London’s FTSE 250 was up 0.1% at 22,958.59 in afternoon trade on Monday.
Harbour Energy and Cairn Energy both gained as oil prices rose, while gold miner Hochschild was up ahead of third-quarter production results on Tuesday.
On the downside, Darktrace was under the cosh after Peel Hunt initiated coverage of the cybersecurity firm at ‘sell’ as it took “a more grounded approach” to the valuation.
“Its growth has been driven by its powerful go-to-market strategy, targeting the need for companies to strengthen their cybersecurity defences,” the broker said. “While we believe strong growth rates will continue, we also see a disconnect between the valuation and the ultimate revenue opportunity.
“Having considered the potential market size, the intensifying competition, and Darktrace’s limited R&D spend, we take a more grounded approach to our valuation, giving a target price of 473p.”
FTSE 250 – Risers
Harbour Energy (HBR) 383.40p 5.85%
Ferrexpo (FXPO) 327.80p 5.54%
Energean (ENOG) 910.50p 3.29%
FirstGroup (FGP) 93.65p 3.25%
Cairn Energy (CNE) 193.70p 3.14%
Hochschild Mining (HOC) 154.70p 3.00%
Watches of Switzerland Group (WOSG) 1,124.00p 2.93%
Marks & Spencer Group (MKS) 183.15p 2.92%
Indivior (INDV) 239.40p 2.57%
Frasers Group (FRAS) 645.50p 2.54%
FTSE 250 – Fallers
Darktrace (DARK) 756.50p -19.99%
Chrysalis Investments Limited NPV (CHRY) 239.00p -4.02%
TP Icap Group (TCAP) 157.50p -3.04%
TUI AG Reg Shs (DI) (TUI) 229.70p -2.67%
Auction Technology Group (ATG) 1,314.00p -2.38%
Bytes Technology Group (BYIT) 500.00p -2.34%
PureTech Health (PRTC) 340.00p -2.16%
AO World (AO.) 146.30p -2.14%
Oxford Biomedica (OXB) 1,528.00p -2.05%
Unite Group (UTG) 1,081.50p -1.82%
