FTSE 250 movers: Vivo Energy surges, Kier falls down
London's FTSE 250 was up 0.88% at 17,648.252 in afternoon trade on Wednesday, as Vivo Energy advanced on the back of a strong performance from one of its parent companies.
Vivo Energy, which is the company behind the Shell brand in Africa, was the standout gainer on the index as Royal Dutch Shell's shares advanced having dropped on Tuesday amid reports that the oil giant is mulling a $8bn bid for Texas oil producer Endeavor Energy.
Meanwhile, online gambling firm 888 Holdings surged after saying it expects full-year adjusted EBITDA to be in line with expectations as the second half delivered further progress against the group's strategic objectives. 888 said it had continued its momentum in sport, casino and across regulated European markets.
Elementis inched up after Berenberg reiterated its 'buy' rating with a target price of 225p, stating that the speciality chemicals company's fortunes should improve after the company's shares undeperformed since the "much maligned" takeover of Mondo Minerals in late June.
"2019 should be a good year for Elementis: the first benefits of the Mondo acquisition will become apparent; personal care should return to top-line growth; and the company is poised to benefit from pricing momentum in chromium," said a note from the broker's analysts.
James Fisher and Sons crept upward after its subsidiary JFD won a £30m contract with Daewoo Shipbuilding & Marine Engineering to design, build and deliver a deep search and rescue vehicle for the Korean navy, together with training and in-service support.
UK construction, services and property group Kier Group was the top faller even as other housebuilders put in a strong performance.
Weir Group was also under the cosh after a its price target was cut from 1,900p to 1,800p at Credit Suisse, though it was resumed at 'neutral' by Goldman Sachs who argued that the headwinds currently weighing on the stock should ease in 2019.
Market Movers
FTSE 250 (MCX) 17,648.22 0.88%
FTSE 250 - Risers
Vivo Energy (VVO) 134.82p 10.24%
888 Holdings (888) 186.40p 9.65%
Rank Group (RNK) 153.00p 8.20%
CLS Holdings (CLI) 223.50p 5.67%
Just Group (JUST) 95.10p 5.20%
FDM Group (Holdings) (FDM) 794.00p 5.17%
Softcat (SCT) 593.00p 4.96%
Capita (CPI) 109.05p 4.65%
Elementis (ELM) 177.80p 4.47%
Fisher (James) & Sons (FSJ) 1,772.00p 4.24%
FTSE 250 - Fallers
Kier Group (KIE) 387.88p -6.40%
AA (AA.) 77.08p -5.47%
TBC Bank Group (TBCG) 1,354.00p -3.70%
Weir Group (WEIR) 1,286.50p -3.56%
G4S (GFS) 189.20p -2.62%
Avast (AVST) 260.00p -2.38%
Premier Oil (PMO) 60.10p -2.04%
Thomas Cook Group (TCG) 28.70p -1.85%
Hikma Pharmaceuticals (HIK) 1,861.50p -1.59%
Hunting (HTG) 485.00p -1.30%