FTSE 250 movers: Vedanta rises on higher copper prices; Inmarsat hit by downgrade

London’s FTSE 250 was up 0.4% to 20,063.34 in afternoon trade on Monday.

Vedanta Resources was up on the back of rising copper prices, while FDM Group benefitted from a target price upgrade to 1,050p from 900p at Investec.

Meanwhile, Hochschild Mining and Acacia shone as gold prices rallied, while Cineworld was on the front foot as investors awaited details on its capital increase.

Investec was up after saying it has "immaterial exposure" to South African retail giant Steinhoff International, which caused alarm for its lenders after its shares fell 80% last week, though some derivatives exposure could put a dent in profits.

Inmarsat took a hit as Goldman Sachs downgraded its stance on the stock to ‘neutral’ from ‘buy’ and slashed the price target to 580p from 860p.

It noted that since being added to the Buy List in August 2016, the stock is down around 43% versus the FTSE World Europe up around 15%, driven by earnings downgrades as aero costs increased and revenue headwinds persisted.

Risers

Vedanta Resources (VED) 675.50p 5.79%
FDM Group (Holdings) (FDM) 963.50p 5.30%
Hochschild Mining (HOC) 233.62p 5.28%
Cineworld Group (CINE) 548.00p 4.38%
Brown (N.) Group (BWNG) 268.00p 4.28%
Evraz (EVR) 314.60p 4.00%
Acacia Mining (ACA) 172.70p 3.85%
Investec (INVP) 479.10p 3.84%
Sirius Minerals (SXX) 25.25p 3.61%
Drax Group (DRX) 269.20p 3.54%

Fallers

TalkTalk Telecom Group (TALK) 140.50p -9.06%
Inmarsat (ISAT) 453.70p -6.61%
Pets at Home Group (PETS) 164.60p -3.97%
Workspace Group (WKP) 925.00p -3.80%
Big Yellow Group (BYG) 822.50p -3.41%
Safestore Holdings (SAFE) 462.80p -2.85%
esure Group (ESUR) 254.40p -2.49%
Saga (SAGA) 131.70p -2.44%
Millennium & Copthorne Hotels (MLC) 600.00p -2.20%
Capita (CPI) 476.70p -1.93%