FTSE 250 movers: Index moves sideways despite mining losses

The FTSE 250 ambled sideways on Tuesday, with falling shares of a host of miners balanced by better than expected inflation data from the Office for National Statistics.

At 1515 BST, London's mid-cap index was up 13 points at 17,622.1.

Cairn Energy was the major faller, as shares in the explorer slumped as its first-half loss widened on the back of a $177m impairment charge. Societe Generale said the loss was significantly bigger than consensus expectations of $37m as the group marks-to-market the value of its 10% stake in Cairn India.

Shares in miner Lonmin were under pressure after RBC Capital Markets slashed its price target on the stock to 35p from 110p as it adjusts its model to reflect retrenchment costs in full-year 2015 and lower opex.

Ahead of its interim results later in the week, KAZ Minerals was another hit by a critical broker comment, in this case from Goldman Sachs, which has a bearish view of the copper price.

Plunging Chinese stocks in late trading in the People's Republic saw investment trust Fidelity China Special Situations dragged lower.

A day after publishing results, Bovis Homes shares were hit as it came under the microscope of the Times’ Tempus column, which said Bovis’s half-year results showed why the house builder was less attractive than some of its peers, with profits growing slower than sales. Shares in the company have doubled since that start of 2013.

Leading the risers was Euromoney Institutional Investor as even a thin volume of trading saw its shares bounced back strongly from losses on Monday, despite any concrete news. The companies events revenues have been a concern for the market, as a considerable chunk are focused on the embattled natural resources sector.

FTSE 250 - Risers
Euromoney Institutional Investor (ERM) 1,087.00p +4.62%
UDG Healthcare Public Limited Company (UDG) 543.00p +3.72%
Allied Minds (ALM) 472.10p +3.64%
Zoopla Property Group (WI) (ZPLA) 274.30p +3.51%
Telecom Plus (TEP) 1,140.00p +3.17%
Redefine International (RDI) 55.35p +2.69%
Rathbone Brothers (RAT) 2,323.00p +2.56%
OneSavings Bank (OSB) 323.00p +2.54%
Fisher (James) & Sons (FSJ) 1,136.00p +2.43%
PayPoint (PAY) 1,023.00p +2.30%

FTSE 250 - Fallers
Cairn Energy (CNE) 141.10p -8.61%
Lonmin (LMI) 32.95p -7.81%
Ophir Energy (OPHR) 93.40p -4.65%
Evraz (EVR) 88.30p -4.13%
Fidelity China Special Situations (FCSS) 129.00p -4.02%
Tullow Oil (TLW) 208.90p -3.87%
Templeton Emerging Markets Inv Trust (TEM) 424.50p -3.21%
Bovis Homes Group (BVS) 1,128.00p -3.01%
Kaz Minerals (KAZ) 145.50p -2.94%
Premier Oil (PMO) 100.70p -2.71%