FTSE 250 movers: Elementis falls on news of profit slowdown
Fri 26 Oct 2012
LONDON (SHARECAST) - Speciality chemicals group Elementis was a heavy faller after saying that full-year headline operating profits will be hit by a temporary slowdown in oilfield drilling. Nevertheless, the group said it remains on track to hit earnings per share (EPS) forecasts this year due to a lower tax rate.
African Barrick Gold also dropped after scaling back its production guidance for the full year following a "challenging" third quarter which saw output and sales shrink dramatically year-on-year.
Meanwhile, speciality chemicals producer AZ Electronic Materials continued to rise after yesterday reporting that it had a stronger third quarter and confirmed that it is on track to meet full-year expectations.
Fund manager Man Group has been has been given a boost after it revealed on Thursday that Crispin Odey has built up a stake in the business, and now holds 5.15% of the group's voting rights.
FTSE 250 - Risers
AZ Electronic Materials SA (DI) (AZEM) 345.10p +2.71%
Man Group (EMG) 82.10p +2.56%
JD Sports Fashion (JD.) 769.00p +2.26%
Booker Group (BOK) 101.50p +2.01%
Wetherspoon (J.D.) (JDW) 506.00p +1.87%
Heritage Oil (HOIL) 198.40p +1.74%
Ferrexpo (FXPO) 196.80p +1.44%
Grainger (GRI) 110.00p +1.38%
Supergroup (SGP) 669.00p +1.36%
Drax Group (DRX) 555.00p +1.28%
FTSE 250 - Fallers
Elementis (ELM) 204.90p -5.58%
F&C Asset Management (FCAM) 95.45p -5.50%
African Barrick Gold (ABG) 456.70p -5.15%
SDL (SDL) 535.50p -5.14%
New World Resources A Shares (NWR) 266.90p -4.51%
Daejan Holdings (DJAN) 2,869.00p -3.11%
Rotork (ROR) 2,223.00p -3.05%
COLT Group SA (COLT) 115.00p -2.87%
Bwin.party Digital Entertainment (BPTY) 122.00p -2.79%
Centamin (DI) (CEY) 97.00p -2.71%
LONDON (SHARECAST) - Speciality chemicals group Elementis was a heavy faller after saying that full-year headline operating profits will be hit by a temporary slowdown in oilfield drilling. Nevertheless, the group said it remains on track to hit earnings per share (EPS) forecasts this year due to a lower tax rate.
