FTSE 250 Watch: Mid-Cap Index Dips Slightly

on Sep 12, 2013
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iNVEZZ.com Thursday, September 12th: The FTSE 250 fell slightly today after gaining in the previous sessions of the week on the back of strong data from China and the UK. London’s mid-cap shares index was down 0.26 percent at 15,206.70 as of 13:19 BST.

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Among the top gainers in the FTSE 250 today was Home Retail Group (LON:HOME) which announced an 11 percent increase in like-for-like sales at its Homebase unit for the 13 weeks to August 31, well above analysts’ estimates of a 3.3 percent growth. Sales at the group’s Argos unit were up 2.7 percent, also beating expectations of a 2 percent rise.

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Terry Duddy, Group CEO, said full-year profits were expected in line with current market expectations although the outcome would depend on Christmas trading at Argos.

“We are on track to deliver the investment plans which will drive the long term development of both businesses,” said Duddy, who recently announced he would step down by next July.
Home Retail Group’s shares were leading the FTSE 250 gainers’ list as of 12.30 BST, trading 4.76 percent higher at 171.70p, adding to a 12.05 percent gain over the last 30 days.

Perform Group (LON:PER) was the second best gainer with shares up 4.29 percent at 571p as of the same time. The group has had a strong week after its subsidiary Sporting News Media announced on
Monday it was joining up with the National Football League to bring the NFL’s premium video content year-round to Sporting News Media’s SN ePlayer, the largest digital sports video-on-demand broadcast platform. Following the announcement the media group led the FTSE All Share on Monday with an 8.5 percent gain to 548p.

**Delayed Contract Awards Push Down Dialight**
Dialight Plc (LON:DIA) led today’s losers after announcing that full-year profit would probably miss its forecasts as a result of delays in contract awards.
!m[Home Retail Group Shines, While Dialight Slumps](/uploads/story/5431/thumbs/pic1_inline.jpg)
The shares of the England-based producer of light-emitting diode fittings plummeted 21 percent, their largest intraday loss since April 2007, and were 18.47 percent lower at 1,122p as of 12.51 BST. On June 11, Dialight’s share price dropped 13.5 percent after the company warned it would miss first-half earnings forecasts.
Today’s statement said that since publishing its interim report in July the group has won one contract for the so-called obstruction systems for mobile-phone towers and made good progress toward being awarded others but noted that it ”does not expect these contracts to be awarded in time to sufficiently impact the current financial year.”
**The FTSE 250 was 0.27 percent down at 15,204.40 as of 13:27 BST on 12 September 2013.**

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FTSE 100 Watch: Footsie near One-Month High on Upbeat China and UK Data FTSE 100 Watch: BG Output Drop Forecast Weighs on the Footsie

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