FTSE 250 movers: Dixons Carphone surges; Petrofac falls

London’s FTSE 250 was up 1% at 20,050.72 in afternoon trade on Wednesday.

Dixons Carphone surged after it said trading was strong in the runup to Christmas despite store closures as the electricals retailer reported surging online sales.

The company swung to a pre-tax profit of £45m for the six months to the end of October from a loss of £86m a year earlier as revenue rose 3% to £4.86bn. Adjusted pre-tax profit jumped to £89m from £2m.

Airtel Africa rallied, having tumbled a day earlier after an institutional investor sold 60 million shares in the telecommunications provider in a placing, at 80p each.

Petrofac was under pressure after it increased its target for cost cuts as the oil field services company said it expected 2020 profit "materially lower" in uncertain trading conditions.

The company said it intended to make $250m (£186m) of cost cuts in 2021 - up from an earlier target of at least $200m - to protect its business from lower revenues and margin pressure.

FTSE 250 - Risers

Dixons Carphone (DC.) 121.40p 11.79%
Shaftesbury (SHB) 568.50p 6.36%
Airtel Africa (AAF) 78.20p 6.25%
Capital & Counties Properties (CAPC) 151.50p 5.87%
PureTech Health (PRTC) 350.00p 5.74%
Mercantile Investment Trust (The) (MRC) 232.00p 5.22%
Henderson Smaller Companies Inv Trust (HSL) 1,014.00p 5.19%
CMC Markets (CMCX) 381.50p 4.52%
Aston Martin Lagonda Global Holdings (AML) 1,699.80p 4.40%
Apax Global Alpha Limited (APAX) 189.80p 4.29%

FTSE 250 - Fallers

Petrofac Ltd. (PFC) 162.70p -5.90%
Network International Holdings (NETW) 284.80p -3.85%
Capita (CPI) 41.83p -2.72%
Energean (ENOG) 668.25p -2.03%
Ferrexpo (FXPO) 277.60p -1.56%
Just Eat Takeaway.Com N.V. (CDI) (JET) 7,742.00p -1.50%
Micro Focus International (MCRO) 436.70p -1.11%
Electrocomponents (ECM) 863.50p -1.03%
National Express Group (NEX) 243.40p -0.98%
FirstGroup (FGP) 68.90p -0.93%