FTSE 250 movers: GVC rallies but precious metals miners lose their shine

London’s FTSE 250 was up 0.4% to 17,760.00 in afternoon trade as investors continued to mull over the Federal Reserve’s latest policy announcement.

GVC Holdings was the standout gainer after saying it expects gaming revenue and adjusted earnings for the year to be at the upper end of forecasts as the company’s strong trading performance has continued through the fourth quarter.

The sports betting and gaming group also announced a 49% increase in the proposed special dividend, previously announced at the start of November, to 14.9 cents per share amid positive momentum in the business and strong cash generation.

Aggreko got a boost as Deutsche Bank upped its stance on the temporary power provider to ‘buy’ from ‘hold’ and lifted the price target to 1,000p from 780p noting the company was approaching the end of four years of negative earnings momentum.

The bank estimated that between 2012 and 2016, Aggreko’s trading profit will have declined by almost 40%, mostly driven by the roll-off of certain one-off contracts, pricing pressure and a drag from oil and gas.

WH Smith also benefited from an upgrade by Deutsche Bank, which upped its stance on the stock to ‘buy’ from ‘hold’.

The bank gave five reasons for its ‘buy’ rating: “WH Smith has an excellent track record and forecasts look conservative; the macro challenges are less than for other UK retailers; International Travel Retail is an exciting growth avenue; High Street now has growth avenues as well as offering cost saving potential; the cash returns story continues."

On the downside, Centamin and Acacia Mining lost their shine as precious metals prices declined on the back of a stronger dollar, which gained ground after a hawkish rate hike by the Federal Reserve. A stronger greenback makes dollar-denominated commodities more expensive for holders of other currencies.

Hochschild Mining was under the cosh after saying its Pallancata mine in Peru had temporarily stopped production due to a road blockade by members of a local community.

The company said the community was demanding the renegotiation of existing agreements for land easements.

Marston’s was weaker as its stock went ex-dividend.

Risers

GVC Holdings (GVC) 657.00p 6.83%
Aggreko (AGK) 919.50p 4.91%
PayPoint (PAY) 916.00p 4.21%
WH Smith (SMWH) 1,506.00p 4.08%
Playtech (PTEC) 796.00p 3.78%
Auto Trader Group (AUTO) 404.10p 3.35%
CYBG (CYBG) 279.80p 3.25%
Thomas Cook Group (TCG) 87.25p 3.07%
Rathbone Brothers (RAT) 1,965.00p 2.88%
JRP Group (JRP) 140.40p 2.78%

Fallers

Centamin (DI) (CEY) 116.70p -10.57%
Acacia Mining (ACA) 366.00p -7.90%
Petra Diamonds Ltd.(DI) (PDL) 147.40p -6.71%
Hochschild Mining (HOC) 227.20p -6.50%
Kaz Minerals (KAZ) 373.50p -4.79%
Marston's (MARS) 133.80p -3.95%
Kennedy Wilson Europe Real Estate (KWE) 947.00p -3.61%
Redefine International (RDI) 37.91p -3.51%
Vedanta Resources (VED) 900.50p -3.48%
NCC Group (NCC) 178.10p -3.47%