FTSE 250 movers: Betfair hit by downgrade, oil and energy stocks higher

Mid-caps were under pressure on Friday, following news that OPEC would not curb oil production and that Greece had opted to defer payment on €300m owed to the International Monetary Fund until Friday.

Sector-wise gains made by oil, energy and mining stock were eradicated by weakness in telecommunications, real estate and retail stocks.

As of 16:30 BST, the FTSE 250 was trading 0.85% lower to 17,937 points.

Oil and energy stocks including Premier Farnell, Riverstone Energy, Infinis Energy and Hunting surged despite OPEC deciding not to cut oil production at its meeting on Friday. Oil futures were also higher across the board.

Betfair Group dipped as analysts at Numis Securities downgraded their rating on the stock to "sell", although the broker also increased its price target from 1,620p to 2,100p.

Halfords was boosted as it posted record annual sales topping £1bn, driven by higher demand for bikes. The group hit its revenue target 12 months early following a three year turnaround programme to upgrade its stores and expand its product ranges.

Poundland was making gains as The Capital Group Companies lifted its stake in the discount retailer to 4.77% from less than 4%.

Allied Minds rose as Kevin Sharer, former chairman and chief executive officer of Amgen joined the board as a non-executive director.

Risers

Infinis Energy (INFI) 188.00p +2.96%
Hunting (HTG) 633.00p +2.93%
Evraz (EVR) 161.80p +2.80%
Telecom Plus (TEP) 830.00p +2.28%
Thomas Cook Group (TCG) 146.80p +2.16%
Premier Farnell (PFL) 195.50p +2.14%
BlackRock World Mining Trust (BRWM) 310.80p +2.04%
Euromoney Institutional Investor (ERM) 1,200.00p +2.04%
Poundland Group (PLND) 301.60p +1.89%
Rotork (ROR) 257.50p +1.86%

Fallers
Just Eat (JE.) 426.80p -4.65%
Betfair Group (BET) 2,524.00p -4.57%
TalkTalk Telecom Group (TALK) 392.40p -4.01%
Enterprise Inns (ETI) 129.80p -2.92%
BTG (BTG) 687.50p -2.83%
Provident Financial (PFG) 2,866.00p -2.78%
Just Retirement Group (JRG) 168.70p -2.77%
St. Modwen Properties (SMP) 438.50p -2.71%
Big Yellow Group (BYG) 634.50p -2.68%
Elementis (ELM) 296.20p -2.66%