FTSE 250 movers: Talvivaara gains after reassuring investors
Mon 03 Sep 2012
LONDON (SHARECAST) - Finnish zinc and nickel mining company Talvivaara was a high riser after it denied it will be cutting jobs as part of a cost savings plan. Rumours had been circulating that the low price of nickel would force a reduction in headcount.
Shares in Lonmin, one of the world's biggest platinum producers, rose on after reports the firm had agreed details of a wage deal with striking miners. Work on the company's Marikana project in South Africa has been at a standstill for three weeks after a pay dispute turned violent, culminating in a bloody showdown with police that left 34 miners dead.
Africa-focused oil group Ophir Energy rose after significantly upping estimates of potential resources at one of its sites in Tanzania.
Home Retail was making gains after Investec upgraded its rating on the stock from 'sell' to 'buy', saying that shares should react positively "to evidence of more resilient trading at Argos" after the group's second-quarter trading update next week.
Paragon, the specialist buy-to-let mortgage lender, was in demand after saying that one of its companies had snapped up a bundle of credit card debt from MBNA Europe Bank.
Panmure Gordon today lifted its share price forecasts for Barratt Developments (to 190p from 169p), Taylor Wimpey (to 58p from 53p) and Bovis Homes (to 564p from 504p).
FTSE 250 - Risers
Talvivaara Mining Company (TALV) 134.00p +6.86%
Barratt Developments (BDEV) 157.40p +4.93%
Hochschild Mining (HOC) 452.10p +4.53%
Centamin (DI) (CEY) 83.10p +4.53%
Soco International (SIA) 350.90p +4.19%
Bovis Homes Group (BVS) 492.80p +4.14%
Persimmon (PSN) 726.50p +4.08%
Ophir Energy (OPHR) 586.50p +3.90%
Taylor Wimpey (TW.) 53.15p +3.71%
Paragon Group Of Companies (PAG) 195.70p +3.49%
FTSE 250 - Fallers
CSR (CSR) 310.70p -4.58%
Bumi (BUMI) 303.80p -4.47%
Cape (CIU) 234.10p -3.42%
Ocado Group (OCDO) 58.70p -2.98%
Daejan Holdings (DJAN) 2,949.00p -2.61%
Henderson Group (HGG) 103.60p -2.36%
Ferrexpo (FXPO) 158.00p -2.29%
PayPoint (PAY) 701.50p -2.16%
Petra Diamonds Ltd.(DI) (PDL) 102.40p -2.01%
ITE Group (ITE) 198.90p -1.92%