FTSE 250 movers: Afren leads energy stocks lower, AO World boosted by Q3 sales

Energy stocks were falling as Brent crude prices dropped below $48 on Monday. Hunting, Drax Group, Premier Oil, Ophir Energy, Soco International, Petrofac and Wood Group were all on the decline, while Afren plummeted 24% after reserve estimates were slashed at its part-owned Barda Rash project in Iraq.

Meanwhile, AO World was rising nearly 8% after revealing a jump in third-quarter sales. The company announced that website revenue for the three months to 31 December was up 38% compared to the previous year and total revenue increased 26%.

A US court has given Hikma Pharmaceuticals permission to distribute its colchicine gout treatment, turning down rival Takeda Pharmaceuticals in its appeal for an injunction against the distribution of the drugs. The stock jumped over 5%.

Pace was also advancing after it was revealed that the broadband services firm has appointed a new chief financial officer, Mark Shuttleworth. Current group chief executive Mike Pulli said: “I am delighted that Mark has now joined the board and executive team at Pace and look forward to working with him to help Pace achieve even greater success.”

FTSE 250 - Risers
AO World (AO.) 265.80p +7.57%
Hikma Pharmaceuticals (HIK) 2,403.00p +5.26%
Pace (PIC) 346.70p +4.33%
Laird (LRD) 311.00p +3.12%
Dairy Crest Group (DCG) 467.10p +3.02%
Betfair Group (BET) 1,515.00p +2.52%
Domino's Pizza Group (DOM) 701.50p +2.41%
Go-Ahead Group (GOG) 2,506.00p +2.37%
Enterprise Inns (ETI) 110.50p +2.31%
Synthomer (SYNT) 235.00p +2.13%

FTSE 250 - Fallers
Afren (AFR) 30.00p -23.68%
Hunting (HTG) 439.70p -8.32%
Drax Group (DRX) 355.10p -6.18%
Wood Group (John) (WG.) 536.00p -5.47%
Premier Oil (PMO) 137.40p -5.31%
Ophir Energy (OPHR) 133.60p -4.57%
Petrofac Ltd. (PFC) 608.00p -4.33%
Soco International (SIA) 257.70p -4.13%
Lonmin (LMI) 169.10p -3.87%
Crest Nicholson Holdings (CRST) 356.20p -3.44%