FTSE 250 movers: Mining shares gain as metal prices rise

The FTSE 250 closed the session down 0.19% to 18,377.37 points.

Travel & Leisure

8,607.27

15:45 15/11/24

-0.29%

-25.35

Mining shares rallied, including Hoschchild Mining, Kaz Minerals and Centamin, as metal prices gained. Investors flocked to gold amid a politically motivated sell-off in equities.

At 15:26 GMT, on Comex, gold was up 0.62% to $1228.4 an ounce, while silver was up 0.75% to $17.61 a pound and copper rose 0.97% to 264.15 cents a pound.

Michael Hewson, chief market analyst at CMC Markets UK, said gold's rise came as investors sought safe havens due to political uncertainty.

These uncertainties, broadly speaking, included the US President Donald Trump and his platter of controversial executive orders, the fear of so-called hard Brexit for the UK, the eurozone economy, and US sanctions of Iran.

Going the other way, Thomas Cook edged lower following reports the travel company is under pressure from shareholders over bonus plans for chief executive Peter Fankhauser.

Institutional Shareholder Services (ISS), which represents about 20% of investors, is against a proposal that could see Fankhauser pocket up to £1.6m a year. The company will host its annual meeting on Thursday.

FTSE 250 - Risers

Indivior (INDV) 325.70p 3.43%
Hochschild Mining (HOC) 248.30p 3.11%
McCarthy & Stone (MCS) 172.90p 2.80%
Kaz Minerals (KAZ) 512.00p 2.63%
Spire Healthcare Group (SPI) 326.40p 2.48%
Victrex plc (VCT) 1,936.00p 2.27%
CMC Markets (CMCX) 111.70p 2.20%
Inmarsat (ISAT) 629.50p 2.11%
CLS Holdings (CLI) 1,593.00p 1.98%
Keller Group (KLR) 858.00p 1.72%