FTSE 250 movers: BTG makes strong gains after FDA approval

26th Nov 2013 13:30

Healthcare company BTG was in the top spot after revealing it has received approval from the US Food and Drug Administration for its Varithena treatment. Varithena, which previously went under the name of Varisolve, is used to treat varicose veins, which can cause a range of unpleasant and painful symptoms. De La Rue was also higher after broker Investec upgraded the stock from 'hold' to 'buy' following recent weakness in the share price with the stock offering a five per cent dividend yield. The group released its interim results today, although Investec said they didn't offer any surprises, with a 5% decline in revenue and a 19% jump in operating profits following improved cost savings. Also on the up was pub company Mitchells & Butlers, which enjoyed strong annual earnings growth thanks to higher sales, improved operating margins and lower interest charges. Profit before tax rose 14% to £184m, which was ahead of the consensus analyst forecast of £180m.Meanwhile, telecoms group KCOM headed the other way after it posted a 5.4% decline in first-half profit, as it pumped money into its infrastructure and broadband fibre deployment services. Pre-tax profit fell to £25.8m for the half year ended September 30th from £26.2m, while revenue slipped to £185.5m from £188.7m the same time a year earlier. Premier Oil failed to impress with its offer of a 5% retail bond, which it has launched to raise funds for the development of existing reserves and the discovery of new ones. FTSE 250 - RisersBTG (BTG) 518.00p +12.88%De La Rue (DLAR) 907.00p +8.36%Spirent Communications (SPT) 107.80p +6.94%Mitchells & Butlers (MAB) 414.80p +6.09%Homeserve (HSV) 261.00p +5.80%Imagination Technologies Group (IMG) 249.90p +4.12%Moneysupermarket.com Group (MONY) 179.50p +3.76%Computacenter (CCC) 635.00p +3.25%Interserve (IRV) 654.50p +3.07%Supergroup (SGP) 1,200.00p +3.00%FTSE 250 - FallersIP Group (IPO) 172.00p -4.44%Perform Group (PER) 445.20p -3.64%Intermediate Capital Group (ICP) 427.30p -3.59%Genus (GNS) 1,195.00p -3.24%KCOM Group (KCOM) 102.00p -2.86%Essar Energy (ESSR) 84.95p -2.75%Premier Oil (PMO) 304.60p -2.68%Kazakhmys (KAZ) 233.20p -2.02%Afren (AFR) 158.80p -1.98%PZ Cussons (PZC) 372.80p -1.87%NR