FTSE 250 movers: Acacia leads the way as markets pull back on North Korea tensions
(ShareCast News) - The FTSE 250 was down 0.47% in afternoon trading against a backdrop of heightened geopolitical tensions caused by rising antagonism between the US and North Korea.
Unsurprisingly, Acacia Mining led the movers on London's second-tier index, bucking the miner trend which saw most of its competitors fall, thanks to rising silver and gold prices on the back of the news out of Asia.
Building materials company SIG followed close behind after reporting its first-half results the day before, putting in a solid performance that saw revenues head 8.6% higher for the period.
Pets at Home was being buoyed by follow-through buying after impressive results earlier in the week to make up the podium in afternoon trading, helped by a target price upgrade out of Beaufort Securities.
Analysts at HSBC also had a kind word for Pets at Home, upgrading their recommendation on the stock to a 'buy' and their target from 180p to 210p.
On the other end of the scale, bookmakers Ladbrokes Coral was bringing up the rear on the back of selling by some of its top investors, traders told Digital Look.
Close behind was Essentra. The packaging firm was downgraded to 'hold' by Numis earlier in the day on concerns over the over-complication of its portfolio.
Markets calmed in the afternoon following the morning risk-off, according to IG analyst Josh Mahony.
"While the stock sell-off seen this morning has calmed down somewhat, we are seeing safe havens continue to gain favour as markets monitor the growing tensions surrounding North Korea," Mahony said.
FTSE 250 - Risers
Acacia Mining (ACA) 190.20p 7.88%
SIG (SHI) 177.70p 7.37%
Pets at Home Group (PETS) 193.70p 6.37%
Petra Diamonds Ltd.(DI) (PDL) 99.35p 5.36%
Hochschild Mining (HOC) 328.70p 4.88%
Spirax-Sarco Engineering (SPX) 5,790.00p 3.86%
Polymetal International (POLY) 936.00p 3.48%
Senior (SNR) 271.90p 2.88%
TBC Bank Group (TBCG) 1,666.00p 2.21%
Galliford Try (GFRD) 1,354.00p 1.88%
FTSE 250 - Fallers
Ladbrokes Coral Group (LCL) 120.80p -5.70%
Essentra (ESNT) 525.50p -4.71%
Riverstone Energy Limited (RSE) 1,310.00p -3.03%
Sanne Group (SNN) 728.00p -2.93%
Clarkson (CKN) 2,583.00p -2.79%
Hikma Pharmaceuticals (HIK) 1,302.00p -2.69%
RPC Group (RPC) 871.50p -2.52%
Elementis (ELM) 281.30p -2.29%
Tullow Oil (TLW) 174.70p -2.24%
Northgate (NTG) 442.10p -2.23%