FTSE 250 movers: Oilers slide, Ted Baker bounces back
London's FTSE 250 was 1.35% lower at 19,086.56 in afternoon trading on Friday, as oil and gas industry names led the index lower.
Oil and gas industry services providers Hunting, Weir Group and Wood Group dropped alongside Premier Oil, as oil prices hit a four-month high but then retreated to a month's low.
Restaurant Group was lower after moves to close 27 of its Giraffe and Ed's Easy Diner restaurants were approved, shutting down almost a third of the company's restaurants and likely to see hundreds of jobs cut.
Guarantor loans provider Amigo Holdings crept lower as reports suggest it faces growing scrutiny from the Financial Conduct Authority after the regulatory body warned earlier in the month that it was increasing its focus on the area.
IP Group was lower ahead of the release of its full-year results on Monday, while at the other end of the scales, fashion retailer Ted Baker recovered after dropping on the back of results in the previous session.
Aggreko racked up strong gains as Stifel upgraded the stock to 'buy' and upped the price target to 880p from 840p, while Berenberg increased its price target to 1,170p from 1,100p.
Noting that last year's results showed "positive signs of progress" and the first underlying profit growth in five years, the analysts said. "Our changed view is the building confidence that management’s actions and strategy to improve capital efficiency and address operational shortcomings is starting to deliver value to shareholders not yet captured by the share price."
Finally, alternative asset and corporate services provider Sanne saw its shares rise as it posted an 11.8% jump in full-year underlying pre-tax profit thanks to strong performances from its core businesses, particularly in EMEA and the US.
FTSE 250 (MCX) 19,086.56 -1.35%
FTSE 250 - Risers
Ted Baker (TED) 1,660.00p 3.69%
Aggreko (AGK) 797.00p 2.81%
Intu Properties (INTU) 106.95p 2.30%
Just Group (JUST) 70.25p 2.26%
Telecom Plus (TEP) 1,499.80p 2.17%
Sanne Group (SNN) 514.00p 1.98%
Dunelm Group (DNLM) 883.50p 1.44%
TI Fluid Systems (TIFS) 187.90p 1.40%
Rank Group (RNK) 163.80p 1.36%
Greene King (GNK) 676.80p 1.32%
FTSE 250 - Fallers
Hunting (HTG) 592.50p -5.05%
Premier Oil (PMO) 89.85p -4.82%
Restaurant Group (RTN) 117.70p -4.62%
Morgan Advanced Materials (MGAM) 258.80p -4.36%
Contour Global (GLO) 172.60p -4.27%
Investec (INVP) 439.30p -4.17%
IP Group (IPO) 92.20p -4.16%
Amigo Holdings (AMGO) 171.54p -4.00%
Weir Group (WEIR) 1,596.50p -3.97%
Wood Group (John) (WG.) 549.00p -3.92%