FTSE 250 movers: Essentra rallies on update; Acacia loses shine
(ShareCast News) - London's FTSE 250 index was down 0.2% to 19,376.68 in afternoon trade.
Paper and plastics product supplier Essentra was the standout gainer after confirming trading for the financial year to date had been in line with the board's expectations.
The group's like-for-like revenue modestly declined as anticipated, but the trend in all three divisions in the first quarter improved compared with each of the previous two quarters, his statement read.
Transport operator Go-Ahead advanced after it reiterated its expectations for the full year as it said service levels on the Govia Thameslink Railway, which it runs, have stabilised following recent industrial action.
In a trading update for the period from 3 July 2016 to 1 April 2017, the company said passenger revenue in GTR fell 5%, but Southeastern revenue was up about 3%, while revenue in London Midland rose around 6%.
Asset manager Man Group rallied after reporting a 10% jump in funds under management for the first quarter, boosted in part by a recent acquisition. Funds under management rose to $88.7bn at the end of March 2017 from $80.9bn at the end of December last year.
Moneysupermarket was in the black despite revealing that it had a softer start to 2017 as a "buoyant" insurance market was offset by a lack of a collective energy switch in the first quarter. Group revenue for the quarter ended 31 March rose 2% to £85m, compared to last year.
Going the other way, Acacia Mining shares lost their shine as the company continued to be hit by the Tanzanian ban on gold and copper concentrate exports, although its mines in the country continued to operate normally in the first quarter of the year.
The miner produced 219,670 ounces of gold, up 15% than the same period last year as the North Mara mine delivered "strong production", there was a "significant step up" at Buzwagi but Bulyanhulu had a "slower start" to the year.
Retailer Debenhams slumped after new chief executive Sergio Bucher unveiled his strategic vision for growing the company, and following the release of in-line interim results.
Petrofac, Hochschild Mining, Aggreko, John Laing and Drax were all lower as their stock went ex-dividend.
FTSE 250 - Risers
Essentra (ESNT) 534.00p 6.16%
Go-Ahead Group (GOG) 1,801.00p 4.16%
Cobham (COB) 131.50p 4.03%
Man Group (EMG) 150.20p 4.02%
Paragon Group Of Companies (PAG) 450.40p 2.78%
Senior (SNR) 211.80p 2.12%
Homeserve (HSV) 657.50p 1.39%
Moneysupermarket.com Group (MONY) 337.10p 1.23%
HarbourVest Global Private Equity Limited A Shs (HVPE) 1,245.00p 1.22%
Caledonia Investments (CLDN) 2,790.00p 1.05%
FTSE 250 - Fallers
Acacia Mining (ACA) 422.90p -7.20%
Debenhams (DEB) 51.85p -6.24%
Petrofac Ltd. (PFC) 822.50p -5.62%
Hochschild Mining (HOC) 262.00p -4.59%
Dixons Carphone (DC.) 322.20p -3.24%
Vedanta Resources (VED) 693.00p -3.08%
Aggreko (AGK) 833.00p -2.80%
John Laing Group (JLG) 283.70p -2.58%
International Public Partnerships Ltd. (INPP) 154.40p -2.53%
Drax Group (DRX) 300.40p -2.50%