FTSE 250 movers: Property stocks, oilers pace declines

Property development stocks and oilers led the second-tier index lower on Wednesday, partially offset by gains for insurers.

Hammerson was the main drag on the index after announcing that the Orion European Real Estate Fund V had rescinded the purchase of a portfolio of seven retail parks.

Cairn Energy and Petrofac were also lower, as crude oil futures pulled back following a blistering two-week rally.

Going the other way, shares of Hiscox jumped after the niche insurer announced an equity placing to take advantage of market conditions, as it warned it could take a hit of between £10m and £250m from business interruption insurance.

Another insurer, Direct Line, was right behind after it said it expected to take a gross hit of £44m, or £25m net, in travel claims from the impact of the coronavirus pandemic, offset by a 70% fall in motor claims as people made fewer car journeys.

Market Movers

FTSE 250 (MCX) 15,982.47 -0.69%

FTSE 250 - Risers

Hiscox Limited (DI) (HSX) 758.80p 9.59%
Renishaw (RSW) 3,572.00p 5.74%
Kainos Group (KNOS) 733.00p 5.16%
Direct Line Insurance Group (DLG) 284.00p 4.45%
Virgin Money UK (VMUK) 74.42p 4.38%
Hyve Group (HYVE) 21.45p 3.87%
Hastings Group Holdings (HSTG) 184.30p 3.49%
Ashmore Group (ASHM) 372.60p 3.39%
Dunelm Group (DNLM) 905.50p 3.25%
Synthomer (SYNT) 278.80p 3.18%

FTSE 250 - Fallers

Hammerson (HMSO) 51.22p -14.29%
SSP Group (SSPG) 217.40p -11.27%
WH Smith (SMWH) 985.50p -9.84%
Grafton Group Units (GFTU) 581.50p -6.74%
Cairn Energy (CNE) 111.20p -6.40%
Computacenter (CCC) 1,413.00p -6.36%
Pets at Home Group (PETS) 238.60p -5.69%
PureTech Health (PRTC) 241.50p -5.48%
Cineworld Group (CINE) 52.80p -5.41%
Petrofac Ltd. (PFC) 174.00p -5.41%