FTSE 250 movers: OneSavings, Zoopla down on stamp duty rise

The mid-cap index of 250 shares was down almost 1% in afternoon trade on the back of weaker UK manufacturing activity and ahead of the US non-farm payrolls report.

At 1355 BST the FTSE 250 was at 16,770.62, down -0.92%.

OneSavings Bank, led the fallers, down 4%. Last week the company said it had completed the purchase of a portfolio of UK first charge residential mortgages.

The residential property market also turned negative in general as higher stamp duty rates kicked in on Friday for "buy to let" transactions as the government tried to take the heat out of the housing market.

Anyone who buys an additional property for over £40,000 as a buy-to-let investment, second home or holiday home will have to pay an extra 3% under the new buy-to-let stamp duty rules. For example, the stamp duty payable on a £275,000 home wwill rise to £12,000 from rising from £3,750, according to consumer rights group Which?

Shares in online property firm Zoopla fell in sympathy with the trend, shedding 3.4%.

The portfolio had an outstanding balance of £112m at the end of February and is being acquired at a discount to par. The transaction will be satisfied by cash from OneSavings’ existing resources.

UDG Healthcare led the risers after annoucing it had completed the sale of its United Drug Supply Chain and MASTA businesses.

FTSE 250 - Risers

UDG Healthcare Public Limited Company (UDG) 596.00p 2.05%
Ocado Group (OCDO) 294.70p 1.59%
SVG Capital (SVI) 509.00p 1.50%
Clarkson (CKN) 2,250.00p 1.35%
Virgin Money Holdings (UK) (VM.) 373.80p 1.33%
Centamin (DI) (CEY) 89.55p 1.30%
Paysafe Group (PAYS) 429.10p 1.27%
Euromoney Institutional Investor (ERM) 953.00p 1.17%
TalkTalk Telecom Group (TALK) 239.30p 0.93%
LondonMetric Property (LMP) 160.00p 0.88%

FTSE 250 - Fallers

OneSavings Bank (OSB) 319.10p -4.12%
Petrofac Ltd. (PFC) 883.50p -4.07%
Cobham (COB) 208.40p -4.01%
Ted Baker (TED) 2,615.00p -3.97%
Inchcape (INCH) 695.50p -3.87%
PZ Cussons (PZC) 291.40p -3.54%
Zoopla Property Group (WI) (ZPLA) 241.50p -3.40%
Fidessa Group (FDSA) 2,360.00p -3.36%
Sports Direct International (SPD) 365.50p -3.33%
Debenhams (DEB) 72.70p -3.32%