FTSE 250 movers: IG Group buffeted by currency headwinds, miners rebound

21st Jul 2015 14:07

(ShareCast News) - Mid-caps were subdued on Tuesday as strong performances from oil, insurance and technology stocks were offset by losses in the telecommunications, utilities and construction sectors.As of 14:30 BST, the FTSE 250 was trading flat at 17,790.IG Group topped the fallers after reporting lower full-year earnings as a result of a turbulent January for the Swiss franc. For the year ended 31 May, pre-tax profit was down to £169.5m from 194.9m last year.PZ Cussons dipped as revenues and profits were dragged down by the major currency devaluation in Nigeria, its largest business base. The challenges are expected to continue in 2016, the company warned, as further weakening in exchange rates in the west African country, Australia and Indonesia affects margins as well as disposable consumer income.Housebuilding and construction group Galliford Try inched lower despite signing contracts with Birmingham City University to build the £46m Conservatoire in central Birmingham. The new landmark building, designed by Feilden Clegg Bradley Studios, will move the Conservatoire from its existing home to the Eastside area of the city centre. The facility will house teaching facilities and a 500-seat auditorium as well as two additional performance spaces.Appliance maker AO World led the risers following a pre-AGM update where the company said its first quarter growth would be on track to deliver in line with expectations.The appliance firm said it had a strong start to trading in July and was encouraged by an increase in housing transactions and disposable income.Croda International advanced as it posted an encouraging first-half, with the recovery in underlying sales trends that began in the second half of last year continuing, as it posted a 7.3% jump in pre-tax profit. For the six months ended 30 June, adjusted pre-tax profit came in at £135.7m up from £125.3m last year. Sales were up 5.2% at £564.6m from £537.4m, reflecting growth in all sectors and all regions, particularly the Life Sciences division.Miners Centamin and Kaz Minerals rebounded from Monday's declines, as precious metals prices recovered from China's 'flash crash'. RisersAO World (AO.) 129.20p +7.94%NMC Health (NMC) 876.00p +6.18%Croda International (CRDA) 2,902.00p +3.83%Wood Group (John) (WG.) 609.50p +2.96%IP Group (IPO) 208.20p +2.81%Petrofac Ltd. (PFC) 876.50p +2.75%Centamin (DI) (CEY) 55.00p +2.61%Premier Oil (PMO) 140.30p +2.26%Virgin Money Holdings (UK) (VM.) 407.80p +2.15%Brown (N.) Group (BWNG) 345.20p +1.95%FallersIG Group Holdings (IGG) 768.00p -4.83%Mitchells & Butlers (MAB) 384.80p -4.16%Lonmin (LMI) 75.60p -2.64%Berkeley Group Holdings (The) (BKG) 3,228.00p -1.85%Enterprise Inns (ETI) 123.10p -1.68%PZ Cussons (PZC) 354.10p -1.64%SIG (SHI) 203.50p -1.60%Smith (DS) (SMDS) 398.80p -1.46%Just Eat (JE.) 443.40p -1.44%Marston's (MARS) 155.40p -1.33%