FTSE 250 movers: Kaz Minerals jumps on upgrade; Just Eat drops on order slowdown

London’s FTSE 250 was up 0.2% to 18,421.93 in afternoon trade.

Kaz Minerals was the standout gainer after Canaccord Genuity upgraded the stock to ‘buy’ from ‘hold’ and lifted the price target to 475p from 155p.

Canaccord said it expects the miner to see continued production growth through 2018 after the company’s third-quarter results showed increased output levels as the Bozshakol mine continued its commissioning.

Ferrexpo was higher, still rising on the back of a strong production update on Monday.

On the downside, investors lost their appetite for Just Eat after the online takeaway food specialist said it was in a good position to hits its full-year targets but that online food orders slowed in the fourth quarter.

For the calendar year, total orders grew 42% and like-for-like sales grew 36%, while the UK saw order growth of 31%.

At the third-quarter stage, reported order numbers were up 47% and LFL orders ahead 38%.

TalkTalk was on the back foot after it said in the previous session that it will sell £300m senior notes due 2022, the proceeds of which will be used to repay certain existing facilities and to pay the fees and expenses incurred in connection with the offering.

The company said the offering was expected to strengthen its financial position by extending its debt maturity profile and diversifying its funding sources.

Wood Group dropped after saying it has secured a five-year multi-million dollar framework agreement with Saudi Aramco to continue providing engineering and project management services to its onshore capital programmes in the Kingdom of Saudi Arabia.

Challenger bank Aldermore was on the back foot after a double downgrade to ‘underperform’ from Bank of America Merrill Lynch, which also cut its price target on the stock to 225p from 235p.

FTSE 250 - Risers

Kaz Minerals (KAZ) 413.70p 7.01%
Virgin Money Holdings (UK) (VM.) 337.50p 4.49%
Ferrexpo (FXPO) 137.00p 3.79%
Acacia Mining (ACA) 415.70p 3.49%
Keller Group (KLR) 863.00p 3.04%
Paysafe Group (PAYS) 392.80p 2.94%
Bovis Homes Group (BVS) 841.00p 2.81%
Euromoney Institutional Investor (ERM) 1,139.00p 2.80%
Clarkson (CKN) 2,233.00p 2.53%
Electrocomponents (ECM) 497.80p 2.49%

FTSE 250 - Fallers

Just Eat (JE.) 548.00p -6.00%
TalkTalk Telecom Group (TALK) 168.20p -2.61%
Inmarsat (ISAT) 773.00p -2.46%
JRP Group (JRP) 143.10p -2.32%
Tullow Oil (TLW) 325.90p -2.31%
Aldermore Group (ALD) 227.20p -2.24%
Wood Group (John) (WG.) 876.00p -2.07%
Auto Trader Group (AUTO) 400.40p -1.93%
Beazley (BEZ) 384.80p -1.71%
Travis Perkins (TPK) 1,450.00p -1.63%