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FTSE 250 movers: Greencore and banks gain while gold miners fall

Mon, 14th Nov 2016 14:05

(ShareCast News) - The FTSE 250 index was in positive territory, just shy of 17,500, by the late afternoon on Monday.Irish food company Greencore led the risers, gaining on the back of jump in full-year revenue and earnings, a hike in its dividend and the proposed acquisition of Peacock Foods for an enterprise value of $747.5m.Banks of all sizes, including challengers like OneSavings Bank, Shawbrook and Aldermore, were given a boost as treasury yields were on the rise from investor expectations of an earlier hike in interest rates from the US Federal Reserve in December after Donald Trump was elected president. Ipek Ozkardeskaya, senior market analyst at London Capital Group, said: "The US 30-year yields hit 3% for the first time since January, leading banks to see the end of the tunnel, as higher yields finally suggest a period of relief for financial services sector that has seen its revenues heavily squeezed by the low-to-negative yield environment over the past years."Mid-cap housebuilder Crest Nicholson climbed after larger peer Taylor Wimpey said the UK housing market remained resilient, despite the implications of Brexit being unclear.Gaming software development company Playtech gained ground as it announced that it has agreed to buy Consolidated Financial Holdings for up to $120m - a deal it said will enhance its position as it continues to build a B2B offering in its financials division.Meanwhile gold miners Centamin and Hochschild fell as gold prices took a 0.51% dive as a result of the US presidential result. "Gold miners are down this morning as the market braces for higher interest rates following the election of Donald Trump. Higher interest rates increase the effective cost of holding gold, making it less attractive to investors," said analyst Nicholas Hyett at Hargreaves Lansdown.Tullow Oil fell as oil prices took a hit with Brent Crude dropping 0.7% to $44/44 and WTI down by 0.9% to $43.02 in the late afternoon. "Oil was shaky on Monday as the heightened fears over the persistent oversupply of oil in the global markets haunted investor attraction. The Dollar resurgence amid rising US rate hike expectations simply pressured oil prices further with concerns that demand may be waning from slowing global growth capping oils upside gains," said FXTM analyst Lukman Otunuga.RisersGreencore Group (GNC) 329.50p 12.88%Shawbrook Group (SHAW) 262.40p 5.47%OneSavings Bank (OSB) 321.50p 4.05%Crest Nicholson Holdings (CRST) 453.80p 3.99%Paragon Group Of Companies (PAG) 351.90p 3.29%Aldermore Group (ALD) 203.90p 3.19%Playtech (PTEC) 910.50p 3.17%GVC Holdings (GVC) 644.50p 3.04%International Personal Finance (IPF) 282.30p 2.65%Marshalls (MSLH) 279.20p 2.61%FallersCentamin (DI) (CEY) 135.60p -3.90%Pennon Group (PNN) 765.50p -3.65%Tullow Oil (TLW) 238.90p -3.20%Hochschild Mining (HOC) 238.90p -3.20%Drax Group (DRX) 293.00p -2.98%AO World (AO.) 166.00p -2.18%Acacia Mining (ACA) 443.40p -1.97%DFS Furniture (DFS) 221.60p -1.95%Fidelity European Values (FEV) 173.20p -1.65%Ascential (ASCL) 285.40p -1.59%
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24 Jan 2012 07:52

Allied Gold hopes for sparkling 2012

FTSE250 miner Allied gold has said it aims to up production by 75% in 2012 as it improves recovery methods and efficiency. In the year to the end of December, the firm took 108,338 ounces of gold out of the ground. It predicts this will rise to around 180,000 ounces in 2012 from its sites in Papua

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5 Jan 2012 12:50

FTSE 250 Movers: Energy and mining rise despite falling prices

Oil and gas producers were on the rise despite falling energy prices, with Afren, Ophir Energy, and Exillon Energy all higher. Miners followed suit despite the ongoing economic woes. Allied Gold, the Pacific Rim-focused gold producer, advanced on news it has agreed a new three-year $80m gold loan

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5 Jan 2012 07:26

Allied Gold agrees gold loan

Allied Gold, the Pacific Rim-focused gold producer, has agreed a new three-year $80m gold loan with RK Mine Finance. The agreement means Allied must pay back the $80m in physical gold. The total repayable will be measured in ounces at a reference price of $1,500 per ounce; this equates to a notio

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3 Jan 2012 15:16

FTSE 250 Movers: Talvivaara races into pole position

Talvivaara Mining saw its share price rocket into the top spot on the FTSE 250 after it announced that it has reached its production target for 2011. Full year production totalled 16,087 tonnes (t) of nickel and 31,815t of zinc, while fourth quarter production of 4,769t nickel and 10,524t zinc was

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9 Dec 2011 15:11

FTSE 250 Movers: Thomas Cook in pole position

Thomas Cook occupied the top spot once again, one week before being unceromoniously booted off the footsie 250. Recovering from the blow, shares rose 6%, boosted by news that Thomas Cook India, the country's largest integrated travel financial services company, was selected as the 'Favourite Speci

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30 Nov 2011 15:44

FTSE 250 Movers: Miners rocket on central bank action

Miners dominated the risers on the FTSE 250 on Wednesday after news that central banks are working together to ease strains in the financial markets sent stocks soaring. The mining sector swung into the blue, despite falling earlier on, after the People's Bank of China (PBOC) had lowered the legal

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21 Nov 2011 13:02

FTSE 250 movers: Miners tumble on global fears

The mining sector suffered some heavy losses on Monday as concerns of the global economy weighed on sector sentiment, and metals prices. Centamin Egypt, Kenmare Resources, Aquarius Platinum, Petropavlovsk and Allied Gold Mining were among the worst performers on the FTSE 250. While the miners bo

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18 Nov 2011 15:21

FTSE 250 Movers: Chemring comes under fire

Military decoy flare and mine detection firm Chemring was the biggest faller after it said unexpected delays in customer orders means full-year revenues will be around 5% below the board's expectations, while operating profit will be shy of market projections. In contrast, struggling foods manufac

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31 Oct 2011 07:21

Allied Gold runs into trouble at Simberi mine

Allied Gold Mining saw a rise in gold production for the quarter ended 30 September compared to the previous three months. Group gold production in the third quarter totalled 36,085 ounces compared to 28,344 ounces during the second quarter. Meanwhile, the average gold sales price was $1,751 in

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19 Oct 2011 14:35

Rolls-Royce America boss pockets £850,000

James Guyette, president and chief executive of Rolls-Royce's North American operations, has pocketed about £850,000 from the sale of a chink of his holding in the aeroplane engine maker. He sold 122,560 shares at 696p a time, but still has 274,796. The sale of the shares comes in the midst of a s

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18 Oct 2011 14:33

FTSE 250 Movers: Miners fall, Bellway bucks trend

Bellway was the top riser after it saw its full-year profits come in ahead of market expectations. Profit before tax in the year to the end of July hit £67.2m, up from £44.4m in 2010 and higher than the consensus forecast of £63.8m. However, it was the miners who were the big fallers, dominating t

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