FTSE 250 movers: TalkTalk slumps while Vedanta Resources rebounds

The FTSE 250 fell 0.40% to 16,593.06 in afternoon trade on Friday.

TalkTalk was among the biggest fallers on London’s index, a day after saying full year profits more than halved following a cyber attack on its systems last October, which cost £42m.

The telecoms provider reported a 56% drop in profits to £14m compared to £32m the previous year.

"We recorded our lowest ever churn and stabilised the broadband base, testimony to the speed with which customer sentiment has recovered," chief executive Dido Harding said.

Cairn Energy shares also declined after its chief executive Simon Thomson said the company is eyeing potential acquisitions in the North Sea but admit good deals are hard to find due to lower crude prices.

On the upside, Vedanta Resources rebounded from the previous day’s drop when it slashed its full year dividend by more than half amid weak commodities.

Acacia Mining jumped after Credit Suisse raised its target price to 380p from 300p and reiterated an ‘outperform’ rating on the stock.

“We think this is an opportunity to buy a cash generative gold stock with a strong balance sheet and rerating catalysts in 2016,” Credit Suisse analysts said.

FTSE 250 - Risers

Ibstock (IBST) 206.30p 5.74%
Vedanta Resources (VED) 364.20p 5.57%
Polypipe Group (PLP) 304.90p 5.14%
Hikma Pharmaceuticals (HIK) 2,299.00p 3.51%
Virgin Money Holdings (UK) (VM.) 337.00p 2.71%
Cable & Wireless Communications (CWC) 76.10p 2.28%
DFS Furniture (DFS) 298.00p 2.26%
Dunelm Group (DNLM) 918.00p 2.00%
HICL Infrastructure Company Ltd (HICL) 163.20p 1.94%
Indivior (INDV) 158.90p 1.92%

FTSE 250 - Fallers

Ocado Group (OCDO) 278.00p -6.18%
Lookers (LOOK) 131.80p -5.32%
TalkTalk Telecom Group (TALK) 256.90p -4.53%
esure Group (ESUR) 267.60p -3.29%
Cairn Energy (CNE) 202.00p -3.07%
Micro Focus International (MCRO) 1,515.00p -3.07%
CLS Holdings (CLI) 1,601.00p -2.97%
Just Eat (JE.) 405.20p -2.92%
Countrywide (CWD) 342.90p -2.83%
NCC Group (NCC) 278.00p -2.76%