Alexander Bueso Sharecast News

20 Jul, 2016 17:01 20 Jul, 2016 17:04

FTSE 250 movers: Precious metals miners knocked lower

Electrocomponents paced gains on the second-tier index after the electrical components distributor said its first quarter sales to 30 June grew only 1%, but that was a slowdown from the 3.5% rise recorded in the first six weeks of the period.

Construction & Materials

12,300.31

17:14 13/11/24

-0.13%

-15.56

FTSE 250

20,359.21

17:14 13/11/24

n/a

FTSE 350

4,434.70

17:14 13/11/24

n/a

FTSE All-Share

4,392.88

16:44 13/11/24

n/a

Hochschild Mining

214.50p

17:00 13/11/24

0.00%

0.00p

Ibstock

188.60p

17:00 13/11/24

0.53%

1.00p

Mining

10,674.33

17:14 13/11/24

-0.14%

-15.10

Polymetal International

215.00p

16:35 31/07/23

0.00%

0.00p

RS Group

717.50p

16:40 13/11/24

-1.58%

-11.50p

Support Services

11,078.49

17:14 13/11/24

-1.64%

-184.23

It was also down from the 2% growth in the preceding quarter and 2.8% in the last full year.

Gross margins also improved as cost-cutting proved more effective than expected.

IbStock was also moving higher, participating in another day of gains for UK real estate stocks. Overnight a report from the Centre for Economics and Business Research (Cebr) argued in favour of more flexible funding from government for housebuilders.

Leading to the downside was Stock in Polymetal as the strength in the US dollar sapped the strength of gold futures.

As of 16:57 BST Comex-traded gold futures were declining by 0.86% to 1,320.80.

Shares in Hochschild Mining were also lower a day ahead of the miner's second quarter production update.

"The focus should be on progress with the development of the high grade Pablo vein system at the Pallancata mine. The company could also provide an update on its net debt position that is targeted to be 1x-2x by YE 2016 (NUMe 1.35x) and on how it plans to fully utilise its processing facilities across Peru, where it has significant redundant capacity," analysts at Numis said.

Significantly for the firm, analysts at UniCredit cautioned silver futures had thus far found underlying support from speculators and investors.

However, "there was a risk that markets could be unnerved by more-hawkish rhetoric from the Fed at the July 27 FOMC meeting. This could lead to a stern test of investor resolve as dips so far this year have been short lived," the analysts said.

Market Movers

FTSE 250 - Risers

Electrocomponents (ECM) 284.50p 10.10%
Ibstock (IBST) 143.70p 6.76%
DFS Furniture (DFS) 223.30p 6.13%
Hill & Smith Holdings (HILS) 1,041.00p 5.47%
Workspace Group (WKP) 711.00p 4.64%
JD Sports Fashion (JD.) 1,228.00p 4.16%
Card Factory (CARD) 314.00p 4.15%
NCC Group (NCC) 333.00p 4.03%
Cranswick (CWK) 2,361.00p 3.69%
OneSavings Bank (OSB) 216.60p 3.64%