FTSE 250 movers: Vectura jumps but ex-divs hit Lancashire and Redefine
London’s FTSE 250 index was up 0.5% to 17,552.91 in afternoon trade.
Medical device group Vectura was the standout gainer as Numis highlighted a major overhaul of the Global Initiative for Chronic Obstructive Lung Disease treatment guidelines, with many changes in treatment recommendations.
It said the changes see a major upgrade in recommended use of long-acting beta agonists and long-acting muscarinic receptor antagonists combination inhalers such as Vectura/Novartis’ Ultibro, which are now preferred in three of the four COPD patient groups.
Infrastructure supply and galvanising services group Hill & Smith was a high riser after saying it expected to post full-year earnings at the top end of expectations, assisted by the slump in the pound after the Brexit vote.
Safestore was also in the black as the storage company said it expected full-year earnings to be at the top end of expectations after reporting an 18.4% rise in fourth-quarter revenue to £32.8m.
On the downside, Virgin Money slumped after US private equity firm WL Ross & Co sold its entire stake in the company.
The firm – which is owned by American billionaire Wilbur Ross – sold just under 53.6m shares in the company, or around 12% of the issued share capital at 320p per share, with gross proceeds of £171.5m.
Engineering consultancy WS Atkins slid after reporting a 14% rise in first-half underlying pre-tax profit but a drop in statutory profit, as it maintained its outlook for the year.
In the six months to the end of September, underlying pre-tax profit rose to £63.6m from £55.8m on revenue of £994.7m, up 10% from the previous year.
However, statutory pre-tax profit fell 58.4% to £22.4m due to a £18.5m impairment of goodwill and a £18.7m charge from amortisation and impairment of acquired intangibles.
Lancashire Holdings and Redefine International slumped as their stocks went ex-dividend.
Risers
Vectura Group (VEC) 140.70p 4.69%
Hill & Smith Holdings (HILS) 1,260.00p 4.13%
Safestore Holdings (SAFE) 358.00p 3.08%
Rightmove (RMV) 3,782.00p 3.02%
Hochschild Mining (HOC) 235.00p 2.75%
Daejan Holdings (DJAN) 5,630.00p 2.74%
Auto Trader Group (AUTO) 393.30p 2.42%
Debenhams (DEB) 57.35p 2.41%
Tullow Oil (TLW) 266.20p 2.35%
Petra Diamonds Ltd.(DI) (PDL) 155.00p 2.31%
Fallers
Lancashire Holdings Limited (LRE) 632.50p -10.03%
Virgin Money Holdings (UK) (VM.) 315.40p -6.82%
Softcat (SCT) 308.70p -5.16%
Redefine International (RDI) 37.36p -3.76%
Greencore Group (GNC) 309.40p -3.52%
Fisher (James) & Sons (FSJ) 1,542.00p -3.50%
Euromoney Institutional Investor (ERM) 1,001.00p -3.29%
Atkins (WS) (ATK) 1,606.00p -3.25%
TalkTalk Telecom Group (TALK) 184.10p -2.85%
Allied Minds (ALM) 344.90p -2.57%