax leading the upward charge.The power company put in a solid performance after tumbling to an all-time low on Wednesday after Chancellor of the Exchequer George Osborne announced the government will remove the Climate Change Levy exemption for renewable electricity generated after 1 August 2015.Drax said it expects the change to lead to a reduction in earnings before interest, tax, depreciation and amortisation of around £30m in 2015 and £60m in 2016.The second fastest climber SuperGroup rose 7.17% to 1,330p after posting a 2% rise in pre-tax proit. The clothing retailer also said it signed a joint venture that will allow it to enter the Chinese market.Recruitment firm Hays also had a strong performance as it said second half operating profits would come in ahead of those seen in the first half of the year.Hays shares were up despite the company warning foreign exchange movements would continue to impact profitability.Shares in DIY firm Grafton Group took the biggest dip of the mid-caps after the company said in an update margins were modest.The company said revenue for the six months to June 30 increased by 6.6% from to £1.015bn to £1.08 bn, despite weaker pricing in the UK plumbing and heating market and a competitive market.Debenhams shares fell after UBS downgraded the stock to 'neutral' from 'buy', saying the risk-reward ratio was now balanced.UBS said Debenhams was almost halfway through the gross margin focused strategy and there has been a net gross margin benefit of only 10-20 basis points.Stock in Fidelity China Special Situations and Man Group bounced back, tracking overnight gains in Shanghai shares.
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31 Oct 2014 10:59

MARKET COMMENT: London Jolted Higher By Japanese Stimulus

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31 Oct 2014 10:23

UPDATE 3-SuperGroup says no discounts as warm weather hits profit outlook

* Cuts profit guidance to 60-65 mln pounds * Q2 retail and wholesale sales hit by warm weather * Cautious outlook on warm autumn, sector promotions * Shares down as much as 12.5 pct (Writes through, adds details, quotes) By Neil Maidment LONDON, Oct 31 (Reuters) -

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31 Oct 2014 09:51

BUZZ-SuperGroup: profit warning

** UK fashion retailer SuperGroup slides to 4-1/2 month lows on a profit warning. ** Becomes latest retailer to see demand for winter clothing crimped by unusually warm autumn; Next cut its profit forecasts earlier in the week. ** SuperGroup down 8.3 pct, top FTSE 250 faller by some m

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31 Oct 2014 09:36

Friday broker round-up UPDATE

Afren: Deutsche Bank lowers target price from 110p to 105p, leaving its hold recommendation unaltered. Aviva: Barclays ups target price from 397p to 420p and reiterates its equal-weight rating. Barclays: Deutsche Bank lowers target price from 300p to 295p and leaves its buy recommendation. Country

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31 Oct 2014 09:34

UK BROKER RATINGS: S&P Capital Cuts BT To Sell From Hold

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31 Oct 2014 08:34

London open: RBS and IAG lead gains as UK stocks rise on BoJ stimulus

London's stock market jumped in early deals on Friday, trading at levels not seen since the start of the month, after Japan's central bank unexpectedly ramped up its monetary-easing plan in a bid to revive growth. Sentiment was also helped by some well-received third-quarter results from heavyweight

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31 Oct 2014 08:25

Situation certainly not super as profit guidance is lowered by SuperGroup

Shares in SuperGroup slumped on Friday morning after the clothing retailer, which owns the Superdry brand, cut its profit guidance. The group said the exceptionally warm weather had resulted in a "high degree of uncertainty" around the future performance of the autumn/winter range and consequently i

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31 Oct 2014 08:21

UK MORNING BRIEFING: London Shares Sparked By Japan Stimulus

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31 Oct 2014 07:51

SuperGroup Downgrades Guidance As Warm Weather Causes Uncertainty

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31 Oct 2014 07:36

MARKET COMMENT: Bank Of Japan Surprise Stimulus Sets UK For Firm Open

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31 Oct 2014 07:18

SuperGroup cuts profit outlook as warm weather bites again

LONDON, Oct 31 (Reuters) - SuperGroup, the British company behind the Superdry fashion brand, cut its full-year profit guidance on Friday, saying it had become the latest retailer to see demand for its winter wares fall victim to an unsually warm autumn. The company said it expected full-ye

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31 Oct 2014 06:19

UK Earnings, Trading Statements Calendar - Week Ahead

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30 Oct 2014 16:10

UK Earnings, Trading Statements Calendar - Week Ahead

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29 Oct 2014 17:15

MARKET COMMENT: FTSE 100 Closes At 3 Week High Ahead Of Fed Decision

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29 Oct 2014 15:42

FTSE 250 movers: Vedanta climbs on bauxite hopes

Diversified metals and mining major Vedanta Resources was higher after chairman Anil Agarwal said the problems with bauxite supplies to its Lanjigarh aluminium refinery in three or four month's time. "The state government has assured us that they are working on 2-3 alternative bauxite mines for our

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