FTSE 250 movers: Kaz Minerals jumps, RHI Magnesita stumbles

London's FTSE 250 was 0.12% higher at 20,204.99 in afternoon trade on Thursday, as Kaz Minerals led the index upward.

The Kazakhstan-focused miner racked up healthy gains as it reported a jump in third-quarter copper production and said production for the full year was expected to be at the upper end of its guidance range.

Centamin was trading higher for the second consecutive session after it reiterated strong full-year guidance on Wednesday despite reporting a double-digit fall in third-quarter gold production from its Egyptian Sukari mine.

AJ Bell rose after the investment platform reported an increase in assets under management and customer numbers for the first full year of trading since its IPO.

Down at the other end of the index, refractory products and systems supplier RHI Magnesita topped the fallers after it reported that, since its interim results in August, the global steel market had weakened further, with global production declining quarter-on-quarter.

Peel Hunt analysts said: "In essence, the continued good performance by the Industrial division, the anticipated synergies and the recovery from the 2018 operational headwinds have been overtaken by a 14% decline in the Steel division’s revenue through the period.

"This requires a major recalibration of our forecasts with the company now forecasting EBITA for the current year in a range of €400m - €410m compared to our forecast of €460m."

Coats Group was in the red as its stock went ex-dividend.

Finally, Rathbone Brothers dropped after analysts at Shore Capital downgraded the stock from 'hold' to 'sell', arguing that the company's third quarter trading update had not left them confident of a reversal in organic growth deterioration at the largest division, Rathbone Investment Management.

Market Movers

FTSE 250 (MCX) 20,204.99 0.12%

FTSE 250 - Risers

Kaz Minerals (KAZ) 486.70p 7.75%
Aston Martin Lagonda Global Holdings (AML) 497.90p 5.62%
Contour Global (GLO) 198.93p 5.48%
Vesuvius (VSVS) 384.80p 4.23%
Intermediate Capital Group (ICP) 1,476.00p 2.71%
Centamin (DI) (CEY) 114.40p 2.55%
GVC Holdings (GVC) 895.20p 2.50%
Synthomer (SYNT) 313.80p 2.48%
Airtel Africa (AAF) 56.35p 2.45%
AJ Bell (AJB) 380.00p 2.43%