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FTSE 250 movers: Oil stocks gain momentum as crude prices rebound

Fri, 17th Oct 2014 15:40

A continued rebound in crude prices on Friday saw firms in the oil services sector rise after the price of the commodity collapsed over the past few weeks. Ophir and Enquest were both strong risers.Fears about an oversupply of oil saw West Texas Intermediate (WTI) crude drop below $80 a barrel this week, while Brent futures sank to four-year low of $83.78 a barrel. Oil services stocks have sunk sharply as of late on concerns that depressed oil prices may prompt producers to scale back their project spend.Synthomer shares climbed after one of its directors, Malaysian plantation magnate Dato' Lee Hau Hian, this week purchased a total of 507,000 shares, helping the group's share price recover from a 12-month low in the wake of recent mixed interim results.Jefferies International dragged Moneysupermarket.com into the red after cutting its rating to 'hold' from 'buy' and its target price from 248p to 200p.Gaming giant Bwin.party retreated from Thursday's strong gains after it reported a 2% rise in third quarter revenue to €148.7m. Sports betting revenue advanced 11% to €58.8m, driven by higher margins, the World Cup and growth in the number of people using their mobile phones to gamble. FTSE 250 - RisersOphir Energy (OPHR) 192.80p +5.88%Thomas Cook Group (TCG) 108.80p +5.53%Synthomer (SYNT) 200.10p +5.26%Just Eat (JE.) 268.00p +5.06%Cairn Energy (CNE) 162.80p +5.03%EnQuest (ENQ) 76.35p +5.02%Man Group (EMG) 117.30p +5.01%Aveva Group (AVV) 1,469.00p +4.78%Oxford Instruments (OXIG) 1,028.00p +4.74%IP Group (IPO) 193.60p +4.31%FTSE 250 - FallersCentamin (DI) (CEY) 56.35p -2.76%Brown (N.) Group (BWNG) 301.30p -2.18%Moneysupermarket.com Group (MONY) 181.80p -1.89%JD Sports Fashion (JD.) 416.10p -1.77%Rightmove (RMV) 2,030.00p -1.74%Micro Focus International (MCRO) 984.50p -1.50%Synergy Health (SYR) 1,749.00p -1.46%Bwin.party Digital Entertainment (BPTY) 87.00p -1.25%Domino Printing Sciences (DNO) 578.50p -1.20%AO World (AO.) 176.70p -1.12%

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