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FTSE 250 movers: Babcock surges; Ascential on the slide
(Sharecast News) - London's FTSE 250 was flat at 19,313.12 in afternoon trade on Thursday. Babcock surged to the top of the index as it reported a jump in annual revenues and said it had made "excellent" progress, despite seeing profits slide.
Hikma Pharmaceuticals jumped, with traders pointing to news that a major Pfizer injectables plant in North Carolina was hit by a tornado and heavily damaged on Wednesday. Traders said that according to Bloomberg TV, the production that will be lost from the Pfizer plant can likely be replaced by Hikma, which produces the same injectables.
Volution gained as it said that full-year adjusted earnings per share are set to be at the top end of current market forecasts, hailing "continued good progress". Current market forecasts are for EPS of 23.7p to 25.6p.
IG Group and Howden also rose after results.
On the downside, Ascential slumped following a report that three major bidders for its consumer data arm have walked away from the auction.
The company said earlier this year that it was planning to sell the business, known as WGSN, as part of a break-up plan announced in January. It began talking to potential bidders in April.
However, Reuters cited people familiar with the situation as saying that in recent weeks, three bidders walked away from the auction without making a formal offer, although there is still at least one potential buyer.
Pennon, Ninety One and Bytes Technology all fell as they traded without entitlement to the dividend.
FTSE 250 - Risers
Babcock International Group (BAB) 343.40p 8.81% Hikma Pharmaceuticals (HIK) 2,067.00p 5.92% Volution Group (FAN) 402.00p 5.18% IG Group Holdings (IGG) 725.50p 4.77% Bakkavor Group (BAKK) 105.50p 3.94% Jupiter Fund Management (JUP) 110.70p 3.65% IntegraFin Holding (IHP) 275.00p 3.62% Howden Joinery Group (HWDN) 734.60p 3.35% Bridgepoint Group (Reg S) (BPT) 211.60p 3.22% Crest Nicholson Holdings (CRST) 222.20p 3.06%
FTSE 250 - Fallers
Ascential (ASCL) 215.80p -6.42% Future (FUTR) 816.50p -5.88% Pennon Group (PNN) 713.00p -4.30% Ninety One (N91) 171.60p -3.43% easyJet (EZJ) 480.20p -2.97% Telecom Plus (TEP) 1,712.00p -2.95% Bytes Technology Group (BYIT) 524.00p -2.51% Molten Ventures (GROW) 271.80p -2.37% Aston Martin Lagonda Global Holdings (AML) 352.40p -2.22% Synthomer (SYNT) 78.60p -2.18%
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