FTSE 250 movers: Hochschild shines; housebuilders retreat
London’s FTSE 250 was up 0.6% at 23,249.55 in afternoon trade on Monday.
Hochschild shone as gold prices rose. Oanda analyst Craig Erlam said: "Gold is rallying on Monday after once again failing to end the week above $1,800.
"Prices tumbled on Friday after such a strong recovery in the dollar which is marginally lower today. Higher yields continue to be a massive downside risk for gold, despite it showing incredible resilience so far, but that will likely continue to weigh."
Retailer Marks & Spencer was among the risers. The Times reported on Friday that M&S was considering a bid to rescue Savile Row brand Gieves & Hawkes. It cited sources as saying that M&S was interested in buying Gieves & Hawkes but was yet to appoint an adviser to run the process.
Housebuilders Bellway, Vistry and Crest Nicholson all fell amid the prospect of higher borrowing costs.
Ahead of Thursday’s Bank of England rate announcement, IG said: "While the removal of all stamp duty holiday benefits has thrown caution to the wind for investors, the prospect of a significant jump in interest rates is going to do little to help bolster support for the housebuilding stocks."
FTSE 250 - Risers
Hochschild Mining (HOC) 151.10p 5.96%
Micro Focus International (MCRO) 375.90p 5.38%
Cineworld Group (CINE) 63.44p 3.66%
XP Power Ltd. (DI) (XPP) 5,420.00p 3.63%
Baillie Gifford Shin Nippon (BGS) 243.00p 3.18%
JPMorgan European Discovery Trust (JEDT) 563.00p 3.11%
Carnival (CCL) 1,515.60p 3.10%
Oxford Instruments (OXIG) 2,375.00p 3.04%
Bytes Technology Group (BYIT) 550.00p 3.00%
Marks & Spencer Group (MKS) 188.90p 2.89%
FTSE 250 - Fallers
Petropavlovsk (POG) 22.98p -3.61%
AO World (AO.) 142.30p -2.73%
Bellway (BWY) 3,226.00p -2.63%
Tritax Eurobox (GBP) (EBOX) 110.40p -2.13%
Plus500 Ltd (DI) (PLUS) 1,288.50p -2.13%
Vistry Group (VTY) 1,194.50p -2.09%
Crest Nicholson Holdings (CRST) 348.80p -2.02%
Spirent Communications (SPT) 282.20p -2.01%
Countryside Properties (CSP) 461.00p -2.00%
Games Workshop Group (GAW) 9,460.00p -1.92%