FTSE 250 movers: Miners shine as Sophos tanks on stalling revenue
London's FTSE 250 was up 0.36% at 19,112.70 in afternoon trade on Wednesday, as gold prices sent precious metal miners higher.
Precious metals miners Hochschild and Centamin made gains as gold prices rose on the back of a softer dollar.
Meanwhile, Mediclinic, Investec and Intermediate Capital posted strong gains ahead of the release of their respective half-year results next Thursday.
Low cost European airline Wizz Air rose along with other airline stocks even as it cut its full-year profit forecasts to €270m- €300m from a previous forecast of €310m-€340m, a move it blamed on "unprecedented" disruptions, higher fuel prices, air traffic control strikes and congested airports.
Analysts at RBC Capital Markets, which rates the stock at 'outperform', said the Hungarian outfit's shares could double by 2021 and were therefore "worth wading into a short-term adverse momentum current".
Security software group Sophos tumbled as its first-half revenues fell short of analysts' expectations and the company warned on billings and future growth.
Shore Capital reiterated its 'buy' rating on the stock, reasoning that the results were "broadly in line" but conceding that the second-half billings recovery was "more modest than expected".
Security services firm G4S also suffered heavy losses after a disappointing trading statement, with organic growth for the third quarter coming in at 2.5% versus expectations of around 4.5%.
Pub group JD Wetherspoon slumped after warning that rising wage costs will hit full year profits and William Hill continued to fall after the bookmaker warned on Tuesday that 2018 profit would be down on last year.
Finally, housebuilder Redrow fell after it said that current executive chairman Steve Morgan, who founded the company in 1974 with £5,000 borrowed from his father, will step down at the end of March. The company also said that sales in London have been "subdued" due to high stamp duty and Brexit fears.
For the first 18 weeks of the company's financial year, the sales rate per outlet per week was 0.64, down from with 0.67 on-year, a drop which Morgan cited as "entirely due to the London market".
FTSE 250 - Risers
Mediclinic International (MDC) 383.70p 4.27%
UDG Healthcare Public Limited Company (UDG) 668.00p 3.81%
Hochschild Mining (HOC) 167.04p 3.75%
Intermediate Capital Group (ICP) 950.50p 3.71%
Wizz Air Holdings (WIZZ) 2,760.00p 3.49%
Centamin (DI) (CEY) 95.34p 3.41%
Ultra Electronics Holdings (ULE) 1,432.00p 3.32%
Investec (INVP) 510.00p 3.28%
AA (AA.) 108.95p 3.12%
Cairn Energy (CNE) 207.20p 3.08%
FTSE 250 - Fallers
Sophos Group (SOPH) 328.80p -27.99%
G4S (GFS) 184.26p -14.85%
Wetherspoon (J.D.) (JDW) 1,162.00p -11.37%
Contour Global (GLO) 172.50p -6.86%
William Hill (WMH) 193.30p -3.69%
Redrow (RDW) 546.00p -3.36%
Aveva Group (AVV) 2,538.00p -3.20%
Sports Direct International (SPD) 313.40p -3.03%
Entertainment One Limited (ETO) 404.30p -2.91%
NewRiver REIT (NRR) 243.35p -2.66%