FTSE 250 movers: IG Group climbs, Dunelm drops

London’s FTSE 250 was 0.15% higher at 20,083.88 in afternoon trade on Thursday, with IG Group leading the index higher.

Shares of the online trading platform surged as it reported flat first-quarter revenues, saying that it performed well and backed its expectations for a return to revenue growth in FY20.

Analysts at Shore Capital said: “Despite the Q1 revenue run rate tracking marginally ahead of our FY20 revenue forecast (and consensus), which for a seasonally slower quarter we regard as a robust performance, at this stage in the current year ending May 2020 we are not likely to change our forecasts though see the risk is, on balance, to the upside.”

Fellow online trading services provider Plus500 followed its contemporary higher.

Wood Group was also on the way upward after analysts at Credit Suisse hiked the oilfield services provider’s rating from ‘neutral’ to ‘outperform’.

Down at the other end of the index, Dunelm, Sophos, Crest Nicholson and BCA Marketplace were all among the top fallers as their stock went ex-dividend.

Dechra Pharmaceuticals was also lower after two directors sold a total of 220,000 shares in the company between them.

Finally, Sports Direct dropped after a legal challenge it had financially backed against Debenhams‘ compulsory voluntary arrangement (CVA) was rejected by the High Court on four of the five grounds addressed.

Market Movers

FTSE 250 (MCX) 20,083.88 0.15%