FTSE 250 movers: Ferrexpo bounces back, Polymetal loses its shine
(ShareCast News) - London's FTSE 250 index was up 0.7% to 19,427.28 in afternoon trade, outperforming its big brother as investors focus on domestic plays.
Swiss-based iron ore producer Ferrexpo put in the strongest performance, bouncing back from heavy losses in the previous session when Chinese iron ore prices fell to their lowest level in five months.
Kaz Minerals was boosted by an HSBC upgrade to 'hold' from 'reduce', while aerospace and defence company Cobham was trading higher as its £512.4m rights issue got underway.
Card Factory shares gained ground as Liberum upped its stance on the stock to 'buy' from 'hold' and lifted the target price to 345p from 275p, saying it sees significant scope for continued store roll-out over the longer term.
Dixons Carphone also benefited from the same Liberum note as it highlighted the company as one of its 'buy' rated stocks.
On the downside, Polymetal International lost its shine despite saying first quarter gold production increased following recent acquisitions and that it remains on track to deliver its production and cost targets for the full year.
Victrex was on the back foot as it announced that David Hummel plans to retire as chief executive at the end of March 2018 after 24 years at the company.
Jakob Sigurdsson, the former chief executive of global polymer manufacturer Promens, who has more than 20 years' experience in diverse multinational companies, will join the company on 1 September as chief executive-designate, following an extensive search process.
Ferrexpo (FXPO) 145.90p 6.34%
Cobham (COB) 127.50p 5.93%
Kaz Minerals (KAZ) 460.10p 5.36%
Dixons Carphone (DC.) 333.20p 4.22%
Virgin Money Holdings (UK) (VM.) 302.50p 3.92%
Travis Perkins (TPK) 1,606.00p 3.81%
Ibstock (IBST) 219.90p 3.73%
Aldermore Group (ALD) 231.80p 3.71%
Dunelm Group (DNLM) 622.50p 3.66%
Card Factory (CARD) 313.00p 3.54%
Essentra (ESNT) 499.10p -2.23%
Polymetal International (POLY) 1,046.00p -2.15%
Vectura Group (VEC) 148.40p -2.11%
Templeton Emerging Markets Inv Trust (TEM) 640.00p -2.07%
Redefine International (RDI) 37.61p -1.90%
Greencore Group (GNC) 245.30p -1.72%
Riverstone Energy Limited (RSE) 1,277.00p -1.69%
JPMorgan Indian Investment Trust (JII) 689.50p -1.57%
Acacia Mining (ACA) 457.50p -1.55%
Victrex plc (VCT) 1,878.00p -1.42%