FTSE 250 movers: Entertainment One tumbles on downgrade but Genus sizzles

London’s FTSE 250 index was down 0.9% to 17,198.41 at 1400 GMT, with Peppa Pig owner Entertainment One pacing the decline.

There was a distinctly porcine theme running through the movers on Tuesday.

Entertainment One was firmly on the back trotter after Peel Hunt downgraded the stock to ‘reduce’ from ‘hold’ and slashed the price target to 200p from 260p.

At the pre-finance level Entertainment One’s financials didn’t change much after the company’s latest set of interims, but the immediate revenue and costs had shrunk and its recent refinancing would significantly increase its debt costs, Peel Hunt said.

Furthermore, there was no sign of a move to cash inflows in the foreseeable future, it added.

Serco was also under the cosh for the second day in a row after it said on Monday that it expects revenue and trading profit to fall in 2016 partly due in part to the disposal of its offshore call centre, although underlying profit for 2015 is expected to be ahead of guidance.

The outsourcer said it now expects revenue of around £2.8bn and underlying trading profit of around £50m in 2016. The group said the exit of private sector business process outsourcing operations will reduce revenue by around £300m.

Animal genetics company Genus was a high riser after saying it has developed the first pigs resistant to porcine reproductive and respiratory syndrome virus (PRRSv), though a long-standing collaboration with the University of Missouri.

The animal genetics company said the production of these pigs is a significant breakthrough in combating the “devastating” porcine disease, which can cause persistent infection in pigs and lead to reproductive failure, reduced growth and premature death.

Risers

Lancashire Holdings Limited (LRE) 600.00p 3.54%
CLS Holdings (CLI) 1,800.00p 3.33%
Croda International (CRDA) 2,964.00p 1.93%
Spire Healthcare Group (SPI) 310.70p 1.80%
Vectura Group (VEC) 176.40p 1.38%
Moneysupermarket.com Group (MONY) 326.60p 1.37%
Allied Minds (ALM) 463.50p 1.20%
Caledonia Investments (CLDN) 2,360.00p 1.07%
Genus (GNS) 1,480.00p 1.02%
Wizz Air Holdings (WIZZ) 1,724.00p 1.00%

Fallers

Entertainment One Limited (ETO) 136.00p -22.90%
Drax Group (DRX) 215.60p -5.27%
Premier Oil (PMO) 55.00p -4.76%
Serco Group (SRP) 104.20p -4.67%
Petra Diamonds Ltd.(DI) (PDL) 62.00p -4.39%
Home Retail Group (HOME) 106.00p -3.99%
AO World (AO.) 163.20p -3.94%
Marston's (MARS) 169.10p -3.92%
Kaz Minerals (KAZ) 98.35p -3.86%
Hunting (HTG) 295.50p -3.84%