FTSE 250 movers: Aggreko and Lonmin lead stocks lower

24th Jul 2015 15:41

(ShareCast News) - The FTSE 250 was in the red as investors digested disappointing trading updates from the likes of Aggreko and Lonmin.Aggreko was the top faller after the temporary power provider said its interim and full-year results are likely to miss market expectations due to ongoing security challenges in Yemen, and a further slowdown in its North American oil and gas related business.The company now expects full-year pre-tax profit to be between £250m and £270m at current exchange rates, which have moved adversely in recent months, compared with market expectations of around £290m.Lonmin was lower as the platinum producer said third quarter operations were held back by an increase of safety stoppages as the number of injuries rose.The group has closed its Hossy and Newsman shafts following an increase in injuries and a fatality, which is expected to reduce normalised annual production over the next two fiscal years by 100,000 platinum ounces.Lonmin is also reviewing the appropriate capital structure for the company as it considers refinancing debt facilities amid weaker prices.Ladbrokes was also on the downside as it announced it had agreed a £2.3bn merger with Gala Coral, and outlined a new three-year plan which will dent its 2015 operating profit.The company said its 2015 operating profit will be around £20m lower than it previously expected as it launches a three-year marketing-led plan to aggressively grow its UK Digital recreational sportsbetting customer base through and increase its UK Retail footfall.On the upside, Beazley jumped after the insurance company posted a 16.3% rise in first half net profit and increased its interim dividend to 3.3p from 3.1p.Beazley said growth was driven by its locally underwritten US businesses in which managed premiums rose to $296.9m from $238.2m. FTSE 250 - RisersBeazley (BEZ) 337.30p +5.24%Shawbrook Group (SHAW) 336.20p +4.57%Domino's Pizza Group (DOM) 826.00p +3.25%CSR (CSR) 897.50p +3.16%Howden Joinery Group (HWDN) 488.90p +2.97%Just Eat (JE.) 451.00p +2.80%Playtech (PTEC) 929.50p +2.59%Telecom Plus (TEP) 1,139.00p +2.34%Auto Trader Group (AUTO) 329.90p +2.29%Cairn Energy (CNE) 167.30p +2.01% FTSE 250 - FallersAggreko (AGK) 1,251.00p -12.52%Lonmin (LMI) 66.30p -12.19%Ladbrokes (LAD) 123.50p -3.74%Barr (A.G.) (BAG) 611.50p -3.40%AO World (AO.) 125.00p -3.10%Redefine International (RDI) 53.50p -2.64%B&M European Value Retail S.A. (DI) (BME) 344.30p -2.41%William Hill (WMH) 394.70p -2.40%Ocado Group (OCDO) 413.20p -2.36%Home Retail Group (HOME) 166.00p -2.01%