FTSE 250 movers: Oil prices help producers and service providers surge

(ShareCast News) - The FTSE 250 was in the black by mid-afternoon on Friday, up 173.01 points (1.05%) to 16,572.08.Oil producers and service companies featured heavily on the risers, as oil prices continued to rebound.At 1527 GMT, West Texas Intermediate was up 1.64% to $33.62, while Brent crude rose 2.60% to $36.23. That helped Tullow Oil, Petrofac and Weir Group shares rise.Petrofac was also boosted after Jefferies upgraded the company to 'buy' from 'hold' on Thursday and lifted the price target to 855p from 745p.It said the company's 2015 results emphasised the return to Petrofac's original and still core business offering, Onshore E&C, in the Middle East.On Wednesday, the oilfield services provider said its annual profit had plunged due to delays in getting production up and running at its Laggan-Tormore plant and the costs associated with it.The company said it made a net profit of $9m (£6.4m), down from $581m in 2014.Jefferies noted the overall OEC backlog was confirmed as $12.5bn and said clarification that $4.6bn of that is for revenue execution in 2017 is better than it had expected.As a result, Jefferies upped its estimate for 2017 OEC revenue by 6% to $5.6bn.Countrywide rebounded somewhat was a poor set of results on Thursday, after the UK's largest estate agency group reported a 37% drop in 2015 profits, blaming a "significantly" tougher year for the market.The group's operating profit fell to £53.8m in the 12 months to 31 December 2015 from £84.9m a year earlier as the levels of home buying remained low across the country.Earnings before interest, tax, depreciation and amortisation fell 7% to £113m."A tougher sales market coupled with our significant change agenda challenged us in maintaining our share of sales outside of London," said chief executive Alison Platt.Pre-tax profits plunged 40% to £46.7m as the group handled 8% fewer sales transactions during the year. The company also had to contend with competition from digital rivals including Purplebricks, eMoov and HouseSimple. As a result Countrywide's average sales fee fell 3%.The number of house sales exchanged fell 8% to 67,402. Yet total income rose 4% to £733.7m.Kennedy Wilson Europe Real Estate also saw a jump in tis share price, after it reported a 15% jump in full year net asset value and a hike in the dividend thanks to good progress across all of the business.In the year to the end of December, adjusted net asset value rose to £1.6bn from £1.4bn in 2014 and the portfolio value rose to £2.8bn from £1.5bn following several acquisitions.Net profit after tax came in at £259m from £78.5m and adjusted earnings per share were 47.9p compared with 25.9p in 2014.Kennedy said it had made acquisitions of £1.14bn across 217 properties and two loan portfolios, delivering a yield on cost of 7.1%.It said its £300m disposal programme was on track, with £124.4m of sales completed across 35 properties at an average exit yield of 5.7%, generating a return on cost of 22.9%.FTSE 250 - RisersTullow Oil (TLW) 159.90p 8.19%International Personal Finance (IPF) 250.20p 7.20%Petrofac Ltd. (PFC) 869.00p 6.95%Amec Foster Wheeler (AMFW) 358.50p 6.51%Weir Group (WEIR) 932.00p 5.85%Aveva Group (AVV) 1,516.00p 5.57%Countrywide (CWD) 348.20p 5.45%Kennedy Wilson Europe Real Estate (KWE) 1,109.00p 5.02%Vedanta Resources (VED) 254.50p 4.91%Michael Page International (MPI) 376.20p 4.79%FTSE 250 - FallersDignity (DTY) 2,481.00p -2.55%Allied Minds (ALM) 316.80p -2.52%Rightmove (RMV) 3,830.00p -2.17%Genus (GNS) 1,447.00p -2.16%Pennon Group (PNN) 813.50p -1.39%Domino's Pizza Group (DOM) 1,041.00p -1.33%Indivior (INDV) 162.00p -1.28%Card Factory (CARD) 339.70p -1.25%Ladbrokes (LAD) 132.60p -1.19%NMC Health (NMC) 890.00p -1.11%