FTSE 250 movers: Miners a drag on second tier

(ShareCast News) - The FTSE 250 continued to slide on Monday, dropping 188.52 points (1.17%) to 15,972.08 by mid-afternoon.Vedanta Resources led a bunch of miners featuring on the fallers list, after JP Morgan Cazenove re-evaluated its stance on the mining sector.In a note released on Monday, the investment bank said 2016 was shaping up as tough for the sector even before the drop in China's markets. "Our recommendation structure reflects a negative bias, with growing risk of capital raisings across the sector," analysts wrote, noting that 65% of companies covered would have a ratio of net debt to EBITDA greater than 3 times in 2017 if spot prices fall 10%.It also highlighted a number of reasons for a challenging year ahead. "The US$ is expected to remain strong, most commodities are in oversupply and China continues to slow and tilt away from investment." That sent shares in Vedanta down, as well as Acacia Mining.Peer Centamin took a hit despite reports in the Financial Times that industry gold production was set to decline by 3% in the year ahead, following a 1% increase in gold mine production to 3,155 tonnes in 2015. In remarks to the newspaper, Kelvin Dushnisky, the president of Barrick Gold, added a lack of new developments and extended project development timelines to the list of factors that in his opinion were bullish for gold's medium and long-term price outlook.On the other side of the ledger, shares in Amec Foster Wheeler were up, following a brief trading update in which it revealed chief executive Samir Brikho is stepping down from his role. The oilfield services company said results for 2015 were in line with expectations, while trading for this year has also started in line. In addition, Amec said its credit facilities are progressing to plan.Chief financial officer Ian McHoul has been appointed to the role of interim CEO with immediate effect and will chair the group leadership team while the search for a new chief executive is conducted. Amec said it would consider both internal and external candidates, adding that McHoul is not putting himself forward for the role.Top of the leaderboard was Aldermore as the Bank of England said it would look at demands from Treasury Select Committee chairman Andrew Tyrie for the BoE to reveal how much more capital challenger banks are required to hold in comparison to larger competitors. Tyrie wants to focus on boosting competition in the sector.FTSE 250 - RisersAldermore Group (ALD) 187.70p 3.70%Rathbone Brothers (RAT) 2,173.00p 2.26%Moneysupermarket.com Group (MONY) 319.00p 1.69%Amec Foster Wheeler (AMFW) 394.80p 1.67%Go-Ahead Group (GOG) 2,495.00p 1.51%CLS Holdings (CLI) 1,683.00p 1.32%Telecom Plus (TEP) 921.50p 1.15%Big Yellow Group (BYG) 730.00p 1.11%Close Brothers Group (CBG) 1,270.00p 1.03%Daejan Holdings (DJAN) 6,160.00p 0.98%FTSE 250 - FallersVedanta Resources (VED) 203.40p -9.72%Allied Minds (ALM) 305.00p -7.52%Ophir Energy (OPHR) 80.40p -5.47%Acacia Mining (ACA) 159.00p -5.36%Morgan Advanced Materials (MGAM) 211.20p -5.25%International Personal Finance (IPF) 241.40p -5.15%Ocado Group (OCDO) 241.90p -4.99%Centamin (DI) (CEY) 62.75p -4.92%Diploma (DPLM) 662.00p -4.68%Marshalls (MSLH) 310.10p -4.64%