FTSE 250 watch: Index advances on Yellen’s dovish comments

on Nov 14, 2013
Updated: Oct 21, 2019
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iNVEZZ.com, Thursday, November 14: The FTSE 250 (INDEXFTSE:MCX) mid-cap equities index has risen today as dovish remarks about monetary stimulus from Janet Yellen, President Obama’s nominee to head the US Federal Reserve, has lifted UK stocks, which yesterday fell under pressure from hawkish comments by members of the US Federal Open Market Committee. In prepared remarks released ahead of Yellen’s confirmation hearing later today she said that there is “more work to do” to boost the economy and labour market as unemployment is still high.

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Worse-than-expected UK retail sale data, however, has pared stock market gains. The UK’s October retail sales volumes surprisingly fell by 0.7 percent month-on-month following a 0.6 percent rise last month, disappointing analysts who had expected no change.
**FTSE 250 winners**
**Ophir Energy** (LON:OPHR) surged as much as 18 percent after the Africa-focused oil and gas exploration company said it had entered into an agreement to sell a 20 percent interest in Tanzanian Blocks 1, 3 and 4 to Pavilion Energy, a wholly owned subsidiary of Singapore-based investment company Temasek, for $1.288 billion (£804.6 million). Ophir Energy’s share price was 371.20p as at 13.07 UTC, up 12.79 percent.

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**Hansteen Holdings** (LON:HSTN) rose after the London-based real estate investment trust (REIT) said its rental income has continued to rise. In an interim management statement covering the period from July 1 to November 14, the REIT, which invests in continental Europe and UK industrial property, said total annualised rental income increased to £136.9 million, including UK funds, from £93.5 million at the end of June. The REIT’s share price was 104.50p, up 2.45 percent, as at 13.17 UTC.

Shares in house builder Taylor Wimpey (LON:TW) rose after it said it sold all the homes it is building this year, assisted by the UK government’s Help to Buy scheme. Its share price was 107.40p as at 13:25 UTC, up 3.87 percent.
All the houses due for completion in 2013 were sold, together with 30 percent of those to be completed next year, Taylor Wimpey said in an interim management statement for the period from 1 July 2013 to today. The company currently has 7,557 homes under construction, compared with 6,662 at the same time in 2012. As a result of the better trading environment, Taylor Wimpey is confident of improving its operating margins by 2-3 percent next year.

**FTSE 250 Losers**

**3i Group** (LON:III),the multinational private equity and venture capital company, today disappointed investors when it revealed it had no plans to launch a new fund in the current or next financial year. Shares fell despite the announcement of a special interim dividend of 4p per share (3i Group share price: H1 net asset value misses expectations – https://invezz.com/news/equities/6810-3i-group-share-price-h1-net-asset-value-misses-expectations). 3i’s share price was 353.20p as at 13:33 UTC, down 4.75 percent.

**BBA Aviation** (LON:BBA) fell by 4.31percent to 320.00p as of 13.33 UTC after the airport support services and engine repair company said its markets had been mixed during the third quarter amid continued volatility, although it added that the fourth quarter had started well. The company also said in its Interim Management Statement for the period from 1 July to 13 November 2013 that it still expects to make good progress in 2013 and remains cautious with its near-term planning due to the volatility in its markets.
Trade these shares now through Hargreaves Lansdown from £5.95 per deal.
Prices can go up and down meaning you can get back less than you invest. This is not advice. Dealing services provided by Hargreaves Lansdown.
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