FTSE 250 movers: Ashmore dives as profits sink by a third

25th Feb 2014 15:30

Asset manager Ashmore was at the bottom of the pile after its first-half profits fell by a third as it counted the cost of investor wariness over emerging markets against a backdrop of the US winding down its bond-buying stimulus programme. The news prompted Canaccord to downgrade the stock to 'hold'. De La Rue fell on the news its Chief Executive is moving to UBM next month. Miners fell heavily as concerns about China, which is the largest metals consumer in the world, dragged sentiment lower and metals prices moved into the red. Investors are concerned that Chinese lenders could be cutting back on credits to property developers. Centamin, Lonmin, Evrax, Vedanta, and Polymetal were all sharply lower this afternoon. Meanwhile, St James's Place shares rocketed after the financial advisory firm reported a strong set of full-year results. Shore Capital helped the stock higher, reiterating its 'buy' rating, saying "the shares have had a terrific run in recent months and now trade at a 30% premium to our 2014 net asset value of 610p". Greencore Group, an international manufacturer of convenience food, jumped after announcing it has acquired Lettieri's, a US-based manufacturer of food-to-go products. The company also unveiled plans to invest around $10.0m (£6.0m) in its Jacksonville facility in Florida in order to create the capability to manufacture frozen food-to-go products, which Lettieri's specialises in. Veterinary drug group Dechra Pharmaceuticals rose after boosting half-year revenue in most of its markets and despite a disappointing performance in the Netherlands.NMC, the private healthcare provider focused on the United Arab Emirates, was also on the up after telling investors it was confident of generating further good growth in its core market over 2014. Upmarket London property developer Capital & Counties Properties moved higher after it said progress in regenerating iconic London sites had helped it boost its total portfolio value by a fifth.FTSE 250 - RisersSt James's Place (STJ) 836.00p +5.22%Greencore Group (GNC) 245.90p +3.32%Paragon Group Of Companies (PAG) 407.50p +2.67%Dechra Pharmaceuticals (DPH) 696.00p +2.58%JD Sports Fashion (JD.) 1,525.00p +2.35%Spirent Communications (SPT) 105.80p +2.32%Britvic (BVIC) 759.50p +2.01%Dixons Retail (DXNS) 51.20p +1.79%Capital & Counties Properties (CAPC) 387.80p +1.70%NMC Health (NMC) 454.70p +1.65%FTSE 250 - FallersAshmore Group (ASHM) 311.70p -8.32%Centamin (DI) (CEY) 54.75p -5.28%Lonmin (LMI) 297.50p -4.65%Evraz (EVR) 76.65p -4.37%Cable & Wireless Communications (CWC) 54.55p -3.88%Vedanta Resources (VED) 837.00p -3.63%Polymetal International (POLY) 640.00p -3.10%Pace (PIC) 404.60p -2.97%Countrywide (CWD) 611.50p -2.63%Fidelity China Special Situations (FCSS) 104.50p -2.34%NR