FTSE 250 movers: Petropavlovsk gains; IG Group loses ground
London’s FTSE 250 was up 0.1% at 17,487.20 in afternoon trade on Thursday.
Petropavlovsk surged as the Russian gold miner said total gold production remains on track to meet its full-year target of 620koz-720koz, including third-party concentrate processing, after a 42% rise in second quarter output.
Security services firm G4S gained after saying it had beaten first-half profit forecasts and expects to see increased demand for thermal cameras and screening personnel as the world looks to adapt to a "new normal" in the post-coronavirus-related lockdown world.
Insurer Beazley was in the black despite saying it swung to a loss in the first half due to coronavirus-related claims. In the six months to the end of June, it swung to a pre-tax loss of $13.8m from a profit of $166.4m in the first half of last year, pointing to “high volumes of claims arising from Covid-19 impacted lines”.
Broker Shore Capital said it was a "resilient" set of earnings, with losses lower than estimates.
On the downside, IG Group was weaker even as it posted a 36% jump in full-year net trading revenue and a 52% increase in pre-tax profit. Traders pointed said the shares had a good run into the numbers and highlighted the fact that medium-term targets were reiterated despite the big rise in annual profit.
Housebuilder and urban regeneration company Countryside Properties fell after raising around £250m through a discounted placing and subscription to bolster its balance sheet amid the pandemic and fund further growth in the partnerships division.
FTSE 250 - Risers
Petropavlovsk (POG) 36.25p 15.81%
G4S (GFS) 147.10p 7.69%
Beazley (BEZ) 457.00p 6.03%
BMO Commercial Property Trust Limited (BCPT) 57.40p 4.36%
Clarkson (CKN) 2,135.00p 4.15%
Impax Environmental Markets (IEM) 354.00p 4.12%
Micro Focus International (MCRO) 310.00p 4.03%
Herald Investment Trust (HRI) 1,676.00p 3.71%
Syncona Limited NPV (SYNC) 248.50p 3.54%
Future (FUTR) 1,312.00p 3.47%
FTSE 250 - Fallers
IG Group Holdings (IGG) 755.50p -9.41%
Countryside Properties (CSP) 333.80p -7.07%
Network International Holdings (NETW) 466.80p -4.93%
QinetiQ Group (QQ.) 304.80p -4.03%
Centrica (CNA) 40.26p -3.85%
TBC Bank Group (TBCG) 739.00p -3.65%
Cairn Energy (CNE) 127.50p -3.26%
888 Holdings (888) 184.20p -3.15%
National Express Group (NEX) 161.00p -2.95%
Dixons Carphone (DC.) 78.45p -2.85%