Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 250 movers: FDM gains on update; Lower crude price hits producers

(Sharecast News) - FTSE 250 (MCX) 19,371.09 0.11%

Professional IT services provider FDM Group said it expected annual revenues to be flat, confirming the warning it issued in November about the hit from geopolitical uncertainties and clients deferring project decisions.

Revenue for calendar 2023 is expected to rise by 1% to £334m as client placements plunged by 21% and FDM was forced to axe a tenth of its internal workforce.

"The last nine months of 2023 saw difficult trading conditions across our markets, with many clients delaying and deferring decisions around projects and consultant placements given the macro-economic and geo-political uncertainties they faced," said chief executive Rod Flavell.

"Levels of client engagement remain encouraging and the early signs of returning client confidence which we reported in November continue."

Oil and gas producers were lower as crude oil prices fell after the US Energy Information Administration reported an inventory build of 1.2 million barrels for the week to January 26, compared with a substantial draw of 9.2 million barrels for the previous week.

The American Petroleum Institute estimated another inventory draw of 2.5 million barrels, for the week to January 26, far higher than estimates for 867,000 barrels.

Tullow Oil and harbour Energy were both down on the news, while services company Wood Group also fell.

Market Movers

FTSE 250 - Risers

NCC Group (NCC) 121.80p 3.05% Indivior (INDV) 1,395.00p 2.72% OSB Group (OSB) 456.20p 2.56% SThree (STEM) 407.50p 2.52% IG Group Holdings (IGG) 716.00p 2.29% Hiscox Limited (DI) (HSX) 1,038.00p 2.27% Sirius Real Estate Ltd. (SRE) 91.15p 2.19% Hill and Smith (HILS) 1,890.00p 2.16% Telecom Plus (TEP) 1,452.00p 2.11% Oxford Instruments (OXIG) 2,230.00p 1.83%

FTSE 250 - Fallers

Harbour Energy (HBR) 280.60p -4.82% Tullow Oil (TLW) 31.20p -4.06% Pets at Home Group (PETS) 282.60p -3.68% Wood Group (John) (WG.) 160.50p -3.55% Morgan Advanced Materials (MGAM) 272.50p -3.54% Renishaw (RSW) 3,538.00p -3.39% Allianz Technology Trust (ATT) 316.00p -2.77% Wizz Air Holdings (WIZZ) 1,951.50p -2.72% W.A.G Payment Solutions (WPS) 88.20p -2.65% Spirent Communications (SPT) 119.60p -2.37%

Share this article

Related Sharecast Articles

London close: Stocks push ahead as airlines lead gains
(Sharecast News) - UK stocks finished firmly in positive territory on Thursday despite a brief dip in afternoon trade, as falling oil prices and a return in risk appetite helped equity markets higher following the recent sell-off.
London close: Stocks push ahead as airlines lead gains
(Sharecast News) - UK stocks finished firmly in positive territory on Thursday despite a brief dip in afternoon trade, as falling oil prices and a return in risk appetite helped equity markets higher following the recent sell-off.
Director dealings: Blue Coast raises stake in Everyman Media
(Sharecast News) - Everyman Media revealed on Thursday that Blue Coast had acquired 50,000 ordinary shares in the AIM-listed cinema group.
Broker tips: Haleon, Warpaint, Deliveroo
(Sharecast News) - HSBC initiated coverage of Haleon on Thursday with a 'buy' rating and 370.0p price target as it took a look at consumer health stocks, saying the company stands out for its portfolio strength, the quality of its execution and better potential for exploiting new growth avenues.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.