FTSE 250 movers: 888 rises on results; OSB under pressure

London’s FTSE 250 was up 0.1% at 21,575.78 in afternoon trade on Thursday.

888 Holdings rallied as the online gambling company lifted its dividend despite a sharp fall in annual pre-tax profits on the back of higher costs.

Housebuilder Crest Nicholson was knocked lower by a downgrade to ‘sell’ from ‘neutral’ at UBS. The bank said Crest looks expensive, in particular relative to other mid-caps, and "seems to more than price in a margin recovery towards the peer average despite execution risk".

OSB shares fell after the bank revealed it might have to write off as much as £28.6m because of possible customer fraud. In a statement after the market closed on Wednesday OSB said it had become aware of possible fraudulent activity by a customer it funds secured against property lease receivables and underlying assets.

National Express lost ground after saying it swung to an operating loss in 2020 as it took a hit from the Covid-19 pandemic. In the year to 31 December 2020, the bus and coach operator swung to a statutory operating loss of £381.4m from a profit of £242.3m a year earlier, with group revenue down 28.7% to £1.96bn.

FTSE 250 - Risers

Petrofac Ltd. (PFC) 101.60p 8.43%
Ferrexpo (FXPO) 383.40p 6.44%
Airtel Africa (AAF) 88.50p 5.36%
CMC Markets (CMCX) 453.00p 5.35%
888 Holdings (888) 351.00p 5.25%
Cineworld Group (CINE) 120.95p 4.67%
IG Group Holdings (IGG) 880.50p 3.53%
Playtech (PTEC) 434.60p 3.45%
Spectris (SXS) 3,237.00p 3.19%
Hilton Food Group (HFG) 1,066.00p 2.90%

FTSE 250 - Fallers

Crest Nicholson Holdings (CRST) 365.00p -4.65%
OSB Group (OSB) 440.80p -4.55%
Greggs (GRG) 2,068.00p -4.44%
Wetherspoon (J.D.) (JDW) 1,332.00p -4.03%
National Express Group (NEX) 302.40p -3.63%
Trainline (TRN) 456.20p -3.47%
4Imprint Group (FOUR) 2,320.00p -3.33%
Rank Group (RNK) 180.60p -3.11%
FDM Group (Holdings) (FDM) 1,006.00p -2.90%
Baillie Gifford US Growth Trust (USA) 315.00p -2.78%