FTSE 250 movers: Gold shares rally; AO World slumps after update
London's FTSE 250 was down 1% to 19,665.21 in afternoon trade, with just two days to go until the general election.
Acacia, Hochschild, Centamin and Polymetal were all trading higher as gold prices rose amid growing geopolitical tensions.
Packaging and filter products producer Essentra advanced after saying it has divested its consumer packaging site in Bristol to Broomco, an affiliate of Euro Packaging, for an undisclosed sum. The deal is expected to be immediately earnings-accretive, although the net proceeds are not expected to have a material impact on the company's net debt position.
Going the other way, online electrical goods retailer AO World retreated after warning of a significant slowdown in UK first quarter growth due to Brexit concerns, a weak pound and a slowdown in the UK housing market. Full year revenues increased 17% to £701m as its UK and Continental European businesses grew sales, but the company said the “challenging” trading environment seen in the second half of the UK financial year had continued.
Countryside Properties was also in the red as divisional chief executives Richard Cherry and Graham Cherry sold just over 11m shares in Countryside Properties, or a stake of around 2.4% at 325p per share. The placing was conducted through an accelerated bookbuild, with Numis Securites acting as sold bookrunner. Following completion, Richard will continue to hold 6.6m shares in the company or 1.5%, while Graham will hold 8.9m shares or 2%.
Risers
Clarkson (CKN) 2,618.00p 4.68%
Acacia Mining (ACA) 298.10p 4.30%
Hochschild Mining (HOC) 305.40p 2.86%
Weir Group (WEIR) 1,851.00p 1.93%
Vedanta Resources (VED) 584.50p 1.65%
Centamin (DI) (CEY) 170.40p 1.43%
Polymetal International (POLY) 1,000.00p 1.21%
Essentra (ESNT) 580.00p 1.13%
UK Commercial Property Trust (UKCM) 90.45p 0.84%
Wizz Air Holdings (WIZZ) 2,323.00p 0.69%
Fallers
AO World (AO.) 134.10p -7.52%
Sophos Group (SOPH) 420.80p -6.28%
HarbourVest Global Private Equity Limited A Shs (HVPE) 1,255.00p -3.76%
Countryside Properties (CSP) 318.10p -3.75%
RPC Group (RPC) 842.50p -3.49%
Carillion (CLLN) 194.30p -3.48%
ZPG Plc (ZPG) 361.60p -3.34%
Hunting (HTG) 483.70p -3.26%
BBA Aviation (BBA) 306.90p -3.25%
Ted Baker (TED) 2,347.00p -3.22%