FTSE 250 movers: Ceres surges, Dunelm gains
FTSE 250: 22,152.04 -18.93 (-0.09%)
Homeware retailer Dunelm gained after RBC Capital Markets upgraded to the shares to 'outperform' from 'sector perform'. It said the stock has de-rated by 2-3 P/E turns over the past two years, given a stable profit trend and concerns over maturity.
"However, we think it should now see an acceleration in growth, driven by market share gains and gross margin improvement.
"The shares have lagged the sector despite DNLM's improving outlook. Hence, we see an opportunity here and upgrade Dunelm to outperform."
Ceres Power surged after a target price hike from Goldman Sachs to 480p from 246p.
Energy stocks rose after a jump in crude oil prices. Harbour Energy, Ithaca and Energean all rose on the news.
"Brent crude oil climbed to $65.10 a barrel this morning, marking a fourth straight day of gains as OPEC+ signalled it will pause production hikes in early 2026 after a modest boost in December. The move eases fears of oversupply, while fresh US sanctions on Russian oil majors and weekend drone strikes on key infrastructure add geopolitical risk to the mix," said Hargreaves Lansdown analyst Matt Britzman.
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