FTSE 250 movers: Tullett Prebon and ICAP jump after UBS upgrade

30th May 2013 14:48

Inter-dealer brokers Tullett Prebon and ICAP surged on Thursday afternoon after UBS upgraded both stocks from 'sell' to 'neutral' following their recent underperformance. While the broker said it remains cautious on inter-dealer brokers in general due to "structural issues", it sees "risks to the upside" for valuations as well as higher trading volumes.Other financial stocks however were out of favour, including Investec, Ashmore and Jupiter Fund Management.Transport firm FirstGroup was a high riser, bouncing back strongly after hitting a 52-week low yesterday, having fallen around 50% since its full-year results last week. The company disappointed markets on May 20th after unveiling a sharp fall in profits, a cut in the dividend, a £615m rights issue and the resignation of its Chairman. Perform Group was making decent gains after announcing that its newly created joint venture Perform Sporting News was ranked number one by comScore in digital sports video in April after reaching more than 22m unique viewers.FTSE 250 - RisersTullett Prebon (TLPR) 297.20p +8.11%FirstGroup (FGP) 126.00p +6.78%Petra Diamonds Ltd.(DI) (PDL) 114.50p +4.57%ICAP (IAP) 364.80p +4.38%Brewin Dolphin Holdings (BRW) 240.00p +4.21%Lonmin (LMI) 282.10p +4.10%Essar Energy (ESSR) 149.80p +3.03%Dunelm Group (DNLM) 885.50p +2.97%Salamander Energy (SMDR) 171.80p +2.87%Britvic (BVIC) 528.50p +2.82%FTSE 250 - FallersAshtead Group (AHT) 622.00p -4.23%Persimmon (PSN) 1,201.00p -3.30%New World Resources A Shares (NWR) 104.50p -3.15%Cable & Wireless Communications (CWC) 43.97p -3.13%Investec (INVP) 463.50p -2.71%Ashmore Group (ASHM) 404.50p -2.69%Drax Group (DRX) 564.50p -2.67%Jupiter Fund Management (JUP) 329.60p -2.46%RPS Group (RPS) 212.00p -2.39%Lancashire Holdings (LRE) 768.50p -2.29%