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FTSE 250 movers: Centamin rises on record production

Wed, 9th Jan 2013 15:28

Egypt-focused gold mining and exporting company Centamin has posted record production at its Sukari Gold Mine for the final quarter of 2012.

During the three month period gold production totalled 85,543 ounces, up 45% on the same period the previous year and 40% higher than that generated in the third quarter.

This brought full year production to 262,958, a 30% increase on 2011 and above guidance of 250,000 ounces.

African Barrick Gold (ABG) was recovering after yesterday dropping on the news that Canadian miner Barrick Gold abandoned plans to sell its majority stake in ABG to a Chinese buyer. Today's gains came despite Deutsche Bank reducing its target price from 520p to 490p and Nomura cutting its target price from 525p to 435p and downgrading the stock from buy to neutral.

Meanwhile, Restaurant and pub operator Restaurant Group fell after it cautioned that trading conditions in 2012 are likely to persist in 2013.

UBM was also lower after Goldman Sachs cut the stock to buy from conviction buy, and reduced its target price from 975p to 910p.

FTSE 250 - Risers

Centamin (DI) (CEY) 51.25p +16.00%

African Barrick Gold (ABG) 375.30p +6.59%

Travis Perkins (TPK) 1,165.00p +4.20%

RPS Group (RPS) 226.90p +3.61%

Cable & Wireless Communications (CWC) 37.70p +3.43%

Cairn Energy (CNE) 286.20p +3.40%

Balfour Beatty (BBY) 290.70p +3.27%

AZ Electronic Materials SA (DI) (AZEM) 368.60p +3.10%

Hays (HAS) 87.15p +3.08%

Ferrexpo (FXPO) 281.00p +2.93%

FTSE 250 - Fallers

FirstGroup (FGP) 197.00p -3.90%

Petra Diamonds Ltd.(DI) (PDL) 113.10p -2.50%

Debenhams (DEB) 105.40p -2.50%

Restaurant Group (RTN) 373.40p -2.30%

UBM (UBM) 717.50p -2.11%

Dunelm Group (DNLM) 696.00p -1.97%

Supergroup (SGP) 534.00p -1.93%

Unite Group (UTG) 270.50p -1.85%

St. Modwen Properties (SMP) 236.70p -1.82%

Enterprise Inns (ETI) 101.30p -1.75%

NR

Related Shares: UBM (UBM), Restaurant Group (RTN), Centamin (DI) (CEY).

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