FTSE 250 movers: Capita surges on turnaround; Telecom Plus slumps
London's domestically-focused FTSE 250 index was up 1% to 19,876.25 in afternoon trade, boosted by a stronger pound.
Outsourcer Capita surged after it reported "good progress" on its restructuring and said the turnaround of IT Services was progressing better than expected, three months after its chief executive resigned and the outsourcing group was dumped out of the FTSE 100.
Kennedy Wilson Europe rallied after agreeing to a revised proposal for its merger with its investment manager, Kennedy Wilson Holdings. KWE and KWH announced a proposed all-share merger in April, valuing KWE at around £1.5bn.
Telecom Plus slumped as its full-year pre-tax profit came in below consensus expectations and the company said revenue fell 0.6% due to lower energy prices. It was also hit by a downgrade from Peel Hunt.
Risers
Capita (CPI) 637.00p 15.71%
Kennedy Wilson Europe Real Estate (KWE) 1,116.00p 8.35%
Sophos Group (SOPH) 443.50p 4.67%
Assura (AGR) 62.85p 4.49%
AO World (AO.) 128.50p 3.96%
Drax Group (DRX) 367.80p 3.49%
Intermediate Capital Group (ICP) 900.50p 3.39%
Aldermore Group (ALD) 229.80p 3.14%
Hunting (HTG) 514.00p 3.07%
Euromoney Institutional Investor (ERM) 1,162.00p 3.01%
Fallers
Telecom Plus (TEP) 1,232.00p -5.38%
Nostrum Oil & Gas (NOG) 494.60p -4.43%
Hochschild Mining (HOC) 287.20p -2.05%
Centamin (DI) (CEY) 172.60p -1.93%
Greencore Group (GNC) 238.30p -1.69%
Evraz (EVR) 192.40p -1.59%
AA (AA.) 219.90p -1.43%
CLS Holdings (CLI) 197.00p -1.25%
Petra Diamonds Ltd.(DI) (PDL) 122.80p -1.05%
Hill & Smith Holdings (HILS) 1,362.00p -1.02%