FTSE 250 movers: Petra Diamonds falls short of full-year profit expectations

Diamond mine operator Petra Diamonds was trading lower after announcing that it may not meet analysts' expectations for full-year profits. Sales jumped by 16% in the first six months of the year to reach $214.8m. The increased sales in the period were in part thanks to the sale of two exceptional diamonds for a combined revenue of $38.7m.

WH Smith was in the red after UBS downgraded their rating from “neutral’ to ‘sell’ in a research report released on Monday.

Vedanta Resources was among the fallers after Credit Suisse cut its target price on the stock from £9 to £5, in line with lower oil prices. This follows guidance last week from Cairn India that the company will aim to remain free cash flow positive at current oil spot prices.

Drax Group shares were hit as Credit Suisse cut their price target on the stock from £7.50 to £4.30 on Monday.

Provident Financial was boosted by news that the company's fiscal second quarter net income of $2.3m had beaten Wall Street's expectations. On a per-share basis, the company had a profit of 25 cents, beating the forecast 23 cents.

Betfair shares were also climbing after an upgrade to ‘buy’ from ‘neutral’ by analysts at BofAML in a note issued to investors on Monday.

Risers

Zoopla Property Group (WI) (ZPLA) 165.20p +6.58%
AO World (AO.) 300.90p +4.37%
Indivior (INDV) 172.10p +3.93%
Go-Ahead Group (GOG) 2,568.00p +3.13%
Just Eat (JE.) 364.90p +2.82%
Diploma (DPLM) 769.00p +2.53%
Betfair Group (BET) 1,588.00p +2.45%
Close Brothers Group (CBG) 1,564.00p +2.42%
Man Group (EMG) 179.30p +2.28%
Provident Financial (PFG) 2,664.00p +2.19%

Fallers
Vedanta Resources (VED) 391.10p -9.05%
Petra Diamonds Ltd.(DI) (PDL) 168.90p -6.43%
Hunting (HTG) 431.30p -6.32%
Afren (AFR) 18.95p -4.05%
Telecom Plus (TEP) 997.00p -3.95%
BlackRock World Mining Trust (BRWM) 300.70p -3.87%
Entertainment One Limited (ETO) 269.70p -3.12%
WH Smith (SMWH) 1,355.00p -3.08%
Drax Group (DRX) 363.20p -3.04%
Serco Group (SRP) 164.90p -2.89%