FTSE 250 movers: Miners rally as gold price rises after disappointing non-farm payrolls

London’s FTSE 250 index was in the green, rising 1.14% to 18,052.91p in afternoon trade on Friday, as miners rallied on an increase in metal prices after the US non-farm payrolls report missed expectations.

Stocks were up in mineral explorers Acacia Mining, Kaz Minerals, Amec Foster Wheeler and Hochschild Mining.

“Gold received a welcome boost with prices trading towards $1330 following the disappointing non-farm payroll which cooled the heated hopes of the Federal Reserve stepping forward,” said Lukman Otunga, analyst at FXTM Research.

“With a weak dollar potentially becoming a dominant theme following today’s disappointment, gold could be open to further gains in the future. Concerns remain elevated over the global economy which could propel the precious metal higher as investors flock to safe-haven assets. If US data continues to follow this negative trend in September, gold could find itself back above $1350.”

Centamin’s shares were also up after broker Investec reiterated its ‘buy’ rating of the gold miner after previously beating expectations for the year and raised production.

Strike-hit Southern rail co-owner Go-Ahead was the was highest climber on the FTSE 250 as it reported a 27% jump in profit to nearly £100m.

Beleaguered high street retailer Sports Direct was up ahead of founder Mike Ashley’s showdown with shareholders and unions next week over work practices in its Derby warehouse.

The Card Factory’s shares were up after broker Peel Hunt reaffirmed its ‘buy’ rating.

Shares in telecommunications company TalkTalk decreased as it was downgraded by investment company Exane to ‘underperform’ from ‘outperform’ due to competition fears.

Housebuilder stocks were lower after McCarthy & Stone reported that enquiries for its properties had fallen since the Brexit vote. Countrywide and Crest Nicholoson slumped.

Countrywide's announcement that it is to close about 60 branches also weighed on its shares.

Warehouse company Segro came down from a sharp rise after raising around £325m from a share placing to fund new developments for retailers and delivery companies.

Brickmaker Ibstock was also down as major shareholder Diamond sold 10% of its 47% stock in the company for £70.9m..

Risers

Go-Ahead Group (GOG) 2,206.00p 10.41%
Acacia Mining (ACA) 500.50p 8.15%
Hochschild Mining (HOC) 268.60p 7.14%
Amec Foster Wheeler (AMFW) 576.50p 5.88%
Centamin (DI) (CEY) 156.00p 5.41%
CMC Markets (CMCX) 290.70p 4.72%
Sports Direct International (SPD) 328.00p 3.93%
Kaz Minerals (KAZ) 181.20p 3.84%
Card Factory (CARD) 301.70p 3.64%
Lancashire Holdings Limited (LRE) 668.50p 3.56%

Fallers

McCarthy & Stone (MCS) 184.50p -11.93%
Ibstock (IBST) 168.30p -9.61%
SIG (SHI) 123.20p -3.07%
TalkTalk Telecom Group (TALK) 203.70p -3.00%
Safestore Holdings (SAFE) 379.40p -2.72%
SEGRO (SGRO) 443.80p -2.50%
Riverstone Energy Limited (RSE) 1,104.00p -2.47%
Countrywide (CWD) 263.80p -1.79%
Shawbrook Group (SHAW) 230.00p -1.54%
Crest Nicholson Holdings (CRST) 474.70p -1.51%