FTSE 250 movers: Commodity prices pull oil stocks down

London’s FTSE 250 fell slightly on Thursday, down 0.25% to 17,731.01 at 1456 BST.

Tullow Oil led the fallers, declining 8.67% to 222.20p while fellow oil company Premier Oil was not far behind, falling by 7.81% to 116.80p. The pair suffered at the hands of falling oil prices as a supply shortage spooked the market.

Lonmin’s plunge continued as its share price fell, by 7.88% to 40.91p. The miner has lost more than 80% in the last 12 months and continued to struggle to amidst falling platinum prices.

Aggreko also fell as the company warned of a tough year ahead and it continued to work through restructuring to combat a weak oil and gas market. Shares in the company fell by 3.71% to 1,143p after it noted increased competition and geopolitical uncertainty.

Going the other way Cobham led the risers, despite pre-tax profits taking a knock. The manufacturer’s profits were cut due the costs of acquiring rival Aeroflex, but it noted revenue was up by about a quarter.

Enterprise Inns rose by more than 4% to 278.20p after the company said like for like net income was up 0.5% higher. The result surprised analysts which had expected flatter figures.

Phoenix Group Holdings rose after analysts said its ‘A’ rating from Fitch would put the insurer in a much better position to do mergers and acquisition in the UK. JP Morgan said the rating from Fitch was a positive development and reiterated an ‘overweight’ position on the stock.

FTSE 250 - Risers
Cobham (COB) 278.20p +5.98%
Enterprise Inns (ETI) 119.30p +4.01%
Phoenix Group Holdings (DI) (PHNX) 896.00p +2.99%
Bovis Homes Group (BVS) 1,180.00p +2.43%
Ted Baker (TED) 3,274.00p +2.38%
UDG Healthcare Public Limited Company (UDG) 527.50p +2.23%
Aldermore Group (ALD) 264.00p +2.21%
Supergroup (SGP) 1,476.00p +1.93%
Berkeley Group Holdings (The) (BKG) 3,453.00p +1.83%
Dairy Crest Group (DCG) 599.50p +1.78%

FTSE 250 - Fallers
Tullow Oil (TLW) 222.20p -8.67%
Lonmin (LMI) 40.91p -7.88%
Premier Oil (PMO) 116.80p -7.81%
Ophir Energy (OPHR) 108.30p -5.66%
Just Eat (JE.) 398.90p -3.88%
Aggreko (AGK) 1,143.00p -3.71%
IP Group (IPO) 205.80p -3.06%
Vedanta Resources (VED) 399.20p -2.97%
Pace (PIC) 358.10p -2.95%
RPC Group (RPC) 652.50p -2.54%