FTSE 250 movers: Morgan Crucible update fails to impress

19th Nov 2009 13:25

A cheery trading update from Morgan Crucible has failed to please the market and the firm's shares are the worst-performing in the FTSE 250.Materials company Morgan Crucible said that demand for its products has stabilised after a soft summer and expects its performance over the second half of the year to be in line with expectations.The firm, which makes components for planes and heat insulation products, said it has also been benefitting from cost reduction measures, which should help offset lower revenues.Shares in Regus come back after the outsourced workplaces provider reported a 9.5% drop in revenues and said it remains cautious in its outlook for 2010.Turning to the risers, water firm Pennon Group reported a 13% rise in half year pre-tax profit and said its businesses are 'well positioned in the current economic slowdown.' Northumbrian Water rises in sympathy.FTSE 250 - RisersHeritage Oil (HOIL) 485.60p +3.76%IG Group Holdings (IGG) 333.90p +2.93%Synergy Healthcare (SYR) 649.00p +2.69%Pennon Group (PNN) 493.00p +2.67%Northumbrian Water Group (NWG) 249.30p +2.59%Melrose (MRO) 189.10p +2.44%Hikma Pharmaceuticals (HIK) 509.00p +2.41%SSL International (SSL) 682.50p +2.40%Euromoney Institutional Investor (ERM) 410.90p +2.01%Stobart Group (STOB) 125.90p +1.86%FTSE 250 - FallersMorgan Crucible (MGCR) 165.00p -7.51%CSR (CSR) 436.90p -6.14%Regus (RGU) 97.85p -5.46%Aegis Group (AGS) 110.70p -4.57%Chaucer Holdings (CHU) 46.85p -4.54%Enterprise Inns (ETI) 119.30p -4.48%Dimension Data Holdings (DDT) 78.90p -4.36%SIG (SHI) 120.80p -4.35%United Business Media (UBM) 461.10p -4.26%Daejan Holdings (DJAN) 2,923.00p -4.16%