FTSE 250 movers: Kaz Minerals rallies; Sirius slumps
London’s FTSE 250 was flat at 21,783.06 in afternoon trade on Monday.
Copper miner Kaz Minerals was in the green as investors bet on further stimulus from Beijing.
Jupiter Fund Management was a high riser as it confirmed it had made a £370m takeover offer for Merian Global Investors.
On the downside, Sirius Minerals tumbled after it announced at the end of last week that talks with a consortium of investors on an alternate debt financing proposal to raise $680m had fallen through. The potash miner also called on its shareholders to accept Anglo American’s takeover offer, without which it said it was highly likely the company would end up in administration.
Tullow Oil gushed lower after saying that the Marina-1 exploration well, drilled off the coast of Peru, did not discover significant hydrocarbons. Tullow hold a 35% interest in the well, while operator Karoon Energy holds a 40% interest and Pitkin Petroleum the remaining 25%.
The well will now be plugged and abandoned.
Avast was knocked lower by a downgrade to ‘reduce’ at Erste Bank, while engineer IMI was weaker after a downgrade to ‘underperform’ at Credit Suisse.
FTSE 250 - Risers
Bakkavor Group (BAKK) 140.00p 3.70%
Vivo Energy (VVO) 111.40p 3.15%
Kaz Minerals (KAZ) 510.40p 3.11%
Aston Martin Lagonda Global Holdings (AML) 433.00p 2.66%
Micro Focus International (MCRO) 822.50p 2.56%
Jupiter Fund Management (JUP) 406.30p 2.42%
Drax Group (DRX) 293.80p 2.23%
Helios Towers (HTWS) 145.10p 2.18%
PureTech Health (PRTC) 329.00p 2.17%
Diploma (DPLM) 2,036.00p 2.16%
FTSE 250 - Fallers
Sirius Minerals (SXX) 4.87p -7.75%
Tullow Oil (TLW) 43.30p -4.29%
Galliford Try (GFRD) 182.48p -4.18%
Softcat (SCT) 1,210.00p -3.82%
Bank of Georgia Group (BGEO) 1,735.00p -3.23%
Barr (A.G.) (BAG) 581.00p -2.35%
Avast (AVST) 440.00p -2.22%
IMI (IMI) 1,072.00p -2.10%
Capital & Counties Properties (CAPC) 243.70p -1.85%
Britvic (BVIC) 915.50p -1.82%