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FTSE 250 movers: Acacia glitters as gold rallies; Dignity tumbles on profit warning
London's FTSE 250 was down 0.1% to 20,652.10 in afternoon trade on Friday, with retailers in focus.
Acacia Mining glistened as gold prices rose. FXTM said that taking a look at the technical picture, gold continues to fulfil the prerequisites of a bullish trend as there have been consistently higher highs and higher lows.
"There is a possibility that a new higher low has been created at $1324.15 and as such could provide a foundation for bulls to elevate prices back towards $1340. A decisive breakout and weekly close above $1340 could pave a path towards $1360."
On the downside, funeral provider Dignity tumbled as it issued a profit warning, saying 2018 results would be slammed by a price war in the sector. The UK's only listed provider of funeral related services said 2018 results would be "substantially below the market's current expectations", adding that it cut the price of its simple funerals by 25% and a froze the cost of traditional ceremonies.
Retailers Dixons Carphone and Card Factory were hit by a double-whammy of bad news in the form a profit warning from flooring specialist Carpetright and disappointing UK retail sales figures.
Carpetright issued its second profit warning in as many months as it reported trading in its important post-Christmas period "significantly behind expectations".
Meanwhile, data from the Office for National Statistics showed UK retail sales sank sharply last month in the worst December performance for seven years as households continued to feel the real income squeeze.
Purecircle was in the red a day after it was downgraded by Liberum, while Cineworld was weaker after announcing earlier in the week a fully-underwritten rights issue to raise money to part fund its acquisition of US cinema chain Regal. Cineworld said it's offering four new ordinary shares for every one existing share at 157p, which is a 34% discount to the theoretical ex-rights price of 238.3p.
Risers
Domino's Pizza Group (DOM) 357.80p 3.50%
Renishaw (RSW) 5,710.00p 3.07%
Acacia Mining (ACA) 192.85p 2.42%
Aveva Group (AVV) 2,908.00p 2.39%
Ibstock (IBST) 262.80p 2.18%
Cobham (COB) 135.00p 2.16%
Ferrexpo (FXPO) 309.85p 2.03%
Sophos Group (SOPH) 647.45p 1.72%
Vectura Group (VEC) 113.70p 1.70%
BTG (BTG) 745.00p 1.64%
Fallers
Dignity (DTY) 958.84p -49.96%
Purecircle Limited (DI) (PURE) 420.50p -4.76%
Dixons Carphone (DC.) 187.20p -3.95%
Card Factory (CARD) 202.20p -3.90%
Capita (CPI) 365.20p -3.64%
Cineworld Group (CINE) 518.50p -3.45%
Babcock International Group (BAB) 714.40p -3.20%
Ultra Electronics Holdings (ULE) 1,451.00p -3.01%
Kier Group (KIE) 1,009.78p -3.00%
Saga (SAGA) 116.27p -2.95%