FTSE 250 movers: TalkTalk trots higher on upgrade; Playtech jumps on results

London's FTSE 250 was up 0.2% to 20,674.47 in afternoon trade on Thursday, with markets in full summer mode, save for the latest Brexit developments - the government just published its no-deal Brexit advice - and Trump-related hoo-ha.

TalkTalk was the star performer as Barclays upped the stock to 'overweight' from 'equalweight', saying operating trends look set to improve.

"We see challengers set to fight back, with tailwinds from alternative fibre providers and incumbents set to take a more rational approach to retail/wholesale pricing," the bank said.

It said that while TalkTalk has suffered market share losses in the past few years, negative earnings momentum, and rising leverage, 12 months on from its strategy 'reset', Barclays sees a return to top-line growth with its and consensus earnings estimates appearing to have bottomed.

John Laing Group was also higher after the infrastructure investor said first-half profit and net asset value increased, while Playtech rallied as it posted a drop in interim earnings but a rise in revenue as the gaming and casino software maker said Asian markets were increasingly competitive.

Premier Oil gushed higher as it revealed that half-year net profit rose to $98.4m from $40.7m in the same period a year ago, while earnings before interest, taxes, depreciation and amortisation were up 19% to $388.9m.

On the downside, OneSavings Bank lost ground even as it upped its loan growth forecast and posted a jump in first-half profit, as it warned that competition is weighing on profit margins.

Quilter, HICL Infrastructure and Hikma Pharmaceuticals all retreated as their stock went ex-dividend.

FTSE 250 - Risers

TalkTalk Telecom Group (TALK) 134.50p 8.82%
John Laing Group (JLG) 314.40p 7.23%
Playtech (PTEC) 545.40p 5.45%
Contour Global (GLO) 234.00p 4.19%
Dunelm Group (DNLM) 515.50p 3.64%
Stobart Group Ltd. (STOB) 241.50p 3.21%
Petrofac Ltd. (PFC) 656.00p 2.95%
Sophos Group (SOPH) 509.00p 2.46%
Premier Oil (PMO) 124.40p 2.39%
Energean Oil & Gas (ENOG) 529.00p 2.32%

FTSE 250 - Fallers

Quilter (QLT) 139.14p -9.06%
SIG (SHI) 125.10p -4.58%
Ferrexpo (FXPO) 150.95p -3.61%
OneSavings Bank (OSB) 427.80p -3.47%
Kaz Minerals (KAZ) 458.30p -3.31%
Marshalls (MSLH) 464.00p -2.52%
Travis Perkins (TPK) 1,133.50p -2.07%
Grafton Group Units (GFTU) 779.50p -1.89%
HICL Infrastructure Company Ltd (HICL) 158.60p -1.86%
Hikma Pharmaceuticals (HIK) 1,877.50p -1.83%