FTSE 250 movers: Housebuilders and energy shares slump; Man Group bucks trend
London’s FTSE 250 index was down 0.5% to 16,915.80 in afternoon trade, with housebuilders and energy stocks under pressure.
Housebuilders were under the cosh amid worries about the impact of a possible Brexit and following a downbeat trading update on Thursday from Persimmon. The company reported a slowdown in growth and delays in planning permission for its development sites. It said forward sales since the beginning of the year were 8% ahead of the same time last year, but it marked an easing on the 12% increase recorded last year.
Meanwhile, energy-related stocks took a hit as oil prices slid, with Tullow Oil, Cairn Energy and Ophir Energy all in the red.
West Texas Intermediate was down 3.4% to $40.10 a barrel and Brent crude was down 3.3% to $42.36 as it emerged the Iranian oil minister will not attend this Sunday’s summit in Qatar. Instead, Iran’s OPEC governor will be present.
Man Group bucked the trend, rallying after its first quarter update revealed positive net inflows and a good performance at its AHL unit.
RBC Capital Markets said Man’s efforts to diversify its product range and broaden its distribution network have resulted in net inflows during a volatile and uncertain first quarter.
Risers
Evraz (EVR) 134.10p 6.26%
Man Group (EMG) 160.50p 5.94%
Indivior (INDV) 166.70p 5.37%
Restaurant Group (RTN) 374.70p 3.71%
Circassia Pharmaceuticals (CIR) 269.70p 3.33%
Acacia Mining (ACA) 312.30p 3.24%
IP Group (IPO) 167.00p 2.77%
St. Modwen Properties (SMP) 323.20p 2.44%
Kaz Minerals (KAZ) 171.90p 2.26%
Vectura Group (VEC) 176.70p 2.14%
Fallers
Tullow Oil (TLW) 210.00p -6.96%
McCarthy & Stone (MCS) 251.30p -5.88%
Grafton Group Units (GFTU) 681.00p -4.76%
Crest Nicholson Holdings (CRST) 478.00p -4.30%
Cairn Energy (CNE) 201.60p -3.95%
G4S (GFS) 189.00p -3.72%
Ophir Energy (OPHR) 73.80p -3.59%
Bellway (BWY) 2,284.00p -3.51%
Redrow (RDW) 362.70p -3.18%
Clarkson (CKN) 2,179.00p -3.16%