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FTSE 250 movers: Supergroup soars on RBC upgrade, Lonmin lower after Exane downgrade

Mon, 27th Apr 2015 13:43

SuperGroup was trading higher as RBC Capital Markets raised its rating on the clothing chain. The broker, which hiked its recommendation to 'outperform' from 'sector perform', also increased its price target to 1,150p on high hopes for the newly appointed management team.Vedanta Resources was boosted as investors anticipate another Chinese stimulus, which could drive construction and therefore demand for metals.Energy stocks such as Soco International and Hunting were bolstered by stronger oil prices, which remained at a four-month high.Shares in Tullow Oil reversed from early gains on weekend reports that the International Tribunal for the Law of the Seas ruled in its favour, allowing the outfit to continue with its exploration activities offshore Ivory Coast.Lonmin was also in the red as analysts at Exane BNP Paribas dramatically cut their price target for the stock from 260p to 133p. Analysts cut their platinum price estimates by 25% in the current year and 23% in the next, reflecting the view that "platinum/rhodium prices are likely to remain no more than a function of marginal production costs in the short/medium term, with recurring risks of a margin squeeze for platinum producers owing to unabated inflationary pressure in South Africa".Zoopla was trading lower on looming election uncertainty, as Labour's 'mansion tax' threatens to affect the property group's premium trade.RisersSupergroup (SGP) 992.00p +5.03%Vedanta Resources (VED) 654.50p +3.64%UBM (UBM) 567.00p +3.47%Ocado Group (OCDO) 353.20p +3.21%IMI (IMI) 1,260.00p +2.94%Balfour Beatty (BBY) 247.20p +2.40%Tate & Lyle (TATE) 619.50p +2.40%Britvic (BVIC) 759.50p +2.01%Ashmore Group (ASHM) 311.20p +1.93%Greggs (GRG) 1,116.00p +1.92%FallersTullow Oil (TLW) 405.90p -2.89%Telecom Plus (TEP) 790.00p -2.65%Polymetal International (POLY) 537.50p -2.54%Serco Group (SRP) 131.60p -2.45%Just Retirement Group (JRG) 171.00p -2.29%Centamin (DI) (CEY) 60.00p -2.20%Imagination Technologies Group (IMG) 205.80p -2.19%Acacia Mining (ACA) 286.40p -2.02%Paragon Group Of Companies (PAG) 428.60p -1.94%Saga (SAGA) 186.40p -1.89%
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26 Mar 2015 08:27

UPDATE 1-SuperGroup buys out U.S. licence, to start div payments

(Adds detail, shares) LONDON, March 26 (Reuters) - SuperGroup, the British company behind the Superdry fashion brand, has gained the exclusive rights to distribute its products in the U.S., Canada and Mexico, terminating the existing U.S. licence by paying 22.3 million pounds ($33 million).

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26 Mar 2015 07:54

London pre-open: Stocks to track US and Asian markets lower

UK stocks are expected to open in negative territory on Thursday morning, tracking declines in the US and Asia overnight. City sources predict the FTSE 100 will open 45 points lower than Wednesday's close of 6,990.97. US markets suffered sharp declines on Wednesday as economic data continued to dis

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26 Mar 2015 07:49

SuperGroup Affirms Guidance As It Buys US Licence, To Start Dividends

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26 Mar 2015 07:24

SuperGroup to start dividend payments in 2015-16 year

LONDON, March 26 (Reuters) - SuperGroup, the British company behind the Superdry fashion brand, said on Thursday it would start paying dividends with an interim payout in its 2015-16 financial year. In a strategy update the firm, whose trademark jackets, hooded tops, check shirts and joggin

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26 Mar 2015 07:03

Supergroup pledges first dividend in 2016 as part of strategy update

As well as reiterated recent profit guidance, Supergroup chief executive Euan Sutherland has unveiled a new strategy for the company that includes a first dividend in 2016 and the surprise repurchase of its North American rights. The FTSE 250 company, which is best known for its Japan-inspired Super

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26 Mar 2015 06:17

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25 Mar 2015 16:14

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