FTSE 250 movers: Index flat ahead of Yellen speech; oil stocks slide

The FTSE 250 was in a holding pattern in mid-afternoon trade as investors awaited a speech from US Federal Reserve chairman Janet Yellen which may give guidance on future interest rate moves.

The index of midcap shares was treading water, up 0.08% at 1519 BST to 16,687 points.

Allied Minds was out in front as the main riser. The company earlier this month launched a new subsidiary to develop potential cancer drugs from compounds developed by the New York University School of Medicine.

Polymetal shares led the fallers, despite swinging into positive net earnings territory in 2015, with the Russian precious metals producer reporting solid numbers for the calendar year on Tuesday thanks to a seriously devalued rouble.

The company’s revenue decreased 15% for the year to $1.44bn, which it blamed on average realised gold and silver prices, which dropped by 8% and 17% respectively year-on-year. Polymetal’s gold sales of 864 kilo ounces were down 8% on the prior year, while silver sales of 31.2 million ounces were up 6%, in line with production volume dynamics.

Evraz, Ophir Energy, Vedanta Resources and Tullow Oil were all among the top 10 fallers as weaker oil prices hit Asian markets overnight and affected sentiment in the UK.

FTSE 250 - Risers

Allied Minds (ALM) 477.40p 3.45%
Aggreko (AGK) 1,067.00p 3.19%
McCarthy & Stone (MCS) 250.00p 2.68%
Supergroup (SGP) 1,432.00p 2.65%
Brown (N.) Group (BWNG) 328.60p 2.62%
Hikma Pharmaceuticals (HIK) 1,943.00p 2.59%
Debenhams (DEB) 74.10p 2.56%
Euromoney Institutional Investor (ERM) 931.50p 2.48%
Sports Direct International (SPD) 358.80p 2.44%
Sophos Group (SOPH) 219.50p 2.26%

FTSE 250 - Fallers

Evraz (EVR) 83.75p -8.25%
Polymetal International (POLY) 663.00p -5.89%
Ophir Energy (OPHR) 78.05p -5.12%
Vedanta Resources (VED) 309.90p -3.86%
Amec Foster Wheeler (AMFW) 430.80p -3.76%
Ocado Group (OCDO) 299.10p -3.58%
Tullow Oil (TLW) 193.20p -3.41%
Cairn Energy (CNE) 199.60p -2.96%
Wood Group (John) (WG.) 593.50p -2.79%
SSP Group (SSPG) 279.50p -2.78%