FTSE 250 movers: Retailers and energy stocks surge, ex-dividend insurers lower

Supergroup made strong gains after Investec said a focus on retail execution and UK profit maximisation was a “major opportunity”. The broker reiterated its 'buy' rating, with analyst Kate Calvert adding: “We see material growth opportunities, not only in maximising UK profitability by optimising its channels, but also driving online growth and the International roll-out with Europe as the key territory over the medium term.”

Energy stocks were in demand, boosted by sector-wide tax relief measures in George Osborne’s Budget. Premier Oil, Ophir Energy and Soco International all gained on the news.

Jimmy Choo was boosted by strong annual results, in which sales rose from £281.5m in 2013 to £299.7m in 2014. “Cool British-attitude-style” products had also performed well, chief executive Pierre Denis said, although Menswear remained the fastest growing category.

Ted Baker was also higher on strong full-year results. Pre-tax profits were up 23.7% to £49.5m for the 12 months to the end of January. Founder and chief executive Ray kelvin said that looking forward, the company will aim to further establish itself in Turkey and the Middle East. Business in Canada and the US remained strong.

Meanwhile, insurers Brit and Lancashire Holdings led the fallers after going ex-dividend.

Ladbrokes declined after analysts at HSBC downgraded the stock from ‘neutral’ to ‘underweight’.