FTSE 250 movers: Berendsen and gold miners lead retreat

London's mid cap shares were mostly lower as the weekend closed in, as a mixture of softer UK macroeconomic data, individual company troubles and a softer gold price all weighed.

The FTSE 250 index was down 0.33% to just under 18,888 almost half an hour before the close on Friday.

Berendsen was the biggest faller as the commercial laundry operator posted a rise in full-year profit and revenue but was more cautious on the outlook as continues to be affected by legacy issues. The company guided to 2017 adjusted operating profit of £150m, which is 12% below consensus of £170m, and said results are expected to be more second half weighted than previously due to the legacy issues in the UK.

A weaker gold price, amid seeming lower geopolitical risk and in the face of rising US yields and ahead of speeches by senior Fed officials.

This hit Acacia Mining and Hochschild Mining, though the former was also hurt by news that Tanzania had banned exports of gold/copper concentrate.

Acacia, which is Tanzania’s largest gold miner and from its three producing mines in north-west of the country, last year generated around 30% of revenues from gold/copper concentrate.

"At this stage, Acacia has ceased exports of gold/copper concentrate and is urgently seeking further clarification from the Ministry of Energy and Minerals," the company said in a short statement.

Shares in Cobham were down after rallying the previous day on the back of the defence contractor's £500m rights issue announcement, with the management having completed an “initial diagnosis” of its underlying problems but needing extra firepower to keep current projects on track.

Having itself rallied 10% since the start of February, Inmarsat was down as investors seemed less than confident ahead of full year results on next Wednesday. Deutsche Bank said it expects no surprises in the fourth quarter but said there are a number of key points to look out for in the release, including the dividend message and the 2018 outlook.

Passenger travel operator Go-Ahead Group was down, with HSBC cutting its target price to 2,200p from 2,475p a possible factor, with analysts disappointed by this week's profits downgrade from the transport operator, However they maintained a 'buy' rating and said the dividend looks safe and underlying cash generation seem sound.

On the up was Hunting following results on Thursday. Goldman Sachs reiterated its 'buy' rating, saying that while results were slightly weaker than consensus expectations, the outlook is improving, the balance sheet was better than anticipated and with tax rate assumptions lowered the 12-month target price was hefted to 767.50p from 734.30p.

Retailer WH Smith's was another riser, helped by a Barclays upgrade and improved target price, as it sees further "big upside" for profits from the travel arm, which operates retail outlets in stations and airports.

The bank moved to an 'overweight' rating from its previous 'equal weight' and upped the price target to 1,990p from 1,870p.

Challenger bank Shawbrook was sharply higher right at the end of the session, with its results due next Tuesday.

FTSE 250 - Risers

Shawbrook Group (SHAW) 283.00p 13.59%
Hunting (HTG) 578.00p 7.04%
Dignity (DTY) 2,741.00p 4.54%
WH Smith (SMWH) 1,754.00p 3.30%
Brown (N.) Group (BWNG) 207.00p 3.19%
Allied Minds (ALM) 419.90p 2.92%
Petra Diamonds Ltd.(DI) (PDL) 144.50p 2.41%
Jardine Lloyd Thompson Group (JLT) 1,118.00p 2.38%
Debenhams (DEB) 53.15p 2.02%
Marshalls (MSLH) 305.00p 1.90%

FTSE 250 - Fallers

Berendsen (BRSN) 814.50p -12.37%
Acacia Mining (ACA) 474.50p -10.98%
Hochschild Mining (HOC) 239.40p -6.08%
Cobham (COB) 131.00p -5.48%
Cairn Energy (CNE) 215.10p -3.24%
Homeserve (HSV) 569.00p -3.07%
Go-Ahead Group (GOG) 1,940.00p -3.05%
Inmarsat (ISAT) 680.50p -2.92%
Travis Perkins (TPK) 1,428.00p -2.79%
Polypipe Group (PLP) 335.80p -2.53%