FTSE 250 movers: IG Group gains on update; Sports Direct tumbles

London’s FTSE 250 index was up just 0.1% to 16,879.81 at 1440 GMT as investors took in news of the terror attacks in Brussels.

Online spreadbetting and financial trading firm IG Group Holdings was a high riser after it posted an 18% rise in third-quarter revenue and said it was entering the fourth quarter in a strong position.

In a trading update for the three months to 29 February, IG said total revenue rose to a record £122m from £013.6m in 2015. IG said a constant flow of macro-economic news created reasonable levels of volatility in financial markets, providing clients with a wide range of trading opportunities.

In the UK & Ireland – the group’s largest market – revenue was up 13% to £62.7m, while Europe saw a 24% jump to £25.7m and Rest of the World revenue increased 31% to £16.3m.

Bellway was also on the front foot after reporting a big jump in interim pre-tax profit as revenue grew and the housebuilder hiked its dividend.

In the six months to the end of January, pre-tax profit rose 42.6% to £226.6m on revenue of £1.08bn, up 30.5% from 2015.

Earnings per share came in at 148.7p from 103.5p in the same period a year ago and the company lifted its interim dividend 36% to 34p per share.

Woodford Patient Capital Trust was in the black as it said it has suspended the fundraising announced in January as it deals with lower risk appetite and low levels of liquidity in the market.

In its maiden results, the trust said net asset value fell in 2015 by 2.6% to 97.38p.

Sports Direct was the standout loser after founder Mike Ashley said the company was not trading well.

Ashley told The Times he was concerned the sportswear retailer was losing momentum and said he would refuse to appear before a Commons select committee in June.

He said: “We are in trouble, we are not trading very well. We can’t make the same profit last year.

“We are supposed to taking profits up, they are not supposed to be going down.”

Holiday operator Thomas Cook was also under the cosh after saying it was operating in a “volatile market environment” and cautioning that summer bookings will be below the previous year following terrorist attacks in Turkey and Egypt.

The terror attacks in Brussels earlier on Tuesday were also likely to be having an impact, as they took their toll on the broader travel and leisure sector.

Risers

IP Group (IPO) 190.70p 5.24%
IG Group Holdings (IGG) 785.00p 3.90%
Bellway (BWY) 2,567.00p 3.80%
McCarthy & Stone (MCS) 257.80p 3.12%
Allied Minds (ALM) 439.10p 2.57%
Saga (SAGA) 189.90p 2.48%
Centamin (DI) (CEY) 91.40p 2.41%
SVG Capital (SVI) 503.50p 2.40%
Acacia Mining (ACA) 276.30p 2.33%
Woodford Patient Capital Trust (WPCT) 90.50p 2.26%

Fallers

Sports Direct International (SPD) 388.00p -8.45%
Thomas Cook Group (TCG) 88.00p -4.86%
Aberdeen Asset Management (ADN) 274.40p -3.72%
Sophos Group (SOPH) 221.00p -3.07%
Telecom Plus (TEP) 909.50p -2.52%
Senior (SNR) 224.80p -2.39%
Homeserve (HSV) 412.60p -2.37%
Polypipe Group (PLP) 327.30p -2.36%
Jimmy Choo (CHOO) 133.00p -2.21%
AA (AA.) 267.80p -2.19%