FTSE 250 movers: IP rallies; Close Brothers slumps on update
London’s FTSE 250 was up 0.1% to 21,773.47 in afternoon trade on Wednesday.
IP Group was the standout gainer as it said it had made £22.4m through the partial sale of its holding in Ceres Power.
Airtel Africa was in the green after it signed a strategic partnership with Western Union that will allow Airtel Money customers to reliably send and receive international money transfers directly from their phones, using the Airtel Africa mobile money wallet.
PPHE Hotels was on the front foot after the hotel and resort developer announced the promotions of Greg Hegarty to deputy chief executive officer and chief operating officer, and Inbar Zilberman to chief corporate and legal officer.
Pets at Home was up after it reaffirmed its full-year guidance and posted a jump in third-quarter sales thanks to solid performances from both its retail segment and vet group. In the 12 weeks to 2 January, group revenue rose 7.9% to £255.9m, with retail revenue up 7.2% and vet group revenue 14.4% higher.
On the downside, Tullow Oil, Hunting, Cairn and Petrofac were all weaker as oil prices fell. West Texas Intermediate was down 2.2% while Brent crude was 2.1% lower.
Close Brothers retreated after it said in a pre-close trading update that the loan book remained broadly flat in a "difficult UK economic environment".
Victrex was knocked lower by a rating downgrade at UBS, while WH Smith was down despite posting a 7% jump in revenue for the 20 weeks to 18 January.
FTSE 250 - Risers
IP Group (IPO) 70.10p 4.01%
Airtel Africa (AAF) 73.10p 3.25%
Provident Financial (PFG) 476.90p 3.16%
PPHE Hotel Group Ltd (PPH) 2,040.00p 3.03%
Mitchells & Butlers (MAB) 414.00p 2.99%
IntegraFin Holding (IHP) 476.00p 2.92%
Pets at Home Group (PETS) 294.80p 2.79%
Dechra Pharmaceuticals (DPH) 2,990.00p 2.75%
Beazley (BEZ) 549.50p 2.71%
Diploma (DPLM) 1,976.00p 2.70%
FTSE 250 - Fallers
Tullow Oil (TLW) 49.66p -6.27%
Hunting (HTG) 332.20p -4.76%
Close Brothers Group (CBG) 1,493.00p -4.72%
Kaz Minerals (KAZ) 519.00p -3.42%
Cairn Energy (CNE) 186.90p -2.61%
Petrofac Ltd. (PFC) 365.50p -2.48%
Quilter (QLT) 161.50p -2.42%
Playtech (PTEC) 368.60p -2.10%
Victrex plc (VCT) 2,416.00p -2.03%
WH Smith (SMWH) 2,496.00p -1.73%