FTSE 250 movers: Computacenter hit by downgrade

18th Oct 2013 15:48

IT infrastructure services firm Computacenter was trading in the red on Friday after UBS downgraded the stock from 'buy' to 'neutral'. While the bank said that the stock's valuation is not demanding, it believes the company is "navigating a tricky path in France and Germany's turnaround is at an early stage". It added: "With July's capital return behind us, we see limited upside from current levels and move to a 'neutral' rating."Provident Financial dropped after saying it had experienced a weak performance from its consumer credit division, which sells loans door-to-door. The group said the division had seen no change to the weak pattern of demand reported in the first half of the year and added that with household bills continuing to rise, customers were still cautious. It also suffered a further decline in its customer numbers, which fell 8.7% at the end of September compared with a 5.8% decline reported at its half year results. Meanwhile, mining stocks were generally on the up as investor confidence grew on the back of hopes that the political uncertainty in Washington may prompt the Federal Reserve to continue with its stimulus measures for a little longer, and after Chinese GDP grew at a year-on-year rate of 7.8% in the third quarter, rebounding after the 7.5% growth seen in the second quarter. Centamin, Polymetal and Hochschild were all firmly higher. FTSE 250 - RisersHunting (HTG) 874.00p +7.83%Centamin (DI) (CEY) 51.05p +6.35%Polymetal International (POLY) 603.50p +5.88%Electrocomponents (ECM) 292.00p +4.85%Regus (RGU) 209.50p +4.65%CSR (CSR) 555.50p +4.61%Alent (ALNT) 350.60p +4.00%Fidessa Group (FDSA) 1,970.00p +3.79%Petra Diamonds Ltd.(DI) (PDL) 124.40p +3.67%Hochschild Mining (HOC) 163.70p +3.67%FTSE 250 - FallersComputacenter (CCC) 545.00p -4.13%Provident Financial (PFG) 1,568.00p -3.21%IP Group (IPO) 136.50p -1.80%Perform Group (PER) 550.50p -1.70%Daejan Holdings (DJAN) 3,949.00p -1.62%Spirent Communications (SPT) 123.20p -1.52%Cairn Energy (CNE) 285.00p -1.52%UDG Healthcare Public Limited Company (UDG) 319.60p -1.48%Menzies(John) (MNZS) 813.00p -1.45%Kentz Corporation Ltd. (KENZ) 529.50p -1.40%NR