FTSE 250 movers: Wizz flies higher; energy shares decline

London’s FTSE 250 was down 2.3% at 15,453.89 in afternoon trade on Tuesday.

Cineworld was in the red among ongoing concerns about the impact of the coronavirus lockdown.

Premier Oil, Energean and Wood Group were all weaker as oil prices collapsed.

Pub group Marston’s fell as Jefferies kept its rating on the stock at ‘underperform’ and cut the price target to 35p from 90p. It said high leverage, zero dividends and limited growth capex is "unappealing to equity owners".

Capita was trading lower as it took further measures to cut the pay of its senior team during the Covid-19 emergency by withdrawing and reducing potential bonuses for 2020.

The company said it had withdrawn the annual incentive plan from chief executive Jon Lewis, chief financial officer Patrick Butcher, the executive committee and other senior managers. It has also made big reductions in Lewis and Butcher's long-term incentive plan awards.

Petropavlovsk advanced as it said that despite lockdown measures, all the equipment necessary to complete construction of its second flotation plant have now arrived in Russia, leaving the project remains on track for fourth quarter commissioning.

Budget airline Wizz Air flew higher after saying it was eligible for support under the UK Government's Covid Corporate Financing Facility. The facility provides funding to businesses by buying commercial paper of up to one-year maturity, issued by firms deemed to be making a material contribution to the UK economy.

FTSE 250 - Risers

Airtel Africa (AAF) 40.25p 8.34%
Babcock International Group (BAB) 412.40p 4.33%
Cranswick (CWK) 3,794.00p 3.66%
Apax Global Alpha Limited (APAX) 124.60p 3.66%
Redrow (RDW) 398.00p 3.54%
Petropavlovsk (POG) 24.90p 3.11%
Hyve Group (HYVE) 23.55p 2.61%
Bellway (BWY) 2,376.00p 2.55%
Wizz Air Holdings (WIZZ) 2,774.00p 2.44%
Greencore Group (GNC) 173.80p 2.42%

FTSE 250 - Fallers

Premier Oil (PMO) 21.60p -10.85%
Cineworld Group (CINE) 54.44p -9.27%
Energean Oil & Gas (ENOG) 659.00p -8.09%
Virgin Money UK (VMUK) 67.18p -7.97%
Shaftesbury (SHB) 611.00p -7.42%
Wood Group (John) (WG.) 161.45p -7.32%
IWG (IWG) 190.40p -6.85%
Marston's (MARS) 36.18p -6.56%
Senior (SNR) 58.90p -6.36%
Capita (CPI) 33.10p -6.26%