FTSE 250 movers: Oil, gas & miners in favour; Chemring slides

FTSE 250 (MCX) 19,874.45 0.10%

Oil and gas producers were in favour on Tuesday after FTSE 100 major BP said it expected first-quarter upstream production to be higher than the previous three months.

The news boosted Diversified Energy and oil services outfit Wood Group

Miners were up on higher commodity prices. Centamin and Endeavour Mining were gainers.

Russ Mould, investment director at AJ Bell, said: "Mining stocks have benefited from rising iron ore prices amid speculation that demand will improve from Chinese steelmakers.

"The Chinese government is eager to stimulate the economy and there is a hope that its initiatives will feed through into greater steel activity, with iron ore a key raw material."

Chemring was the biggest faller on the 250, down 5%, as sentiment turned on German weapons maker Rheinmetall fell as much as 12% from a record high while other European defense stocks also declined as Goldman Sachs says it sees more downside than upside risk for sector valuations going in to 2025.

FTSE 250 - Risers

Diversified Energy Company (DEC) 1,063.00p 3.61%
W.A.G Payment Solutions (WPS) 69.60p 3.57%
Future (FUTR) 705.00p 3.30%
Wood Group (John) (WG.) 135.20p 3.13%
Wizz Air Holdings (WIZZ) 2,328.00p 3.01%
Centamin (DI) (CEY) 124.70p 2.97%
AO World (AO.) 107.60p 2.87%
Close Brothers Group (CBG) 452.80p 2.82%
Aston Martin Lagonda Global Holdings (AML) 171.50p 2.51%
IP Group (IPO) 47.30p 2.49%