FTSE 250 movers: NMC looking healthy after Saudi investment; Miners lose lustre

Shares in Emirates-based NMC Health jumped as the company said it was expanding into Saudi Arabia with the purchase of a 70% stake in a hospital for $45m and and investment in a long-term care facility.

The As Salama hospital is in Al Khobar, eastern Saudi and offers a range of services, from acute to long-term care for chronic illnesses.

NMC said it plans to revamp the existing facility's long term care capabilities to extend its capabilities and “strengthen its market positioning as a leader in this highly specialised treatment area”.

The company added that it had taken a 67.5% stake in Jeddah to build a chronic care centre with120 beds through its Provia unit.

Mining stocks were under the cosh as gold and silver prices dropped. Acacia Mining, Centamin, Hochschild Mining and Kaz Minerals were all lower.

“The devaluation of gold, silver, copper and iron ore in the wake of Friday’s dollar rally is expected to provide a drag for days to come, with only crude prices remaining surprisingly resilient amid something of a bloodbath for commodity stocks,” said Joshua Mahony, market analyst at IG.

Market Movers

FTSE 250 (MCX) 17,879.40 -0.29%

FTSE 250 - Risers

Big Yellow Group (BYG) 745.50p 2.76%
NMC Health (NMC) 1,360.00p 2.56%
Wizz Air Holdings (WIZZ) 1,570.00p 2.54%
IP Group (IPO) 193.30p 1.84%
Paragon Group Of Companies (PAG) 317.90p 1.83%
Cranswick (CWK) 2,433.00p 1.66%
Ocado Group (OCDO) 304.80p 1.63%
Riverstone Energy Limited (RSE) 1,087.00p 1.59%
Electra Private Equity (ELTA) 3,850.00p 1.56%
Micro Focus International (MCRO) 2,024.00p 1.45%

FTSE 250 - Fallers

Acacia Mining (ACA) 492.80p -7.80%
Centamin (DI) (CEY) 157.90p -6.29%
Hochschild Mining (HOC) 260.90p -5.87%
Vectura Group (VEC) 130.30p -5.24%
Restaurant Group (RTN) 399.80p -5.09%
Allied Minds (ALM) 353.70p -4.86%
Kaz Minerals (KAZ) 174.20p -4.59%
Debenhams (DEB) 60.10p -4.30%
Aldermore Group (ALD) 155.90p -4.29%
Evraz (EVR) 133.00p -3.69%