FTSE 250 movers: KAZ climbs, AG Barr spills lower

London’s FTSE 250 was up 0.16% at 18,658.31 in afternoon trade on Friday, as Kazakh copper miner KAZ Minerals drove the market higher.

Electronic & Electrical Equipment

9,425.71

14:39 05/11/24

-0.27%

-25.93

The copper miner was the top riser after it reported fourth quarter copper production of 77.9 kt up from 2017's 65.2 kt, making full-year output 294.7 kt, an increase of 14% year on year, while takeaway website Just Eat continued to rise on an upgrade to 'overweight' at JPMorgan.

Ahead of the release of its interim results next Thursday, engineering company Renishaw made gains after it announced the addition of two new additive manufacturing solutions centres in Barcelona, Spain, and Torino, Italy.

Also rising ahead of interim results next week was Rank Group, which crept up after Peel Hunt said it expected positive news in relation to the company's transformation programme despite an expected material decline in profit.

Meanwhile, precious metals miners Hochschild and Centamin climbed after gold prices advanced with the aid of a weaker US dollar index.

Irn-Bru maker AG Barr fizzed lower despite saying it expects a 5% increase in full-year revenue, as it highlighted ongoing political and economic uncertainty in the UK.

Close behind was Tritax Big Box Reit, which dived after having conditionally agreed to acquire an 87% economic interest in db Symmetry for £322m, significantly increasing the group’s development exposure and raising the risk profile in order to sustain returns, according to Liberum.

"Despite this purchase, management re-state their commitment to providing secure and growing income, focussed on big box logistics. The group is confident it can maintain its progressive dividend policy, with full cover, albeit there will be a near term hit to earnings and we would expect the cost ratio to increase," said a note from the broker.

Cranswick dropped after being initiated at 'hold' with a price target of 2,810p by HSBC, while insurers Lancashire Holdings and Beazley both crept lower.

Market Movers

FTSE 250 (MCX) 18,658.31 0.16%

FTSE 250 - Risers

Kaz Minerals (KAZ) 546.14p 6.67%
Just Eat (JE.) 701.80p 5.19%
Hochschild Mining (HOC) 169.60p 3.83%
Sirius Minerals (SXX) 19.84p 3.66%
Renishaw (RSW) 4,224.00p 3.18%
Clarkson (CKN) 2,538.59p 2.99%
Rank Group (RNK) 150.51p 2.95%
Weir Group (WEIR) 1,454.00p 2.87%
Centamin (DI) (CEY) 116.05p 2.34%
Spectris (SXS) 2,503.00p 2.20%