FTSE 250 movers: Oil and gas stocks in decline as reports claim Saudi Arabia has cut prices

EnQuest was a notable faller after topping the risers list on Wednesday. The company had its target price lowered by Numis from $2.52 to $1.23 in a research note released today. Premier Oil, Nostrum Oil and Gas and Hunting also fell.

Ferrexpo was also declining sharply after Citigroup Global Markets placed the company among its “least favoured”. Citi Research said: “We believe 2015 is likely to be a polarizing year for the global metals, mining and steel companies as competing forces between Currencies, Commodities and Countries drive major alpha outcomes.”

Meanwhile, Betfair rose strongly after revealing half-year pre-tax profit of £63m compared with just £31.7m in the previous year. Chief executive officer Breon Corcoran said: “We have substantially strengthened our competitive position by investing in products that differentiate Betfair and by enhancing our marketing capabilities in a crowded market place.”

Smith also rose after losing a third of its value since March in a trend initiated by September’s sell-off. The company beat expectations in its first-half profits, and has said “the business continues to grow, despite ongoing economic headwinds in many of our markets”.

Crest Nicholson Holdings advanced after Deutsche Bank reiterated their hold rating on its shares in a research note distributed among investors on Thursday morning.

FTSE 250 - Risers
Betfair Group (BET) 1,475.00p +7.82%
Smith (DS) (SMDS) 303.40p +5.20%
Entertainment One Limited (ETO) 320.80p +4.12%
Bellway (BWY) 1,924.00p +3.44%
Rotork (ROR) 2,299.00p +3.28%
Victrex plc (VCT) 1,847.00p +3.13%
Crest Nicholson Holdings (CRST) 370.80p +3.09%
Redrow (RDW) 289.70p +3.06%
Barratt Developments (BDEV) 472.90p +3.05%
Fisher (James) & Sons (FSJ) 1,087.00p +2.94%

FTSE 250 - Fallers
Ferrexpo (FXPO) 62.95p -8.24%
EnQuest (ENQ) 45.65p -6.84%
De La Rue (DLAR) 514.50p -3.83%
Premier Oil (PMO) 192.30p -3.51%
Nostrum Oil & Gas (NOG) 589.00p -3.44%
Hunting (HTG) 556.00p -3.39%
Debenhams (DEB) 70.90p -3.14%
Intermediate Capital Group (ICP) 449.60p -2.75%
Supergroup (SGP) 858.50p -2.72%
Greencore Group (GNC) 289.20p -2.69%