FTSE 250 movers: Petra Diamonds dips on revenue warning, miners lower
Mid-caps were firmly in the red on Friday afternoon, dragged lower by the mining, property and insurance sectors.
As of 15:15 BST, the FTSE 250 was trading 0.85% lower at 17,936.
Shares in Petra Diamonds slumped 9% after the company said that full-year revenues are likely to be lower than expected due to reduced prices for diamonds. Petra said it now expects to report revenue of $430m, which is below market expectations of about $450m.
Gambling outfit Bwin.party also dropped around 9% after two of its largest shareholders, Emerald Bay and Stinson Ridge, sold 50m shares. Bwin’s board was not party to the placing arrangements, but the company said they were consistent with the trustees’ obligations to sell down their holdings before the end of October 2015.
Oil and gas stocks were mostly lower, including Soco International, as Brent crude slipped on Saudi Arabia'a announcement it was ready to increase output if necessary, exacerbating oversupply concerns.
Miners Evraz and Lonmin were also in the red, as metal prices dipped on fears that the economy of top commodities consumer China may be slowing, following recent disappointing data.
Synergy Health was trading higher after analysts at N+1 Singer raised upgraded stance on the stock from 'hold' to 'buy'.
Risers
Ted Baker (TED) 2,868.00p +1.88%
Daejan Holdings (DJAN) 5,685.00p +1.43%
Jimmy Choo (CHOO) 167.20p +1.39%
Home Retail Group (HOME) 166.40p +1.22%
Telecom Plus (TEP) 827.00p +1.10%
Euromoney Institutional Investor (ERM) 1,172.00p +0.95%
Indivior (INDV) 235.10p +0.90%
Electra Private Equity (ELTA) 3,220.00p +0.85%
Moneysupermarket.com Group (MONY) 283.10p +0.78%
BlackRock World Mining Trust (BRWM) 304.50p +0.76%
Fallers
Petra Diamonds Ltd.(DI) (PDL) 157.60p -7.51%
Bwin.party Digital Entertainment (BPTY) 97.15p -7.48%
Evraz (EVR) 151.40p -5.49%
Card Factory (CARD) 347.50p -5.31%
Lonmin (LMI) 132.80p -4.94%
Ophir Energy (OPHR) 121.40p -4.48%
Serco Group (SRP) 125.00p -3.47%
Bodycote (BOY) 740.00p -3.27%
Soco International (SIA) 178.20p -3.15%
Tullow Oil (TLW) 379.40p -2.67%