FTSE 250 movers: Centamin shines, Dunelm dips
London's FTSE 250 was 0.12% lower at 20,158.07 in afternoon trade on Wednesday, with Dunelm leading the index downwards.
Ashmore was lower after analysts at Berenberg cut their price target for the stock from 506p to 498p as they questioned the sense behind shares in the investment manager having rallied on an increase in the likelihood of a Brexit deal.
The analysts said: "Ashmore is unlikely to benefit from any stabilisation in the UK economy (less than 10% of the group’s AUM is sourced from UK investors), but is certain to be adversely affected by the accompanying strengthening in sterling (we estimate earnings fall at least 10% with every 10% sterling appreciation).
"Our EPS forecasts for Ashmore fall as we incorporate recent FX moves and other market factors. We see better a risk/return ratio elsewhere."
IT infrastructure and services company Softcat was in the red even as it reported a rise in full-year profit and revenue and declared a special dividend.
Quilter also fell, following a dip in gross sales in the third quarter, although the wealth manager did report higher assets under management and administration.
Beazley was also heading lower after analysts at Canaccord said they expected the insurer's third quarter update to show a notable exposure to windstorms Dorian, Faxai and Hagibis, with analysts estimating a hit to profit before tax of approximately $100m.
Up at the other end of the index, gold miner Centamin was trading higher after it reiterated strong full-year guidance despite a double-digit fall in third-quarter gold production from its Egyptian Sukari mine.
Market Movers
FTSE 250 (MCX) 20,158.07 -0.12%
FTSE 250 - Risers
Centamin (DI) (CEY) 111.70p 4.34%
Watches of Switzerland Group (WOSG) 290.00p 3.39%
Rathbone Brothers (RAT) 2,213.10p 3.17%
RHI Magnesita N.V. (DI) (RHIM) 3,654.00p 3.10%
Ferrexpo (FXPO) 133.35p 2.54%
Oxford Instruments (OXIG) 1,294.00p 2.54%
Renishaw (RSW) 3,324.00p 2.47%
Kaz Minerals (KAZ) 452.40p 2.38%
G4S (GFS) 209.70p 2.24%
Ascential (ASCL) 363.20p 2.14%
FTSE 250 - Fallers
Dunelm Group (DNLM) 845.78p -3.39%
Ashmore Group (ASHM) 468.80p -3.30%
AJ Bell (AJB) 373.00p -3.24%
Softcat (SCT) 914.50p -2.87%
Quilter (QLT) 140.30p -2.60%
Beazley (BEZ) 581.50p -2.60%
SSP Group (SSPG) 630.00p -2.48%
Barr (A.G.) (BAG) 538.70p -2.41%
Pets at Home Group (PETS) 222.60p -2.02%
Lancashire Holdings Limited (LRE) 682.00p -1.94%