FTSE 250 movers: Micro Focus surges on revenue guidance, oil stocks lower

London markets were registering losses on Tuesday as weakness in industrial metals and pharmaceuticals outweighed solid performances from engineering and transport stocks.

As of 15:30 BST, the FTSE 250 was trading 46.7 points lower at 18,146 points

Software group Micro Focus gained after reiterating its guidance to treble annual revenues on the back of a strong finish to its financial year, helped by the first contribution from its merger with The Attachment Group.

Cineworld impressed with like-for-like revenue growth of 10.7% in its first quarter, with a stream of blockbuster films expected to deliver a strong box office year ahead.

Vedanta Resources was in the red despite UBS kicking off its coverage with a 'buy' rating, celebrating the miner's diversified business, with exposure to a variety of commodities and portfolio spanning India, southern Africa, Ireland and Australia.

Premier Oil and Tullow Oil were trading lower as Brent crude declined 0.7% to $65.07 a barrel. Tullow was also hit as analysts at JPMorgan Chase & Co trimmed their price target on the stock from 425p to 424p.

Evraz topped the fallers as it claimed one of its lenders is stalling a process to rescue the company from insolvency, as the bank refuses to cede control of a debtors’ book, according to Bloomberg.

Risers
Countrywide (CWD) 592.00p +2.78%
Ted Baker (TED) 2,906.00p +2.65%
Fidelity China Special Situations (FCSS) 177.60p +2.36%
Cable & Wireless Communications (CWC) 69.30p +2.36%
Alent (ALNT) 376.60p +2.28%
Keller Group (KLR) 1,019.00p +2.00%
Cineworld Group (CINE) 511.00p +2.00%
Just Eat (JE.) 464.90p +1.95%
Balfour Beatty (BBY) 259.30p +1.81%
Inchcape (INCH) 873.00p +1.69%

Fallers
Evraz (EVR) 173.70p -4.51%
Tullow Oil (TLW) 397.70p -4.15%
Premier Oil (PMO) 158.70p -3.70%
Synergy Health (SYR) 2,185.00p -3.66%
Investec (INVP) 627.00p -3.09%
Vedanta Resources (VED) 614.00p -2.92%
Polymetal International (POLY) 542.00p -2.87%
Fidessa Group (FDSA) 2,194.00p -2.83%
Brown (N.) Group (BWNG) 330.40p -2.82%
Acacia Mining (ACA) 291.30p -2.80%