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FTSE 250 movers: M&S benefits from Ocado upgrade; Crest Nicholson hit by rate fears

By Frank Prenesti

Date: Monday 18 Sep 2023

(Sharecast News) - Shares in Marks & Spencer gained on the back of a broker upgrade for its online grocery delivery partner Ocado on Monday.

Jefferies hiked its target price for the online grocery group from 550p to 750p, as it lifted its medium-term profit margin forecasts for its retail arm, Ocado Retail.

Housing and property-related stocks were out of favour, including Crest Nicholson as markets awaited another potential interest-rate hike by the Bank of England on Thursday.

Analysts unanimously expect the central bank to tighten monetary policy further this week, but it is hoped that this will be the peak for rates in the current cycle, before rates are cut in 2024. Crest last month issued a profit warning due to deteriorating market conditions.


FTSE 250 (MCX) 18,534.07 -1.36%


FTSE 250 - Risers

Helios Towers (HTWS) 85.10p 4.67%
Drax Group (DRX) 511.40p 2.77%
Bakkavor Group (BAKK) 97.60p 2.52%
Target Healthcare Reit Ltd (THRL) 78.50p 2.48%
International Distributions Services (IDS) 263.00p 2.22%
NCC Group (NCC) 102.00p 2.00%
Petershill Partners (PHLL) 163.80p 1.99%
Foresight Group Holdings Limited NPV (FSG) 448.00p 1.82%
Vesuvius (VSVS) 440.40p 1.66%
TBC Bank Group (TBCG) 2,905.00p 1.22%

FTSE 250 - Fallers

Aston Martin Lagonda Global Holdings (AML) 308.60p -5.28%
Ceres Power Holdings (CWR) 341.60p -5.11%
Ferrexpo (FXPO) 79.65p -4.90%
Ascential (ASCL) 195.70p -4.82%
Future (FUTR) 753.50p -4.80%
Savills (SVS) 887.50p -4.47%
Wizz Air Holdings (WIZZ) 1,970.50p -4.34%
Greggs (GRG) 2,432.00p -4.25%
Persimmon (PSN) 1,033.50p -4.22%
Watches of Switzerland Group (WOSG) 574.00p -4.09%

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