FTSE 250 movers: Oil bounce and Drax retrofit news fire mid-caps

(ShareCast News) - After a strong start on Wednesday, the FTSE 250 lost momentum but by mid-afternoon was still in positive territory, helped by an oil price bounce.Lifted by a 40-point rise in crude oil, due to a strike in Brazil that is estimated to have put a 25% dent into Brazilian production, North Sea and Asia -focused producer Premier Oil topped the mid cap leaderboard, with explorer Ophir Energy also lifted.Petrofac, Amec Foster Wheeler, Weir and Hunting and Wood Group, all of which provide services to the oil and gas sector, were also lifted by the rising oil tide.Drax, the Yorkshire coal power station operator, was fired up by news that the UK Department for Energy and Climate Change has proposed adding retrofit carbon capture and storage (CCS) projects to its contracts-for-difference program, meaning CCS projects to qualify for the contracts whether they are for new or existing power plants.As the CCS were only previously offered on new power plants, the new proposal announced for consultation on Wednesday could provide a lifeline for existing coal-fired power plants such as Drax.Among the losers, estate agency group Countrywide led the retreat on the back of its warning that full year profits will be lower than last year's due to the absence of an expected recovery in numbers of housing transactions, exacerbated by a lack of houses for sale. The FTSE 250 group now expects full year estate agency volumes to decline 5%, which is greater than the previous expectation of a 2% decline. Sector-mate Foxtons and housebuilder Crest Nicholson also subsided on the news.A cautionary update also took the fizz out of JD Wetherspoon, as the pub chain said its operating margin seeped lower in the first 13 weeks of the new financial year and warned that increased labour costs could dent annual profits. After founder and chairman Tim Martin said he intended to open fewer new pubs over the next months, analysts at broker Shore Capital said: "The continued curtailment of the opening program to around 15 pubs this year should free up further cash flow for buybacks although the balance sheet is starting to look a little stretched."TalkTalk was hit by a note from Citi, where analysts made substantial changes to their estimates and its target price to 260p after the October hacking incident and evidence from BT of weak customer momentum in the quarter. "At its interim results on 11 November we expect the company to suspend its guidance, skip its interim dividend and provide an update on the impact on customer orders and churn from the adverse publicity, arising from the hacking incident." Citi cut its dividend 70% for the current year and 50% in the years ending in 2017 and 2018.Budget airline Wizz Air descended despite posting an increase in interim profit, driven higher by an increase in the number of passengers it carried in the period. In the six months to 30 September, the carrier's profits increased 16% on revenue up 15% and 21% jump in the number of passengers. The Central and Eastern Europe-focused airline added it will increase capacity by 18% in the full year, although it warned a downward trend in unit revenues will continue in the second six months of the year as lower fuel prices feed through to cheaper air fares.FTSE 250 - RisersPremier Oil (PMO) 92.00p 13.02%Drax Group (DRX) 283.00p 6.67%Petrofac Ltd. (PFC) 897.50p 6.59%Amec Foster Wheeler (AMFW) 764.50p 5.38%Weir Group (WEIR) 1,190.00p 4.66%Hunting (HTG) 383.60p 4.47%Wood Group (John) (WG.) 633.00p 4.28%Ocado Group (OCDO) 399.90p 3.98%Electrocomponents (ECM) 220.60p 3.57%Ophir Energy (OPHR) 105.50p 3.33%FTSE 250 - FallersCountrywide (CWD) 413.70p -11.03%Wetherspoon (J.D.) (JDW) 723.00p -6.83%TalkTalk Telecom Group (TALK) 237.70p -6.67%Wizz Air Holdings (WIZZ) 1,827.00p -5.39%Foxtons Group (FOXT) 190.40p -4.80%International Personal Finance (IPF) 369.20p -3.38%Enterprise Inns (ETI) 102.90p -3.02%Cineworld Group (CINE) 538.00p -2.89%Keller Group (KLR) 850.50p -2.80%Crest Nicholson Holdings (CRST) 519.50p -2.72%