FTSE 250 movers: Hikma tanks after trimming guidance

The FTSE 250 was down 0.35% in afternoon trade on Thursday, with Hikma Pharmaceuticals the main drag on the mid-cap index as falling oil prices and dovish Fed minutes kept stock markets lower.

While Hikma reported a 1% rise in sales and profits, the company’s full-year guidance was trimmed amid challenging market conditions for its generic drug operations. It was down 8% late in the day.

Casino operator Rank was the next worst performer in the market following the report of its second-half results, after investors were unimpressed after falling sales at its Grosvenor operations and Mecca bingo halls.

Oil stocks also suffered, specifically Tullow Oil and Petrofac, after prices of the commodity were down in Thursday trading.

Precious metals miner Hochschild led the index with a gain of over 5% after rising gold prices led it and others upwards.

Marshalls, the maker of paving slabs, street furniture and floor tiles, posted a solid set of interim results, reporting increased revenue thanks to a 17% year-on-year increase in domestic sales.

QinetiQ Group was boosted by an upgrade from Barclays, with the UK bank lifting its recommendation to ‘overweight’ following a 20% fall in the shares in recent months.

Market Movers

FTSE 100 (UKX) 7,397.43 -0.48%
FTSE 250 (MCX) 19,789.94 -0.35%

FTSE 250 - Risers

Hochschild Mining (HOC) 273.90p 5.59%
Nostrum Oil & Gas (NOG) 417.20p 4.88%
FDM Group (Holdings) (FDM) 939.00p 4.28%
Marshalls (MSLH) 417.40p 4.22%
Sirius Minerals (SXX) 28.21p 2.96%
Polymetal International (POLY) 935.00p 2.41%
Petra Diamonds Ltd.(DI) (PDL) 92.25p 2.22%
Renishaw (RSW) 4,513.00p 2.03%
Softcat (SCT) 408.80p 1.95%
Supergroup (SGP) 1,602.00p 1.59%

FTSE 250 - Fallers

Hikma Pharmaceuticals (HIK) 1,212.00p -8.80%
Rank Group (RNK) 226.80p -5.34%
Tullow Oil (TLW) 155.20p -4.26%
Evraz (EVR) 258.30p -3.87%
Aldermore Group (ALD) 226.30p -3.41%
BGEO Group (BGEO) 3,400.00p -2.97%
Virgin Money Holdings (UK) (VM.) 278.50p -2.69%
Hunting (HTG) 423.40p -2.67%
Petrofac Ltd. (PFC) 418.00p -2.65%
NMC Health (NMC) 2,327.00p -2.55%