FTSE 250 movers: Zoopla gains as OnTheMarket competition downplayed, oil companies lower

Zoopla topped the risers as Cannacord analysts played down the impact of new rival OnTheMarket. The broker said: “Our review of OnTheMarket shows a poor ‘user experience’. Searching is difficult; there is no price history; there is little that is helpful for a person trying to buy a property.”

“Over the next few months we expect the majority of agents which remain on both Rightmove and Zoopla to increase their advertising spend. In particular, online agents like PurpleBricks, are increasing their inventory and marketing spend.”

Thomas Cook was trading higher on read-across from TUI, which expressed its confidence with a 1% rise in average selling prices for the summer booking season.

Cable and Wireless was boosted by a strong third-quarter trading update. Group revenue at $444m, up 5%, or 2% on a like-for-like basis.

Meanwhile oil and energy companies were hit as the rebound in oil prices lost some momentum, with US crude trading lower for the first time in four sessions. This was a result of the International Energy Agency (IEA) warning of more sell-offs in the near term as stocks continue to rise. Hunting, Vedanta, Soco International, Infinis Energy, Petrofac and Ophir Energy were all weaker.

Vedanta was also damaged by difficulties at its Zambian copper unit, amid an increase in taxes and low metal prices. “We will have to make some very difficult decisions, even with the support of the government,” Vedanta chief executive officer Tom Albanese said in a Cape Town panel discussion on Monday. A “situation where the government is chasing capital and chasing investment away makes our jobs even harder,” he added.

FTSE 250 - Risers
RPS Group (RPS) 231.60p +6.29%
Bwin.party Digital Entertainment (BPTY) 103.40p +5.13%
Zoopla Property Group (WI) (ZPLA) 183.00p +5.11%
Drax Group (DRX) 409.50p +5.03%
Micro Focus International (MCRO) 1,153.00p +4.63%
Thomas Cook Group (TCG) 133.00p +4.23%
Allied Minds (ALM) 455.00p +3.41%
Hikma Pharmaceuticals (HIK) 2,412.00p +3.39%
Cable & Wireless Communications (CWC) 56.30p +3.11%
Entertainment One Limited (ETO) 296.90p +2.73%

FTSE 250 - Fallers
Hunting (HTG) 505.00p -7.93%
Vedanta Resources (VED) 428.60p -6.83%
Soco International (SIA) 293.60p -5.29%
Wood Group (John) (WG.) 601.00p -4.68%
Premier Farnell (PFL) 162.00p -4.31%
Ophir Energy (OPHR) 144.50p -4.30%
Lonmin (LMI) 172.20p -3.91%
William Hill (WMH) 375.00p -3.75%
Premier Oil (PMO) 165.40p -3.39%
Petrofac Ltd. (PFC) 779.00p -3.23%