London's FTSE 250 was down 0.1% to 18,392.02 in afternoon trade, with broker notes providing a good chunk of the action.
Evraz was the standout gainer after Citigroup bumped up the stock to 'neutral' from 'sell'.
Recruiter Pagegroup was a high riser after it posted an increase in fourth-quarter gross profit and said it expects operating profit for 2016 to be towards the top end of the range of market forecasts.
Group gross profit was up 3.8% to £163.4m, marking a record quarter for the group, although gross profit I the UK was down 6.7% to £33.8m, as client and candidate confidence levels deteriorated and activity levels dwindled.
Engineers Spectris and Spirax-Sarco Engineering were lifted by a note from Bank of America Merrill Lynch that upgraded both stocks.
Spectris was upgraded to 'buy' from 'underperform' on the potential for self-help, with a 2,600p target price, and Spirax was upped to the same rating from 'neutral' previously as it offers "quality and cyclical growth with lower relative valuation", with a target of 4,600p.
Debenhams pushed higher ahead of a trading statement on Thursday.
On the downside, aerospace and defence group Cobham tanked as it posted group trading profit below guidance for the year ended 31 December and said it was not recommending a final dividend.
It a post-close trading update, the company said group trading profit for the year came in at £245m, below the range of £255m to £275m set out in the update back in October.
Travel company Thomas Cook was weaker as Credit Suisse cut its stance on the stock to 'neutral' from 'outperform', noting the shares
have risen 63% from the post-Brexit lows and reached its target price and pointing to uncertainty in the UK and Germany.
Tullow Oil gushed lower on disappointing production guidance. Following first oil from its TEN field offshore Ghana in August, the company produced an average of 65,500 barrels of oil per day from West Africa and said in 2017 it expects to average between 78,000 and 85,000 bopd, which was below some analysts' expectations.
UBM was under the cosh after Berenberg cut the stock to 'sell' from 'hold' and trimmed the price target to 675p from 700p.
"With the full price of the recent Allworld acquisition (14x 2017E EBITDA) limiting scope for future accretive M&A and potentially putting off trade suitors, we see the risk/reward as unattractive and see better opportunities elsewhere in the peer group."
Evraz (EVR) 220.50p 5.76%
Pagegroup (PAGE) 411.60p 4.73%
Spectris (SXS) 2,484.00p 4.11%
Cranswick (CWK) 2,434.00p 3.40%
AO World (AO.) 186.80p 3.09%
Debenhams (DEB) 54.20p 2.85%
Spirax-Sarco Engineering (SPX) 4,396.00p 2.66%
Zoopla Property Group (ZPLA) 345.60p 2.40%
Greencore Group (GNC) 244.40p 2.22%
Centamin (DI) (CEY) 146.60p 2.16%
Cobham (COB) 137.80p -16.28%
Thomas Cook Group (TCG) 84.70p -4.24%
Tullow Oil (TLW) 312.70p -3.10%
Bodycote (BOY) 625.50p -2.87%
Stagecoach Group (SGC) 214.80p -2.45%
Virgin Money Holdings (UK) (VM.) 322.00p -2.42%
UBM (UBM) 730.00p -2.21%
Ladbrokes Coral Group (LCL) 119.90p -2.04%
Inmarsat (ISAT) 751.50p -2.02%
Berkeley Group Holdings (The) (BKG) 2,891.00p -1.97%