FTSE 250 movers: Petrofac, Acacia Mining, Virgin Money

A second day of large gains saw West Texas Intermediate crude oil futures clock in with their biggest two-day advance since August 2015. According to Blacrock's chief, institutionals began wading into financial markets as far back as last Wednesday. Dovish remarks from the ECB's Mario Draghi further supported risk sentiment the next day and came alongside speculation from different corners that both the BoJ and the US Fed might soften their current policy biases. Overnight, the chairman of Saudi Aramco described the recent fall in oil quotes as "irrational". All of the above put a bid into the shares of oil field services firms such as Petrofac and lent a hand to the smaller oil explorers such as Ophir Energy or Tullow Oil. Amec Foster Wheeler was another notable beneficiary of the bounce in oil.

Acacia Mining saw slight profit-taking as improved market sentiment took some of the lustre out of the price of gold. Shares of the Tanzania-focused gold miner had also risen sharply in the previous session after announcing that gold output had increased by 2% in 2015. The outfit also announced plans to raise guidance for this year following the ramp-up of the flagship Bulyanhulu mine.

Shares in Virgin Money bounced back violently following the extremely poor start to the year. Some analysts believe the prospect of interest rates staying lower for longer this year is "singularly unhelpful" for the lender and will lead to a slightly softer pace of improvement in its net interest margins.

FTSE 250 - Risers
Tullow Oil (TLW) 149.30p +15.56%
Virgin Money Holdings (UK) (VM.) 309.70p +9.43%
Renishaw (RSW) 1,746.00p +9.12%
Ophir Energy (OPHR) 84.90p +7.40%
Petrofac Ltd. (PFC) 747.00p +7.02%
Amec Foster Wheeler (AMFW) 401.30p +6.81%
Telecom Plus (TEP) 945.00p +6.48%
Circassia Pharmaceuticals (CIR) 300.00p +6.38%
Mitchells & Butlers (MAB) 287.50p +6.25%
Spectris (SXS) 1,622.00p +6.08%

FTSE 250 - Fallers
Moneysupermarket.com Group (MONY) 319.50p -2.32%
Dignity (DTY) 2,227.00p -1.76%
Ocado Group (OCDO) 277.00p -1.74%
Jimmy Choo (CHOO) 123.50p -1.67%
Go-Ahead Group (GOG) 2,441.00p -1.41%
Ted Baker (TED) 2,611.00p -1.14%
Poundland Group (PLND) 149.00p -1.00%
Lancashire Holdings Limited (LRE) 600.50p -0.83%
Nostrum Oil & Gas (NOG) 291.70p -0.78%
Acacia Mining (ACA) 174.30p -0.74%