FTSE 250 movers: Citi builds up Redrow

16th Dec 2009 11:09

Redrow is leading the risers in the FTSE 250 after broker Citigroup raised its rating on the housebuilder to 'buy'.The broker thinks underlying sectors in the sector augur well for the future.Redrow's peer Barratt also upgraded to 'buy' is another strong riser.Drax is powering ahead. The power station operator expects underlying profits to beat market forecasts this year, despite lower prices for electricity, but is more cautious on pricing going forward.Sticking with electricity-related stocks, electrical component maker Laird has reassured the market by saying profits for the year will be in line with forecasts. The shares are higher despite the company saying it is not yet seeing any meaningful recovery, with the tough conditions seen earlier in the year continuing.Punch Taverns is suffering after the tenanted pub group warned trading has remained difficult and the challenging economic environment and a smaller pub estate will affect profitability in the short term. Peer Marston's is the heaviest faller.FTSE 250 - RisersRedrow (RDW) 130.10p +6.20%Barratt Developments (BDEV) 115.50p +5.58%AG Barr (BAG) 890.00p +4.71%ITV (ITV) 55.10p +4.55%Premier Foods (PFD) 34.43p +4.52%Laird (LRD) 113.70p +4.12%Bovis Homes Group (BVS) 384.70p +4.06%St James's Place (STJ) 238.00p +3.84%Drax Group (DRX) 424.60p +3.56%Micro Focus International Plc (MCRO) 469.80p +3.25%FTSE 250 - FallersMarston's (MARS) 89.50p -6.48%Northumbrian Water Group (NWG) 268.50p -3.42%Computacenter (CCC) 231.90p -3.33%Punch Taverns (PUB) 78.95p -2.71%Vectura Group (VEC) 73.60p -2.39%TR Property Inv Trust (TRY) 151.60p -2.19%PV Crystalox Solar (PVCS) 58.15p -1.94%International Personal Finance (IPF) 209.90p -1.92%HSBC Infrastructure Company Ltd. (HICL) 112.00p -1.75%Daejan Holdings (DJAN) 2,681.00p -1.72%