Domino's Pizza was flying high despite seeing a slow-down in year-on-year like-for-like (LFL) sales growth in the final quarter of 2012, as expected. The stock was boosted by the company's reassurance it is on target to meet full-year profit expectations.

In the 13 weeks to December 25, LFL sales rose by 3.6%, down from the preceding quarter's 3.9% growth. Panmure Gordon had predicted LFL sales growth of 3.3%. System sales for the period increased by 9.5% to £145.0m from £132.5m in the corresponding period of last year.

"Against a weak consumer backdrop, this update is as good as could be expected but does not provide for much by the way of upgrades," was the view of Wayne Brown at broker Collins Stewart.

"Domino's is a volume driven business where the combination of new openings and volume driven LFL sales growth are the key drivers. It is the latter that will be difficult to achieve in 2012 but the former that could provide greater momentum," Brown suggested.

"The consumer backdrop is weak and whilst Domino's has been investing in new product and extending hours into lunch and late-night, volume growth has remained subdued," the broker noted.

Nevertheless, it sticks with its "buy" recommendation, despite acknowledging that on a price/earnings ratio of 20 and an enterprise value/earnings before interest, tax, depreciation and amortisation of 13, it is not cheap.

Talvivaara Mining was still rising on Wednesday after announcing on Wednesday it had reached its production target for 2011.

Full year production totalled 16,087 tonnes (t) of nickel and 31,815t of zinc, while fourth quarter production of 4,769t nickel and 10,524t zinc was a new quarterly record.

Meanwhile Galliford Try was heading lower despite analyst Rachael Waring at Panmure Gordon today issuing a very positive note on the construction and house building group. In her own words, "In January 2011 we picked Galliford Try as our 'Stock of the Year'.

"Since then, the shares have risen by 50% and paid the largest dividend in the sector, outperforming the FTSE All Share by 55%.

"For the first time in this analyst's 19 year stock broking career, the 2011 pick is rolled over to become the 2012 key pick. Galliford is the most undervalued stock in the sector on EV/EBITDA, P/E and dividend yield."

DIY specialists Kingfisher and Home Retail, newsagent WH Smith, car parts & bike seller Halfords were all falling following a generally disappointing festive trading period for retailers generally.

FTSE 250 - Risers
Domino's Pizza UK & IRL (DOM) 441.30p +6.65%
Carpetright (CPR) 508.50p +3.37%
Ocado Group (OCDO) 62.10p +3.24%
Talvivaara Mining Company (TALV) 263.00p +3.02%
Premier Oil (PMO) 376.40p +3.01%
Shanks Group (SKS) 97.90p +2.51%
Micro Focus International (MCRO) 396.00p +2.40%
Exillon Energy (EXI) 275.30p +2.15%
Kier Group (KIE) 1,435.00p +2.14%
BH Global Ltd. USD Shares (BHGU) 11.77 +1.99%

FTSE 250 - Fallers
Kesa Electricals (KESA) 67.25p -6.08%
Home Retail Group (HOME) 89.00p -5.52%
New World Resources A Shares (NWR) 462.60p -5.15%
PZ Cussons (PZC) 343.40p -4.45%
WH Smith (SMWH) 515.00p -4.28%
Galliford Try (GFRD) 463.50p -4.28%
Centamin (DI) (CEY) 83.15p -3.65%
Murray International Trust (MYI) 928.50p -2.52%
Monks Inv Trust (MNKS) 310.10p -2.42%
Jupiter Fund Management (JUP) 214.70p -2.41%

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Related share prices
Galliford Try (GFRD) share price
Domino's Pizza UK & IRL (DOM) share price
Talvivaara Mining Company (TALV) share price
WH Smith (SMWH) share price
Home Retail Group (HOME) share price