FTSE 250 movers: Entertainment One jumps but challenger banks slump
London’s FTSE 250 was down 0.3% to 17,815.81 in afternoon trade.
Peppa Pig owner Entertainment One was the standout gainer after saying interim trading had met management’s expectations and that its full-year financial performance would meet its own forecasts.
Tullow Oil gushed higher as it said it has received confirmation from its lead insurers that there is a recoverable claim with respect to the group's corporate policy for Business Interruption insurance following damage to the Jubilee turret bearing earlier this year.
The news followed an announcement earlier this month that hull and machinery cover for the floating production, storage and offloading vessel on the Jubilee field offshore Ghana has been confirmed following the failure earlier this year of the turret bearing.
On the downside, challenger banks OneSavings, Shawbrook and Aldermore slumped amid broader worries about the financial sector following a tough week for Deutsche Bank.
The German lender tumbled again in early trade following reports late on Thursday that a number of key funds had withdrawn money from the bank, which is currently facing a $14bn fine from the US Department of Justice for mis-selling mortgage-backed securities.
However, shares in DB recovered somewhat following reports of a letter sent to the bank’s employees by chief executive John Cryan. He was understood to have said that recent media speculation that a group of hedge funds were reducing their exposure was “causing unjustified concerns” and that the bank has “strong fundamentals”.
Risers
Entertainment One Limited (ETO) 221.90p 4.13%
Tullow Oil (TLW) 247.90p 3.25%
Hunting (HTG) 460.50p 2.33%
Bovis Homes Group (BVS) 853.00p 2.03%
Domino's Pizza Group (DOM) 369.70p 1.82%
Amec Foster Wheeler (AMFW) 578.00p 1.67%
Petrofac Ltd. (PFC) 891.50p 1.36%
Inmarsat (ISAT) 704.50p 1.22%
Redrow (RDW) 395.20p 1.20%
Wood Group (John) (WG.) 764.50p 1.19%
Fallers
OneSavings Bank (OSB) 252.60p -4.17%
Shawbrook Group (SHAW) 230.70p -3.79%
Essentra (ESNT) 472.20p -3.67%
Riverstone Energy Limited (RSE) 1,130.00p -3.42%
Drax Group (DRX) 305.60p -3.41%
Evraz (EVR) 164.10p -3.19%
IP Group (IPO) 168.90p -2.88%
Electra Private Equity (ELTA) 4,326.00p -2.79%
Aldermore Group (ALD) 164.80p -2.77%
PayPoint (PAY) 1,020.00p -2.76%