FTSE 250 movers: SIG's outlook drives market down

22nd Oct 2015 13:37

(ShareCast News) - The FTSE plunged shortly after opening and by mid-afternoon sat at 16,936.86 points, down 99.82 (0.59%).SIG led the market down, dropping over 20% after it revealed it is expecting a fall in underlying pre-tax profit for the year due to challenging market conditions in mainland Europe. For the nine months to 30 September, the building products company's like-for-like sales were up 0.2%. In the UK and Ireland it was up 2%, but mainland Europe down was 1.7% compared to the same period last year. It now expects full-year underlying pre-tax profit to be between £85m and £90m, lower than 2014's £98.1m.Real Estate had a mixed bag as Foxtons said it remained on track to meet full-year expectations. However the London-focused real estate agency said transactions in central London remained low following recent strong price growth and stamp duty changes. "Any recovery of the property sales market [is expected] to be slow due to low current levels of stock," management said in a statement.On the other side of the ledger, Zoopla led the risers with a 6% jump in the share price. The online property portal forecasts 2015 revenue and adjusted EBITDA of around £107m and £48m respectively, up from £80.2m and £39.6m last year. Zoopla said the property services division has performed well, with UK agency membership continuing its return to growth.Ladbrokes also had a good day as its third-quarter results met forecasts with a strong start to the football season. It helped underlying group net revenue for the three months to the end of September to rise 2% at the underlying level, excluding the impact of the FIFA World Cup last year, which masked the 0.7% decline at the statutory level. It reflected the first activity since new chief executive Jim Mullen introduced his plans to invest and grow the recreational and multi-channel customer base particularly across UK retail, online and Ladbrokes Australia.And Debenhams rose on the back of growth in annual pre-tax profit thanks to solid progress made against its strategic targets. In the year to 29 August, the group saw pre-tax profit grow 7.3% year-on-year to £113.5m on the back of an improved stock-controlling strategy and on a drastic cut down on promotions, while revenue grew 0.4% to £2.32bn. the results allow chief executive Michael Sharp to go out on a high, after he announced his resignation from the company once they find a successor.FTSE 250 - RisersZoopla Property Group (WI) (ZPLA) 249.90p 6.66%Ladbrokes (LAD) 107.80p 6.63%Debenhams (DEB) 85.75p 5.67%Evraz (EVR) 87.25p 5.31%Kaz Minerals (KAZ) 122.70p 4.34%Nostrum Oil & Gas (NOG) 465.70p 3.65%Hunting (HTG) 406.70p 3.25%Riverstone Energy Limited (RSE) 869.00p 3.08%Electra Private Equity (ELTA) 3,540.00p 2.46%Ophir Energy (OPHR) 93.85p 2.46%FTSE 250 - FallersSIG (SHI) 136.60p -23.47%Foxtons Group (FOXT) 206.20p -6.91%Senior (SNR) 243.00p -6.90%Home Retail Group (HOME) 118.00p -6.35%Weir Group (WEIR) 1,025.00p -5.27%Howden Joinery Group (HWDN) 447.30p -4.85%Hays (HAS) 134.50p -4.00%Tullett Prebon (TLPR) 339.70p -3.85%Grafton Group Units (GFTU) 666.50p -3.48%Acacia Mining (ACA) 204.40p -3.45%