FTSE 250 movers: Tate & Lyle hit by downgrade, energy stocks higher

Shares in sugar, sweetener and food ingredients group Tate & Lyle were losing their flavour after analysts at Credit Suisse lowered their rating on the stock from 'neutral' to 'underperform'.

Ladbrokes was also trading lower as the bookmaker revealed operating profits were down materially due to customer friendly sporting results and new UK tax rules.

Amec Foster Wheeler reversed from Tuesday's gains, which were driven by news the energy and mining engineering group has won a power generation contract for a new power plant in the Philippines.

Fizzy drinks producer Britvic was in the red after French broker Societe Generale cut its rating to 'hold' from 'buy', warning about currency impacts from the weak euro ahead of first half results due on May 20.

Meanwhile, Croda was boosted by strong first quarter sales, which rose 4% on a constant currency basis, bolstered by growth across all its units.

Energy stocks tracked oil prices higher, with Ophir Energy and Infinis Energy both advancing.

Risers

Ophir Energy (OPHR) 164.00p +4.79%
Playtech (PTEC) 842.50p +3.63%
Fisher (James) & Sons (FSJ) 1,348.00p +3.45%
Infinis Energy (INFI) 190.00p +3.26%
AA (AA.) 405.00p +2.79%
Renishaw (RSW) 2,555.00p +1.96%
Unite Group (UTG) 603.00p +1.94%
UDG Healthcare Public Limited Company (UDG) 520.00p +1.86%
Ted Baker (TED) 2,858.00p +1.78%
Inmarsat (ISAT) 996.50p +1.63%

Fallers
Tate & Lyle (TATE) 609.50p -5.14%
PayPoint (PAY) 839.50p -3.89%
Petra Diamonds Ltd.(DI) (PDL) 160.00p -3.38%
Serco Group (SRP) 133.90p -3.32%
Ladbrokes (LAD) 102.90p -3.02%
RPS Group (RPS) 241.20p -3.02%
Rotork (ROR) 2,460.00p -2.92%
Amec Foster Wheeler (AMFW) 917.50p -2.81%
Cairn Energy (CNE) 173.50p -2.64%
Supergroup (SGP) 928.00p -2.52%