LONDON (ShareCast) - (Sharecast News) - London's FTSE 250 was up 0.10% at 19,840.11 in afternoon trade on Friday, with Inchcape leading the index higher.
The car dealership operator staged a recovery the day after it reported a drop in interim profits as higher expenses more than offset a slight rise in revenues.

Howden Joinery climbed after analysts at Canaccord Genuity raised their target price for the stock from 515p to 525p after the group delivered a "solid set of results" a day earlier, with turnover and gross profit as expected and lower than anticipated operating costs boosting earnings.

"It is too early to conclude how the strategic initiatives are delivering but these are good results from a sound business. We have slightly increased our full year expectations and expect more gross margin improvement in the second half, but acknowledge the risks facing the group in the second half," said analysts.

Homeserve rose a day after senior independent director Stella David acquired 28,395 ordinary shares in the emergency repairs business.

While Plus500 led the fallers, Mike Ashley's Sports Direct followed close behind as the sportswear retailer again delayed the release of its preliminary results, which had been due at 0700 BST.

Neil Wilson, chief market analyst at CMC Markets, said: "In short it's a total and utter shambles and betrays a number of problems at the business after Ashley embarked on his rather random acquisition spree. Above all it betrays a total disregard for shareholders. It not only raises questions about the haphazard way in which the investor relations and finance teams are run, but also could suggest a material problem with the numbers. Additionally it raises a question about whether Ashley will ultimately take the company private."

The retailer said it was "still finalising" the results and would give a further update at 1600 BST.

TBC Bank dipped on the news that its chairman and deputy chairman decided to step down from the bank's board after Georgian prosecutors charged the pair with money laundering.

Finally, Intu Properties edged lower ahead of the release of the release of its interim results next week.

Market Movers

FTSE 250 (MCX) 19,840.11 0.10%


FTSE 250 - Risers

Inchcape (INCH) 625.50p 4.51%
Bakkavor Group (BAKK) 114.99p 3.41%
Howden Joinery Group (HWDN) 566.80p 2.72%
Ultra Electronics Holdings (ULE) 1,939.00p 2.65%
Homeserve (HSV) 1,165.00p 2.46%
Ascential (ASCL) 384.20p 2.29%
Capital & Counties Properties (CAPC) 217.20p 2.26%
Future (FUTR) 1,099.29p 1.98%
Polar Capital Technology Trust (PCT) 1,460.00p 1.96%
Hays (HAS) 155.30p 1.90%

FTSE 250 - Fallers

Plus500 Ltd (DI) (PLUS) 603.60p -6.71%
Aston Martin Lagonda Global Holdings (AML) 601.60p -4.60%
Sports Direct International (SPD) 229.20p -4.18%
TBC Bank Group (TBCG) 1,220.00p -3.17%
NewRiver REIT (NRR) 173.51p -2.85%
Tullow Oil (TLW) 194.00p -2.83%
Vesuvius (VSVS) 517.50p -2.73%
Beazley (BEZ) 562.00p -2.68%
Intu Properties (INTU) 77.00p -2.53%
IG Group Holdings (IGG) 559.60p -2.51%

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