FTSE 250 Movers: Kaz minerals heats up but oil services firms cool off

FTSE 250 Index fell 0.5% to 17,581.32 in the late afternoon

Kaz Minerals, a Kazakstan based copper mining company, shares rose as it reported a rise in copper cathode equivalent output for the third quarter thanks to stronger production in the East Region, Bozymchak and Aktogay.

Fidessa Group, a UK based holding company, experienced a rise in share price as its management released an interim statement stating their confidence despite Brexit. “Although it remains too early to say what the wider implications of Brexit will be and how this might affect customer activity, Fidessa is not currently expecting that there will be any impact on the changing regulatory environment.”

Technology company group Halma’s advanced as Morgan Stanley initiated its coverage at 'overweight' and set its price target at 1,250p. “In a weak economic environment, Halma should continue to deliver strong EPS growth supported by increasing health & safety and environmental legislation, the non-discretionary nature of its offering and strong FCF generation to underpin its ongoing M&A strategy,” said analyst Robert Davies.

Vesuvius, a molten metal flow engineering company, gained after saying its sales in the year to date remain in line with expectations as cost saving measures and foreign exchange benefits offset a weak steel market.

Shares in department store chain Debenhams rallied as it posted a small increase in underlying full-year pre-tax profit on Thursday, but reported profit fell and the company said the trading environment in the second half was more challenging.

Amec Foster Wheeler plunged as the oilfield services firm forecast further slowing in oil and gas and solar activity in 2017, while raising its estimate for year-end net debt. Petrofac, a fellow provider to the oil and gas industry, shares also fell as a result of a read across from Amec Foster Wheeler.

Textile service company Berendsen slumped after it reported a 12.9% rise in quarterly revenue but continued operational issues resulted in higher costs.

British construction company Galliford Try’s shares were down as the stock went ex dividend.

Henderson Group’s shares drifted lower after the investment management company said retail investors took £1bn from its funds in the third quarter with over 70% of the outflow occurring in July in the immediate aftermath of the UK referendum.

Risers

Kaz Minerals (KAZ) 306.00p 8.20%
Fidessa Group (FDSA) 2,470.00p 7.58%
Vesuvius (VSVS) 366.50p 5.26%
Rank Group (RNK) 195.60p 4.32%
Debenhams (DEB) 55.40p 3.17%
FirstGroup (FGP) 111.10p 2.59%
Ocado Group (OCDO) 281.10p 2.52%
Vedanta Resources (VED) 715.00p 2.51%
GVC Holdings (GVC) 702.00p 2.33%
Halma (HLMA) 1,048.00p 2.04%

Fallers

Amec Foster Wheeler (AMFW) 462.90p -20.94%
Berendsen (BRSN) 1,030.00p -16.33%
Galliford Try (GFRD) 1,207.00p -7.51%
Petrofac Ltd. (PFC) 834.50p -3.97%
Henderson Group (HGG) 231.50p -2.89%
Sophos Group (SOPH) 225.10p -2.72%
Halfords Group (HFD) 336.50p -2.46%
Virgin Money Holdings (UK) (VM.) 326.00p -2.40%
Ted Baker (TED) 2,530.00p -2.39%
Electrocomponents (ECM) 363.40p -2.36%