FTSE 250 movers: Premier Oil falls, Card Factory climbs
London's FTSE 250 was down 0.91% at 19,738.56 in afternoon trade on Wednesday, with Premier Oil leading the index lower.
The oil and gas exploration and production company dropped as oil prices moved sharply lower, following news that Saudi Arabia was ahead of schedule in restoring its output capacity after an attack on its largest production facility on 14 September.
IP Group was also in the red, amid news that star investor Neil Woodford sold his entire 13.4% stake in the company for around £76m, with the shares sold at a discounted rate of around 53.5p each.
Aston Martin Lagonda was under pressure after the luxury car maker confirmed the successful raising of $150m from a bond issue, with an option for a further $100m, as analysts expressed caution on high borrowing costs.
The bonds carried interest rates of 12% and 15% respectively, and chief financial officer Mark Wilson said the financing deal would provide flexibility in the face of "macroeconomic headwinds and uncertainty".
Up at the green end of the index, Card Factory topped the risers a day after it announced special dividend of 5p per share alongside its unchanged interim dividend of 2.9p, though first half profits fell by 14% due to Brexit stockpiling and higher wages.
Analysts at Liberum said the main positive from the results was the announcement of retail partnerships with Aldi and The Reject Shop, but added that more detail on sales performance was required as the retailer had provided "little guidance".
Finally, Babcock rallied as the aerospace and defence group said trading was in line in the first half and that it continued to win work across all sectors, as it backed its full-year guidance.
FTSE 250 (MCX) 19,738.56 -0.91%
FTSE 250 - Risers
Card Factory (CARD) 183.70p 9.02%
Babcock International Group (BAB) 566.20p 4.62%
Investec (INVP) 416.70p 1.49%
Brewin Dolphin Holdings (BRW) 313.40p 1.42%
Clarkson (CKN) 2,370.00p 1.28%
Grafton Group Units (GFTU) 763.50p 1.13%
4Imprint Group (FOUR) 2,940.00p 1.03%
Plus500 Ltd (DI) (PLUS) 771.20p 0.92%
Great Portland Estates (GPOR) 727.20p 0.92%
Vietnam Enterprise Investments (DI) (VEIL) 503.39p 0.88%
FTSE 250 - Fallers
Premier Oil (PMO) 78.62p -6.09%
Airtel Africa (AAF) 50.35p -5.89%
IP Group (IPO) 57.90p -5.70%
Future (FUTR) 1,238.00p -4.77%
Aston Martin Lagonda Global Holdings (AML) 548.13p -4.64%
Syncona Limited NPV (SYNC) 224.19p -4.60%
Provident Financial (PFG) 399.58p -3.83%
Coats Group (COA) 74.56p -3.79%
Ferrexpo (FXPO) 163.27p -3.79%
PureTech Health (PRTC) 232.50p -3.53%