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FTSE 250 movers: Kaz Minerals brings up the rear amidst North Korea jitters

Fri, 11th Aug 2017 11:52


(ShareCast News) - The FTSE 250 was down 1.02% in early afternoon trading as the week headed towards its conclusion amidst ongoing geopolitical tension following ping-pong threats from the US and North Korea.

Kaz Minerals was at the bottom of the pile during with other mining and commodity stocks trading lower as well, with gold and other safe havens among the few segments of the market that were performing well.

Dixons Carphone was also among the top fallers after the electronics firm was hit by a double downgrade to 'underperform' out of Exane BNP Paribas.

On the opposite end of the leaderboard, wealth manager Rathbone Brothers surged to the top even as as investors struggled for direction with little corporate and economic news of note.

Acacia Mining pushed higher as gold and mining stocks saw gains, as so often happens with so-called 'safe havens' during times of political conflict.

Donald Trump's war of words with North Korea shows no signs of letting up as the weekend approaches, increasing risk for investors according to Oanda analyst Craig Erlam.

"The war of words between Donald Trump and North Korean officials has stepped up in recent days and has put investors on edge, prompting a more risk averse approach in the markets," Erlam said.

"The weekend brings an undefined amount of risk for investors, with the potential for circumstances to escalate both dramatically and unexpectedly at a time when markets are closed."




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