FTSE 250 movers: Oxford Instruments surges; Cineworld recovers

London’s FTSE 250 was up 0.9% at 21,469.94 in afternoon trade on Friday.

Oxford Instruments surged to the top of the index after it said revenue is expected to be marginally ahead of last year.

Following the update, broker Shore Capital upgraded its revenue estimate by 7% to £317m and adjusted EBITA by 13% to £56m, implying an operating margin of 17.7%, up from its previous expectation of 16.8%.

Elsewhere, Micro Focus rallied after US-based VerifyMe said on Thursday that it had extended its agreement with the UK software company by three years.

Cineworld was on the front foot, recovering some ground having slumped on Thursday after saying it swung to a huge loss in 2020 due to the impact of the pandemic.

FTSE 250 - Risers

Oxford Instruments (OXIG) 2,010.00p 12.17%
Micro Focus International (MCRO) 522.60p 7.75%
Wood Group (John) (WG.) 288.40p 7.37%
Cineworld Group (CINE) 101.95p 7.32%
Ferrexpo (FXPO) 374.00p 6.61%
Morgan Sindall Group (MGNS) 1,774.00p 6.23%
FirstGroup (FGP) 92.55p 5.17%
Babcock International Group (BAB) 244.40p 3.60%
PZ Cussons (PZC) 274.00p 3.40%
Marks & Spencer Group (MKS) 152.95p 3.10%