FTSE 250 movers: African Barrick Gold hit by 'sell' rating from Citigroup

2nd Dec 2013 15:47

African Barrick Gold declined after Citigroup restated its 'sell' rating on the mining stock. Looking ahead to 2014, the bank said: "Economic improvement should keep the 'insurance' demand for gold and silver as a commodity subdued, given that credit-crisis nerves are fading," the broker said.Mining stocks in general were in the red, tracking metal prices lower. Other notable fallers included Kazakhmys, Polymetal International and Ferrexpo. Polymetal International fell despite the news it has entered into a five-year facility agreement with JSC Sberbank of Russia. The $400m funds will be drawn down to repay its existing loans and to finance ongoing operations. Car parts retailer Halfords declined following a rating downgrade from JP Morgan to 'neutral' from 'overweight'. The group's share price has made strong gains in recent times, prompting the move. Euromoney Institutional Investor continued to gain after Westhouse Securities on Friday upped its target price on the stock from 898p to 1,110p. Pub group Enterprise Inns rebounded from Friday's heavy losses to become today's strongest riser on the FTSE 250. FTSE 250 - RisersEnterprise Inns (ETI) 141.20p +2.32%Euromoney Institutional Investor (ERM) 1,270.00p +2.17%Ted Baker (TED) 2,044.00p +2.10%Cranswick (CWK) 1,159.00p +1.58%Homeserve (HSV) 260.00p +1.32%Greencore Group (GNC) 194.70p +1.14%Thomas Cook Group (TCG) 175.40p +0.92%BH Global Ltd. GBP Shares (BHGG) 1,208.00p +0.83%Greene King (GNK) 878.50p +0.75%Millennium & Copthorne Hotels (MLC) 589.00p +0.68%FTSE 250 - FallersRank Group (RNK) 139.50p -5.10%African Barrick Gold (ABG) 163.20p -4.62%IP Group (IPO) 183.30p -4.53%Kazakhmys (KAZ) 226.80p -4.42%Halfords Group (HFD) 468.40p -4.09%Carpetright (CPR) 579.00p -3.82%Rotork (ROR) 2,742.00p -3.45%Polymetal International (POLY) 515.50p -3.37%Keller Group (KLR) 1,025.00p -3.21%Ferrexpo (FXPO) 175.00p -3.21%NR