FTSE 250 movers: Homeserve assists; Electra slumps after going ex-divi

Homeserve helped to keep the FTSE 250 in positive territory after the company said Thursday that its full-year results are anticipated to be at the upper end of market expectations thanks to strong momentum in the business.

The range of analyst forecasts for adjusted pre-tax profit for the year is £105m to £112m.

In a trading update for the year to the end of March 2017, the company said it has had "a very good year", now offering products to more than 100m affinity partner households and with 7.8m customers.

Tullow Oil shares went on a roller-coaster on the back of the company's £607m rights issue announced last month. They started they day almost 15% lower, but recovered after lunch to be 6% higher and second on the risers list.

Electrocomponents rose as the company said on Thursday that results for the year to the end of March 2017 are likely to be ahead of its previous expectations, with pre-tax profit ahead of the current market consensus range following a strong final quarter.

The market consensus range for headline pre-tax profit is between £122.3m and £124.2m.

On the red side of the screen, shares in private equity group Electra halved as the stock went ex-dividend. The company recently announced it was giving shareholders a massive £1bn dividend payout.

The payout is the equivalent of 2,612p per share. Electra said it found itself with a "significant" pot of cash after the termination of its outsourced management contract with Epiris which had led to fewer investments being made along the with the continuing sale of investments.

Ferrexpo slumped as it posted a decline in iron ore pellet production during the first quarter of 2017 as a result of scheduled pellet line maintenance in the first two months of the year.

Market Movers

FTSE 100 (UKX) 7,303.82 -0.38%
FTSE 250 (MCX) 19,075.90 0.03%
techMARK (TASX) 3,423.45 -0.40%

Homeserve (HSV) 619.00p 9.27%
Tullow Oil (TLW) 210.10p 6.43%
Countryside Properties (CSP) 257.40p 5.32%
IP Group (IPO) 144.60p 3.80%
McCarthy & Stone (MCS) 188.10p 3.13%
Redrow (RDW) 529.50p 3.12%
Serco Group (SRP) 116.50p 3.10%
Go-Ahead Group (GOG) 1,740.00p 2.78%
Electrocomponents (ECM) 490.90p 2.40%
Restaurant Group (RTN) 342.50p 2.39%

FTSE 250 - Fallers

Electra Private Equity (ELTA) 2,419.00p -52.66%
Allied Minds (ALM) 170.80p -7.68%
Berendsen (BRSN) 745.00p -3.25%
Metro Bank (MTRO) 3,416.00p -2.43%
Pets at Home Group (PETS) 174.60p -2.29%
Ashmore Group (ASHM) 358.00p -2.29%
Virgin Money Holdings (UK) (VM.) 304.50p -2.15%
Brewin Dolphin Holdings (BRW) 317.40p -2.13%
Mitie Group (MTO) 215.00p -2.05%
Bovis Homes Group (BVS) 874.00p -2.02%