LONDON (ShareCast) - Ophir Energy said it has failed to encounter significant hydrocarbons at the Padouck Deep-1 well in the Ntsina block offshore Gabon. The well was drilled to 3,297 metres total vertical depth subsea (TVDSS) targeting the Cretaceous Gamba and Coniquet/Dentale sands in the pre-salt section.

British bookmakers Ladbrokes and William Hill tumbled after the government's new Budget included a 25p increase in duty on fixed-odds betting terminals (FOBTs). Ladbrokes has the greatest dependence on FOBTs, representing almost 40% of the company's earnings before interest and tax, compared with 26% for William Hill, according to calculations from analysts at Barclays.

Partnership Assurance fell after it said new business premiums fell in 2013 as customers booked products ahead of a string of regulatory reforms coming into force in 2012. The insurers said reforms to how financial products are sold in the UK and the start of gender neutral pricing towards the end of 2012 sparked a rush of new customers signing up to products in 2012.

Printing group Xaar continued to decline one day after it warned that growth was likely to be more modest in the current financial year. FinnCap downgraded the stock from 'buy' to 'hold' with a target price of 900p. Investec reduces target price from 1180p to 960p and retains an add rating.

Meanwhile, Imagination Technology rose strongly after announcing the launch of its new graphics processors to allow photo-realistic gaming on mobile devices, strengthening its offering in an area of key concern to analysts.

Rank Group was also a big riser after announcing three new bingo clubs in response to the Chancellor's Budget statement, which announced that bingo duty had been halved from 20% to 10%.


FTSE 250 - Risers
Imagination Technologies Group (IMG) 181.00p +10.23%
Victrex plc (VCT) 1,952.00p +5.86%
Rank Group (RNK) 152.20p +5.55%
Evraz (EVR) 63.50p +4.79%
Ocado Group (OCDO) 498.40p +4.42%
Fidessa Group (FDSA) 2,592.00p +4.05%
JD Sports Fashion (JD.) 1,586.00p +2.72%
Synthomer (SYNT) 278.40p +2.69%
Redrow (RDW) 330.40p +2.39%
SIG (SHI) 204.50p +2.35%

FTSE 250 - Fallers
Ophir Energy (OPHR) 250.00p -15.37%
Ladbrokes (LAD) 143.60p -9.69%
Partnership Assurance Group (PA.) 291.40p -8.71%
Moneysupermarket.com Group (MONY) 180.00p -3.74%
Lancashire Holdings Limited (LRE) 706.50p -3.42%
Xaar (XAR) 874.50p -3.37%
Millennium & Copthorne Hotels (MLC) 580.00p -3.33%
Go-Ahead Group (GOG) 1,988.00p -3.26%
Polymetal International (POLY) 615.50p -3.22%
Dairy Crest Group (DCG) 480.80p -2.87%

NR

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