FTSE 250 movers: Sophos bounces back as Inmarsat sinks

London's FTSE 250 was up 0.43% at 19,230.05 in afternoon trade on Thursday, with Sophos staging a fightback.

Security software group Sophos recovered strongly after plummeting almost 30% on Wednesday as its first-half revenues fell short of analysts' expectations and the company warned on billings and future growth.

The company was buoyed by notes from analysts at Citi and Credit Suisse, who reiterated their respective 'buy' and 'outperform' ratings, with the latter stating that Sophos' unlevered free-cashflow yield of around 7% made it an "attractive" investment prospect.

Hikma Pharmaceuticals surged as it lifted its full-year guidance after solid performances from its injectables and generics divisions, while OneSavings Bank advanced as it posted loan book growth of 16% for the first nine months of the year, with net loans and advances up by £1.18bn to £8.5bn during the period.

Security services firm G4S recovered from heavy losses a day earlier following a disappointing trading statement, while kitchens outfitter Howden Joinery climbed after reiterating its full-year expectations in a solid trading update from the second quarter of its financial year.

Going the other way, Inmarsat sank after the satellite company posted a 3.7% jump in third-quarter revenue and a 6.8% EBITDA rise but warned of challenging conditions in the maritime market.

The company noted that conditions have worsened as the market is now quickly adopting broadband connectivity, with the pace of adoption being faster and more disruptive than previously expected in some areas.

Motoring and cycling specialist Halfords was also on the back foot as is posted an improvement in first-half sales but a sharp drop in profits, while shares of Superdry dipped as the retailer reported poor in-store sales after unseasonably hot weather conditions in the first half of the year, though these were offset by strong wholesale and online revenues.

BBA Aviation fell after it said full year underlying operating profit was on track to be broadly in line with expectations as its Ontic and discontinued ERO businesses offset a softer-than-expected US market.

Galliford Try, Go-Ahead Group, Lancashire Holdings and Card Factory also dropped as they went ex-dividend.

Market Movers

FTSE 250 (MCX) 19,230.05 0.43%

FTSE 250 - Risers

Sophos Group (SOPH) 345.00p 6.48%
Wetherspoon (J.D.) (JDW) 1,185.00p 4.13%
Hikma Pharmaceuticals (HIK) 1,990.00p 3.78%
OneSavings Bank (OSB) 391.00p 3.71%
CYBG (CYBG) 264.40p 3.52%
JD Sports Fashion (JD.) 426.24p 3.16%
G4S (GFS) 183.70p 3.12%
Sports Direct International (SPD) 323.00p 2.90%
Howden Joinery Group (HWDN) 485.45p 2.89%
Senior (SNR) 255.60p 2.73%

FTSE 250 - Fallers

Inmarsat (ISAT) 429.60p -6.69%
Galliford Try (GFRD) 857.39p -4.79%
TalkTalk Telecom Group (TALK) 124.00p -3.50%
Go-Ahead Group (GOG) 1,539.00p -3.33%
Halfords Group (HFD) 300.20p -3.16%
Superdry (SDRY) 834.50p -2.57%
BBA Aviation (BBA) 242.00p -2.50%
Lancashire Holdings Limited (LRE) 597.00p -2.45%
Card Factory (CARD) 187.30p -2.40%
Softcat (SCT) 646.00p -2.12%