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FTSE 250 movers: IP Group drops, PureTech climbs

By Duncan Ferris

Date: Thursday 12 Sep 2019

FTSE 250 movers: IP Group drops, PureTech climbs

(Sharecast News) - London's FTSE 250 was down by 0.26% to 19,929.91 in afternoon trading on Thursday, with IP Group leading the index lower.

IP Group topped the fallers two days after the intellectual property business reported a drop in first-half net asset value amid "challenging" conditions for the sector.

Premier Oil, Tullow Oil, Wood Group, Energean and Vivo Energy were all lower as Brent crude oil futures slipped by almost 1.3% after a report from the International Energy Agency showed non-OPEC production was on the rise.

Energean was also hamstrung as it cut its full-year production guidance and said it swung to an interim loss with rising costs more than offsetting a jump in revenue.

Up at the other end of the index, PureTech Health led the risers, with Hochschild Mining following close behind after analysts at JPMorgan raised the stock's price target from 175.0p to 205.0p ahead of the release of its interim results next week.

Finally, Sports Direct also inched upwards after owner Mike Ashley was re-elected to the sportswear retailers board but said the numerous rebel shareholders who had voted against him "had a point".

"The last three months can't have been very comfortable for them - you've got a £600m Belgian tax investigation, you've got accountants not seeking re-election - that's a little bit too much for most shareholders to take," Ashley said to Sky News.

Market Movers

FTSE 250 (MCX) 19,929.91 -0.26%

FTSE 250 - Risers

PureTech Health (PRTC) 281.00p 3.31%
Sirius Minerals (SXX) 10.95p 3.30%
Hochschild Mining (HOC) 211.40p 3.12%
Woodford Patient Capital Trust (WPCT) 46.45p 3.11%
Dechra Pharmaceuticals (DPH) 2,886.00p 2.85%
Acacia Mining (ACA) 247.20p 2.57%
Spirent Communications (SPT) 194.80p 2.42%
Telecom Plus (TEP) 1,172.00p 2.27%
Stagecoach Group (SGC) 131.70p 2.25%
Sports Direct International (SPD) 270.60p 2.19%

FTSE 250 - Fallers

IP Group (IPO) 62.10p -6.19%
Intu Properties (INTU) 42.98p -6.12%
Premier Oil (PMO) 83.32p -5.75%
Tullow Oil (TLW) 216.00p -5.43%
Hammerson (HMSO) 258.30p -5.07%
Aston Martin Lagonda Global Holdings (AML) 562.20p -4.84%
Wood Group (John) (WG.) 410.60p -4.36%
Energean Oil & Gas (ENOG) 953.00p -4.32%
Centamin (DI) (CEY) 130.10p -3.49%
Vivo Energy (VVO) 122.80p -3.00%


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