FTSE 250 movers: Mining stocks fall as gold and oil prices drop

Energy and mining stocks were in decline on Friday after a drop in oil prices for January delivery from Saudi Arabia and a fall in gold futures.

Enquest was once again among the fallers on Friday amid low oil prices. Acacia Mining, Kaz Minerals, Lonmin Vedanta Resources and Blackrock World Mining Trust also dropped. According to CMC Markets market analyst Jasper Lawler, this “will likely be followed by other OPEC nations following suit alongside a strengthening dollar.” The result is that oil is now back trading close to record-breaking lows heading towards the $60 WTI forecast by several oil ministers. As well, on Friday Saudi Arabia increased the discount on its oil which it offers to Asian buyers.

Meanwhile, Balfour Beatty made it to the top of the risers list as the John Laing Infrastructure Fund claimed to be disappointed that the firm’s board decided against holding discussions about its PPP Portfolio. Balfour Beatty also had its buy rating reissued by Liberum Capital on Friday.

Supergroup rose after the nation’s Black Friday shopping splurge, which resulted in a week of stock rating upgrades.

Howden Joinery Group increased after its neutral rating was reissued by Citigroup analysts while Berkeley Group Holdings had its hold rating reaffirmed by both Liberum Capital and Deutsche Bank.

FTSE 250 - Risers
Balfour Beatty (BBY) 196.40p +6.33%
Supergroup (SGP) 920.00p +5.93%
Booker Group (BOK) 149.20p +4.55%
Howden Joinery Group (HWDN) 405.80p +3.86%
Berkeley Group Holdings (The) (BKG) 2,598.00p +3.71%
Bodycote (BOY) 639.00p +3.57%
Interserve (IRV) 594.50p +3.39%
Go-Ahead Group (GOG) 2,630.00p +3.14%
Ferrexpo (FXPO) 64.90p +3.10%
Spire Healthcare Group (SPI) 336.80p +2.93%

FTSE 250 - Fallers
Bank of Georgia Holdings (BGEO) 2,094.00p -5.93%
COLT Group SA (COLT) 133.20p -2.92%
Acacia Mining (ACA) 238.20p -2.82%
Amec Foster Wheeler (AMFW) 876.00p -2.18%
Lonmin (LMI) 179.20p -2.08%
Kaz Minerals (KAZ) 245.30p -1.92%
EnQuest (ENQ) 44.98p -1.68%
UBM (UBM) 458.80p -1.57%
Vedanta Resources (VED) 679.00p -1.38%
BlackRock World Mining Trust (BRWM) 328.90p -1.29%