FTSE 250 movers: Copper and steel stocks heat up while gold issues simmer down

FTSE 250 index rose 0.92% to 17,430.66 in the late afternoon.

Steel producer Evraz rose as Chinese steel rebar futures increased to US$450.4 per tonne from US$434.5 per tonne in the previous session.

Copper producer Kaz Minerals also gained ground as three-month copper prices added 0.7% to $4,991 per metric tonne.

Sports Direct edged up despite the MPs behind the report into work practices at the company turning up for a surprise inspection on Monday.

On the downside, gold miners Hochschild and Centamin retreated as gold futures took a 1.59% dive to $1,283.80 an ounce. Gold rallied last week as polls suggested Trump was in the lead but fell back on Monday, losing their safe-haven appeal as Clinton was cleared of charges by the FBI.

FXTM Research analyst Lukman Otunuga said: "The zero yielding metal experienced a sharp decline on Monday after the FBI cleared Hillary Clinton of criminal charges relating to the private email server. It is becoming increasing clear that financial markets are supportive of a Clinton victory with Gold poised for steeper declines if optimism intensifies over Hillary Clinton winning the presidential election."

Meanwhile, Oanda's Craig Erlam said: "With Clinton stealing back the momentum 48 hours before the election, we may see risk appetite remain positive heading into the vote. The Trump hedge has been partially unwound this morning, with Gold slipping more than 1% where it last week ran into resistance. We could see this head back towards $1,250 in the coming days, possibly even further in the event of a Clinton victory given what that would mean for both risk appetite and US interest rates."

DFS Furniture was still reeling after private equity firm Advent International cut its stake in the company by half at the end of last week.

Risers

Evraz (EVR) 197.60p 5.16%
Countrywide (CWD) 188.30p 5.14%
Vedanta Resources (VED) 749.50p 4.90%
Kaz Minerals (KAZ) 291.60p 4.55%
Clarkson (CKN) 2,103.00p 3.80%
Sports Direct International (SPD) 318.50p 3.48%
Supergroup (SGP) 1,440.00p 3.30%
Petra Diamonds Ltd.(DI) (PDL) 148.30p 3.27%
Fidelity China Special Situations (FCSS) 186.00p 3.05%
Mitchells & Butlers (MAB) 274.30p 3.04%

Fallers

Hochschild Mining (HOC) 259.80p -2.04%
esure Group (ESUR) 189.70p -1.91%
DFS Furniture (DFS) 234.90p -1.51%
BGEO Group (BGEO) 2,864.00p -1.34%
Jardine Lloyd Thompson Group (JLT) 1,022.00p -1.16%
TalkTalk Telecom Group (TALK) 200.00p -1.14%
Centamin (DI) (CEY) 155.30p -1.02%
Card Factory (CARD) 253.50p -0.98%
AO World (AO.) 167.00p -0.95%
NCC Group (NCC) 201.10p -0.94%