FTSE 250 movers: Wood Group boosted by upgrade, Grafton up on results

London's FTSE 250 was flat at 20,648.21 in afternoon trade on Wednesday.

Wood Group was the standout gainer after an upgrade to 'equalweight' from 'underweight' at Morgan Stanley.

Builders' merchant Grafton Group rallied after it posted a 19% jump in first-half pre-tax profit to £90m.

Canaccord Genuity said the interim results were "slightly better than expected" as the group continues to benefit from its overseas exposure and self-help. "Overall, the group continues to deliver relatively good growth, helped by its non-UK merchanting exposure as well as acquisitions and organic growth self-help initiatives," it said, adding that the balance sheet looks to be in solid shape.

Keller Group was also on the front foot as Berenberg upped its price target on the hold-rated stock to 1,150p from 925p following the company's "solid" set of first-half numbers.

"Organic growth was robust with North America outperforming the underlying market while APAC accelerated, driven by a strong performance in Australia," the bank said.

Outsourcer Capita advanced as it poached Patrick Butcher from transport operator Go-Ahead as its new chief financial officer.

FTSE 250 - Risers

Wood Group (John) (WG.) 759.60p 6.69%
Clarkson (CKN) 2,895.00p 5.27%
Grafton Group Units (GFTU) 810.00p 4.31%
Keller Group (KLR) 1,090.00p 3.81%
Mediclinic International (MDC) 491.40p 3.43%
TalkTalk Telecom Group (TALK) 125.50p 2.87%
Capita (CPI) 146.20p 2.31%
SIG (SHI) 129.70p 2.13%
Ultra Electronics Holdings (ULE) 1,633.00p 1.94%
Petrofac Ltd. (PFC) 629.60p 1.88%

FTSE 250 - Fallers

Rank Group (RNK) 167.00p -4.46%
Syncona Limited NPV (SYNC) 262.00p -3.86%
JD Sports Fashion (JD.) 477.20p -3.30%
Euromoney Institutional Investor (ERM) 1,345.00p -2.82%
Wizz Air Holdings (WIZZ) 3,232.00p -2.50%
Softcat (SCT) 838.00p -1.87%
Card Factory (CARD) 180.10p -1.69%
IntegraFin Holding (IHP) 368.00p -1.60%
FirstGroup (FGP) 91.95p -1.50%
Games Workshop Group (GAW) 3,415.00p -1.44%