FTSE 250 movers: Petrofac plunges, Moneysupermarket marches forth
London's FTSE 250 index was down 0.26% at 19,806.40 in afternoon trade on Thursday, with Petrofac dragging the index downwards.
The oil and gas field services provider was the top faller after one of its former executives pleaded guilty to taking bribes in Iraq and Saudi Arabia, leading the Iraqi oil ministry to end negotiations over the Ratawi gas hub with the company.
Power station operator Drax was also lower amid shareholder discontent, with 19% voting against the remuneration report that outlined chief executive Will Gardiner’s £1.9m pay packet and 42% voting against granting the board authority to change rules governing donations to political organisations in the European Union.
Meanwhile, housebuilder Galliford Try continued to edge lower after Liberum analysts slashed the stock's price target.
At the other end of the scales, Moneysupermarket racked up strong gains as it posted a 19% jump in first-quarter revenue thanks to a solid performance from its home services business, which saw revenues surge 70%.
Russ Mould, investment director at AJ Bell, said: "Comparison site Moneysupermarket’s stellar first quarter numbers are all the more impressive when you consider demand for its services are often seen as being linked to the fortunes of the UK economy. But while the latter might be struggling, mired in political and economic uncertainty, Moneysupermarket is forging ahead investing in new technology and expanding into new areas."
Cybersecurity firm Avast was higher as it said first-quarter revenue rose 6.1% and reaffirmed its full-year outlook, while Funding Circle gained as it posted a record level of loans under management during the first quarter.
Real estate investment trust Intu Properties climbed after it formed a joint-venture with Cale Street Investments for the development of its Derby shopping centre, while PZ Cussons was on the up after it issued a more reassuring update following its profit warnings in December and January.
FTSE 250 (MCX) 19,806.40 -0.26%
FTSE 250 - Risers
Moneysupermarket.com Group (MONY) 368.50p 5.77%
Avast (AVST) 299.00p 5.21%
Mediclinic International (MDC) 343.80p 4.98%
Kier Group (KIE) 366.20p 3.92%
Funding Circle Holdings (FCH) 322.00p 3.70%
Restaurant Group (RTN) 133.00p 3.34%
Intu Properties (INTU) 101.15p 3.21%
PZ Cussons (PZC) 198.64p 3.03%
Plus500 Ltd (DI) (PLUS) 519.80p 2.81%
Aston Martin Lagonda Global Holdings (AML) 961.45p 2.81%
FTSE 250 - Fallers
Petrofac Ltd. (PFC) 491.80p -6.11%
Sirius Minerals (SXX) 20.28p -5.32%
Drax Group (DRX) 349.00p -5.06%
Metro Bank (MTRO) 805.00p -4.96%
Hastings Group Holdings (HSTG) 220.40p -4.84%
Bodycote (BOY) 849.50p -3.79%
Vesuvius (VSVS) 614.00p -3.38%
NewRiver REIT (NRR) 227.67p -3.12%
Galliford Try (GFRD) 539.03p -2.61%
Polypipe Group (PLP) 415.20p -2.49%