FTSE 250 movers: Retailers drop, JD leads the fallers

10th Jun 2011 14:14

Seven of the ten top fallers are from the retail sector, with JD Sports Fashion losing over 6%. The Tempus column in the Times this morning said that, while the sports apparel chain is a more robust business than most on the high street, "with the shares on less than nine times this year's earnings, there seems little reason to buy."Supergroup, Dunelm, Sports Direct and Kesa Electricals are also falling sharply.Homebase and Argos owner Home Retail is unwanted after Nomura pulled back its target price on the stock from 180p to 160p, and kept its 'reduce' rating, on the back of margin pressures and concerns at Argos.Meanwhile, car and bike parts retailer Halfords has taken a hit after Charles Stanley downgraded its rating from 'accumulate' to 'hold' yesterday, as it thinks that the shares are unlikely to perform in the near term.Meanwhile, Bellway said it is well positioned to deliver operating margin and volume growth if market conditions remain unchanged following a return to a more normal reservation pattern and a healthy spring selling season. The housebuilder is the highest riser on Friday.---BCFTSE 250 - RisersBellway (BWY) 724.50p +3.95%Hays (HAS) 110.00p +3.68%Redrow (RDW) 116.80p +2.46%Regus (RGU) 110.30p +2.32%Ashmore Group (ASHM) 384.50p +1.91%Bwin.party Digital Entertainment (BPTY) 148.60p +1.78%Dixons Retail (DXNS) 17.87p +1.65%Berkeley Group Holdings (BKG) 1,130.00p +1.53%Bovis Homes Group (BVS) 425.90p +1.45%Grainger (GRI) 127.00p +1.28%FTSE 250 - FallersJD Sports Fashion (JD.) 880.50p -6.23%Supergroup (SGP) 946.00p -4.92%Dunelm Group (DNLM) 437.70p -4.81%Ferrexpo (FXPO) 462.70p -4.60%Halfords Group (HFD) 393.60p -3.03%Home Retail Group (HOME) 169.40p -2.92%Sports Direct International (SPD) 220.90p -2.64%Kesa Electricals (KESA) 139.80p -2.51%Fidelity China Special Situations (FCSS) 98.25p -2.34%AZ Electronic Materials SA (WI) (AZEM) 312.80p -2.25%