LONDON (ShareCast) - (Sharecast News) - London's FTSE 250 was up 0.18% at 19,619.45 in afternoon trade on Tuesday, with Aston Martin Lagonda driving the index higher.
The high-end car manufacturer was the top riser after analysts at Jefferies upgraded the stock from 'underperform' to 'hold', adding that they were still "hoping for more" from the company.

"The shape of upcoming Q2 results, excess profit reliance on specials/collectibles and on-going liquidity risk keep us on the sideline. Operating drivers will look significantly more attractive than auto peers in 2020, with DBX launch, no major CO2 constraint and a bumper year for specials but these are fairly reflected in multiples considering execution risk and profit lumpiness," said the analysts.

At the other end of the index, AG Barr tumbled as the Irn-Bru maker warned on profits, pointing to poor volumes following the introduction of the soft drinks levy and disappointing spring and early summer weather.

Nicholas Hyett, equity analyst at Hargreaves Lansdown, said: "To say this is a curve ball is an understatement. Consumer goods companies like AG Barr are supposed to be reliable compounders, with sales that turn up come rain or shine. Unfortunately the combination of price changes and a bit more rain than shine has seen sales of Barr's soft drinks trailing behind last year's performance, and profits struggling even more."

"The pain for shareholders has been compounded by the fact that, with a price to earnings ratio of 26, the shares were priced for perfection, leaving them vulnerable to a tumble on the smallest disappointment."

The news also sent fellow drinks maker Britvic fizzing lower.

Insurer Hastings was under the cosh after saying it will take a one-off pre-tax charge of £8.4m this year as a result of the change to the Ogden rate, which is used to calculate how much accident victims should be given as a lump sum, from -0.75% to -0.25% with effect from 5 August.

Finally, Grainger dipped the day after the landlord started work on a 216-home private rented sector development in Leeds, with completion of the project expected in late 2021.

Market Movers

FTSE 250 (MCX) 19,619.45 0.18%


FTSE 250 - Risers

Aston Martin Lagonda Global Holdings (AML) 977.80p 4.24%
Pagegroup (PAGE) 435.60p 3.47%
Vivo Energy (VVO) 131.40p 3.30%
IWG (IWG) 351.50p 2.84%
Elementis (ELM) 134.10p 2.84%
Syncona Limited NPV (SYNC) 238.95p 2.77%
Mediclinic International (MDC) 335.30p 2.41%
Coats Group (COA) 81.80p 2.38%
Ashmore Group (ASHM) 528.00p 2.23%
Ted Baker (TED) 839.00p 2.19%

FTSE 250 - Fallers

Barr (A.G.) (BAG) 618.00p -28.88%
Hastings Group Holdings (HSTG) 196.70p -4.05%
Britvic (BVIC) 866.50p -2.04%
Amigo Holdings (AMGO) 178.18p -1.88%
Assura (AGR) 64.90p -1.52%
Telecom Plus (TEP) 1,356.00p -1.45%
Grainger (GRI) 239.80p -1.40%
Tullow Oil (TLW) 206.80p -1.38%
Card Factory (CARD) 173.80p -1.36%
Bovis Homes Group (BVS) 1,049.00p -1.32%

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