FTSE 250 movers: Ladbrokes hit by job cuts, DS Smith boosted by Duropack acquisition

Ladbrokes topped the fallers after it was reported on Sunday the company would be announcing the closure of roughly 50 betting shops due to the challenge of tax rises and regulation. The company is expected to outline the plans at its full-year results presentation on Thursday.

Premier Oil was lower after revealing it had plugged and abandoned the Badada-1 exploration well in Kenya. Although Premier Oil did not announce why, partner Tower revealed a failure to find commercial hydrocarbons was to blame.

"Drilling results suggest that the section here is sandier than had been expected and the development of sealing claystones is less than had been hoped. We shall be evaluating the results of the well to assess the remaining prospectivity in this very large area," said Tower chief executive officer Graeme Thomson.

Cairn Energy was in the red as it sacked nearly 40% of its employees under capital constraints. The Scottish oil and gas explorer has been unable to sell $1bn worth of stake to raise funds for its exploration programme following a tax dispute in India, prompting the dramatic cost cutting measure.

British packager DS Smith was leading the risers after agreeing to buy Duropack for roughly $341m from a subsidiary of One Equity Partners. The acquisition will be financed from existing facilities and immediately add to earnings per share, a spokesperson confirmed.

"The main driver is Duropack's business in Hungary, Croatia, Bulgaria, Bosnia, Slovenia, and Macedonia where DS Smith has limited presence, if any, and Duropack has a very strong market leading presence," said chief financial officer Adrian Marsh.

Dechra Pharmaceuticals was trading higher after its underlying profts rose to £23m in the second half of 2014 - 11.7% up at constant exchange rate and 3.6% up at actual exchange rates. Group revenue also increased to £100.9m.

Chief executive Ian Page said: "The group has made a solid start to the year with continued momentum in Europe and a strong performance in the US. Our focus on executing our strategy is delivering value to shareholders. Our core portfolio demonstrates growth, our product pipeline is delivering results and our global expansion is progressing well."

Risers
Smith (DS) (SMDS) 362.50p +4.41%
Bank of Georgia Holdings (BGEO) 1,964.00p +3.37%
Dechra Pharmaceuticals (DPH) 938.00p +3.19%
ICAP (IAP) 528.50p +2.52%
Ted Baker (TED) 2,545.00p +2.13%
Barr (A.G.) (BAG) 680.00p +2.10%
Marston's (MARS) 152.30p +2.01%
UDG Healthcare Public Limited Company (UDG) 449.70p +1.90%
Close Brothers Group (CBG) 1,622.00p +1.82%
Cobham (COB) 347.40p +1.79%

Fallers
Ladbrokes (LAD) 114.90p -5.82%
Premier Oil (PMO) 167.00p -5.81%
Ophir Energy (OPHR) 135.30p -5.58%
Hunting (HTG) 462.40p -4.90%
AL Noor Hospitals Group (ANH) 954.00p -4.60%
Polymetal International (POLY) 570.00p -4.52%
Petrofac Ltd. (PFC) 788.00p -4.08%
Acacia Mining (ACA) 271.50p -4.06%
Vedanta Resources (VED) 574.50p -3.93%
Cairn Energy (CNE) 199.60p -3.85%