FTSE 250 movers: Slump in commodities pulls mining stocks lower

The FTSE 250 dropped 1.11% at the close, with Kaz Minerals the biggest faller on the London index as commodity prices declined.

Shares in Kaz Minerals plunged 26.35%, along with a batch of other miners in the sector as investors digested a drop in metal prices and weak Chinese industrial profits data.

A slump in oil prices also hit Tullow Oil and Premier Oil, with Brent crude futures down 2.05% to $47.62 per barrel and West Texas Intermediate crude down 2.1% to $44.72 per barrel.

Going the other way, Home Retail Group surged after Cantor Fitzgerald upgraded the company from ‘hold’ to ‘buy’.

Ultra Electronics rallied after JP Morgan Cazenove upgraded the stock to ‘overweight’ from ‘neutral’.

FTSE 250 - Risers

Home Retail Group (HOME) 136.30p +2.10%

Renishaw (RSW) 2,011.00p +1.98%

Ultra Electronics Holdings (ULE) 1,684.00p +1.51%

Poundland Group (PLND) 279.20p +1.42%

Saga (SAGA) 204.00p +1.34%

Ophir Energy (OPHR) 82.30p +1.29%

Mitie Group (MTO) 287.40p +1.23%

AO World (AO.) 161.80p +1.12%

Big Yellow Group (BYG) 719.00p +0.98%

Ted Baker (TED) 3,195.00p +0.95%

FTSE 250 - Fallers

Kaz Minerals (KAZ) 74.75p -26.35%

Allied Minds (ALM) 334.10p -12.08%

Tullow Oil (TLW) 157.60p -7.02%

Worldwide Healthcare Trust (WWH) 1,700.00p -6.90%

Just Retirement Group (JRG) 162.40p -6.67%

Premier Oil (PMO) 63.10p -6.03%

Vedanta Resources (VED) 429.10p -5.78%

John Laing Group (JLG) 190.00p -4.95%

Weir Group (WEIR) 1,114.00p -4.46%

CLS Holdings (CLI) 1,795.00p -4.22%