FTSE 250 movers: Beazley rallies on results; TalkTalk tanks on profit warning

London's FTSE 250 was down 1.5% to 19,399.22 in afternoon trade on Thursday as investors digested an unexpectedly hawkish announcement from the Bank of England.

Insurer Beazley was the top performer as its full-year pre-tax profit came in slightly ahead of consensus and it lifted its premium income growth guidance from mid-to-high single digit to double digit.

Hiscox was also in the black after it appointed US chief executive officer Ben Walter to the newly-created role of CEO of Global Retail, with effect from 1 July. Meanwhile, Steve Langan, CEO of Hiscox UK & Europe, will relocate to New York to take up the role of CEO Hiscox USA, also effective 1 July.

On the downside, cyber security company Sophos tumbled as it reported a 19.6% drop in adjusted operating profit for the third quarter. A slowdown in billings also weighed on the stock, as they rose 14% in the period, down from 23% in the first half.

TalkTalk tanked after saying it’s looking to raise £200m in a placing to bolster its balance sheet and warning that full-year earnings before interest, tax, depreciation and amortisation would come in below the guidance given in November.

Tate & Lyle slid despite saying it remains on track to deliver full-year adjusted pre-tax profit in line with guidance at constant currency. Shore Capital pointed out that the stock has been caught up recently by the weakening dollar trend, as well ongoing speculation around the NAFTA negotiations.

"We see little in today’s update to break out of such constraints for the time being, and reiterate 'hold'."

Vedanta Resources fell in line with copper prices, while Hochschild Mining lost its shine as gold prices declined.

Roadside assistance and insurance group AA was weaker after saying that full-year trading EBITDA is expected to come in at £390m to £395m, in line with the guidance provided in September.

Risers

Beazley (BEZ) 564.00p 6.11%
Dignity (DTY) 793.00p 5.95%
Stobart Group Ltd. (STOB) 251.00p 4.15%
Vectura Group (VEC) 83.10p 2.97%
Lancashire Holdings Limited (LRE) 665.50p 2.46%
Hiscox Limited (DI) (HSX) 1,376.00p 2.46%
Ted Baker (TED) 3,070.00p 2.33%
Nex Group (NXG) 640.00p 2.07%
McCarthy & Stone (MCS) 150.50p 1.90%
Stagecoach Group (SGC) 138.40p 1.76%

Fallers

Sophos Group (SOPH) 504.70p -18.79%
TalkTalk Telecom Group (TALK) 107.40p -10.28%
Tate & Lyle (TATE) 610.00p -6.64%
Sanne Group (SNN) 621.00p -5.62%
Petrofac Ltd. (PFC) 433.50p -4.91%
Vedanta Resources (VED) 724.74p -4.64%
Provident Financial (PFG) 702.00p -4.10%
AA (AA.) 128.15p -3.90%
Hochschild Mining (HOC) 206.50p -3.86%
Drax Group (DRX) 230.40p -3.68%