FTSE 250 movers: Essar rises as subsidiary makes progress

30th Mar 2012 15:43

Essar Energy was a big riser after it said that its subsidiary Essar Oil has made significant progress with its lenders towards exiting the current loan agreement, which relates to the corporate debt restructuring scheme and its Vadinar oil refinery in Gujarat. Miners were also on the rise as they recovered from their recent underperformance, with Ferrexpo, Centamin and Talvivaara gaining at least 3% each. QinetiQ was in demand after revealing that it is to get a one-off payment of £65m from the Ministry of Defence (MoD) after the two parties signed an agreement releasing the MoD from accumulated costs incurred in previous years. Jupiter Fund Management topped the list though after appointing a new executive director for distribution and strategy. FirstGroup continued to fall following yesterday's profit warning in which the bus company said the operating margin for the next financial year would be 8%, as opposed to the market expectation of 12%. FTSE 250 - RisersJupiter Fund Management (JUP) 248.50p +7.62%Afren (AFR) 133.90p +5.35%Essar Energy (ESSR) 154.40p +5.18%Micro Focus International (MCRO) 473.50p +4.97%Brewin Dolphin Holdings (BRW) 173.50p +4.96%Diploma (DPLM) 439.50p +4.49%QinetiQ Group (QQ.) 156.20p +4.34%Kentz Corporation Ltd. (KENZ) 472.50p +4.30%JD Sports Fashion (JD.) 804.50p +3.81%Rotork (ROR) 2,027.00p +3.68%FTSE 250 - FallersPetropavlovsk (POG) 554.00p -5.30%FirstGroup (FGP) 239.40p -3.23%Cape (CIU) 411.90p -2.74%Carpetright (CPR) 683.50p -2.36%Savills (SVS) 371.40p -2.26%Ocado Group (OCDO) 114.40p -1.97%Petra Diamonds Ltd.(DI) (PDL) 174.20p -1.80%Perform Group (PER) 304.50p -1.77%CSR (CSR) 230.20p -1.75%COLT Group SA (COLT) 104.10p -1.70%NR