FTSE 250 movers: Micro Focus surges on revenue guidance, oil stocks lower

As of 15:30 BST, the FTSE 250 was trading 46.7 points lower at 18,146 points

Software group Micro Focus gained after reiterating its guidance to treble annual revenues on the back of a strong finish to its financial year, helped by the first contribution from its merger with The Attachment Group.

Cineworld impressed with like-for-like revenue growth of 10.7% in its first quarter, with a stream of blockbuster films expected to deliver a strong box office year ahead.

Vedanta Resources was in the red despite UBS kicking off its coverage with a 'buy' rating, celebrating the miner's diversified business, with exposure to a variety of commodities and portfolio spanning India, southern Africa, Ireland and Australia.

Premier Oil and Tullow Oil were trading lower as Brent crude declined 0.7% to $65.07 a barrel. Tullow was also hit as analysts at JPMorgan Chase & Co trimmed their price target on the stock from 425p to 424p.

Evraz topped the fallers as it claimed one of its lenders is stalling a process to rescue the company from insolvency, as the bank refuses to cede control of a debtors’ book, according to Bloomberg.

Risers
Countrywide (CWD) 592.00p +2.78%
Ted Baker (TED) 2,906.00p +2.65%
Fidelity China Special Situations (FCSS) 177.60p +2.36%
Cable & Wireless Communications (CWC) 69.30p +2.36%
Alent (ALNT) 376.60p +2.28%
Keller Group (KLR) 1,019.00p +2.00%
Cineworld Group (CINE) 511.00p +2.00%
Just Eat (JE.) 464.90p +1.95%
Balfour Beatty (BBY) 259.30p +1.81%
Inchcape (INCH) 873.00p +1.69%

Fallers
Evraz (EVR) 173.70p -4.51%
Tullow Oil (TLW) 397.70p -4.15%
Premier Oil (PMO) 158.70p -3.70%
Synergy Health (SYR) 2,185.00p -3.66%
Investec (INVP) 627.00p -3.09%
Vedanta Resources (VED) 614.00p -2.92%
Polymetal International (POLY) 542.00p -2.87%
Fidessa Group (FDSA) 2,194.00p -2.83%
Brown (N.) Group (BWNG) 330.40p -2.82%
Acacia Mining (ACA) 291.30p -2.80%