FTSE 250 movers: Oilers rise but Ferrexpo drops on Ukraine turmoil
London's FTSE 250 was up 0.70% at 18,662.25 in afternoon trade on Monday, as oilers and banks advanced.
Energy-related shares pushed up as oil prices recovered after Friday's plunge and ahead of next week's OPEC meeting, with Premier Oil, Petrofac and Tullow Oil all higher.
The recovery comes after Brent Crude futures sank by 6% on Friday and West Texas Intermediate crude futures slumped almost 8%.
Banks were also on the rise, making back their Brexit-related losses after Theresa May's deal won EU backing at the weekend, with CYBG and Metro Bank both making gains.
Package holiday operator Thomas Cook climbed ahead of release of its full-year results on Thursday, which are expected to lay bare the impact of a difficult summer of trading thanks to the unseasonably warm weather enjoyed in the UK.
Spirent Communications crept upward after Liberum reiterated its 'buy' rating and target price of 146p, stating that trends in the industry point to strong 5G-related momentum as well as the starting of the 400G cycle.
"Competitor, Keysight's results and commentary also suggest strength in the testing segment. We expect Spirent to benefit from the cyclical upside in 400G and 5G, and the structural upside from increasing demand for Visionworks. Valuations remain attractive with a healthy balance sheet and dividend yield," it said.
Swiss-based commodity trading and mining company Ferrexpo was the top faller after the Ukrainian government declared martial law following an incident with the Russian navy in the Black Sea.
The miner, which primarily produces iron pellets, operates a number of mines in Ukraine and often comes under pressure when Russia or Ukraine are in the diplomatic spotlight.
Gambling software development company Playtech, which has large offices in Ukraine and fellow Russian neighbour Estonia, also dropped amid the Black Sea stand-off.
Finally, Softcat fell ahead of a trading update on Wednesday and BCA Marketplace was down ahead of its interim results on Thursday.
Market Movers
FTSE 250 (MCX) 18,662.25 0.70%
FTSE 250 - Risers
Premier Oil (PMO) 71.70p 10.56%
CYBG (CYBG) 208.40p 8.15%
Rank Group (RNK) 162.31p 6.64%
Spire Healthcare Group (SPI) 122.80p 5.68%
Thomas Cook Group (TCG) 48.56p 5.57%
Mediclinic International (MDC) 359.90p 5.51%
Metro Bank (MTRO) 2,186.00p 4.49%
Petrofac Ltd. (PFC) 505.40p 4.46%
Tullow Oil (TLW) 180.00p 4.41%
Spirent Communications (SPT) 128.95p 4.33%
FTSE 250 - Fallers
Ferrexpo (FXPO) 185.10p -3.19%
Playtech (PTEC) 448.90p -2.67%
Countryside Properties (CSP) 297.40p -2.49%
BCA Marketplace (BCA) 220.00p -2.22%
Energean Oil & Gas (ENOG) 586.00p -2.17%
NewRiver REIT (NRR) 226.32p -2.02%
Softcat (SCT) 592.00p -1.99%
IP Group (IPO) 109.80p -1.96%
Rotork (ROR) 253.40p -1.90%
888 Holdings (888) 172.90p -1.76%