FTSE 250 movers: AO World rallies; Airtel Africa hit by downgrade
By Michele Maatouk
Date: Friday 23 Oct 2020
(Sharecast News) - London's FTSE 250 was up 1% at 18,081.26 in afternoon trade on Friday.
Online electricals retailer AO World was a high riser after the release of better-than-expected UK retail sales figures.
Data out earlier from the ONS showed retail sales rose in September for the fifth consecutive month as they continue to recover from the Covid-19 slump. Retail sales rose 1.5% on the month in September, beating expectations for a 0.4% increase.
Kainos shares rallied as Berenberg upgraded its stance on the software company to 'buy' from 'hold' and hiked the price target to 1,480p from 915p, noting that the half-year trading update pointed to "extraordinary strength" across the business.
Berenberg said it had recognised the attractive qualities of the business but its premium rating had led the bank to stay on the sidelines. However, it ultimately underestimated the strength of the earnings drivers.
On the downside, Airtel Africa was under the cosh after the release of its half-year results, as Barclays downgraded its rating on the shares to 'underweight' from 'overweight'.
FTSE 250 - Risers
AO World (AO.) 375.50p 10.28%
Provident Financial (PFG) 222.60p 7.95%
Shaftesbury (SHB) 450.40p 7.24%
Wetherspoon (J.D.) (JDW) 920.50p 5.80%
Kainos Group (KNOS) 1,374.00p 5.53%
Vistry Group (VTY) 603.00p 5.51%
Capital & Counties Properties (CAPC) 108.80p 5.43%
Ibstock (IBST) 178.80p 4.99%
Moneysupermarket.com Group (MONY) 252.40p 4.90%
Aggreko (AGK) 476.20p 4.89%
FTSE 250 - Fallers
Computacenter (CCC) 2,400.00p -4.00%
Airtel Africa (AAF) 62.70p -3.24%
C&C Group (CCR) 174.60p -2.13%
Apax Global Alpha Limited (APAX) 161.20p -2.07%
Greencore Group (GNC) 101.10p -1.75%
Trainline (TRN) 287.80p -1.44%
Cranswick (CWK) 3,398.00p -1.39%
Domino's Pizza Group (DOM) 319.60p -1.36%
Oxford Instruments (OXIG) 1,656.00p -1.19%
CLS Holdings (CLI) 195.20p -1.11%
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