FTSE 250 movers: Crest Nicholson leads risers

17th Jun 2014 15:15

Surrey-based house builder Crest Nicholson said business has continued to flourish in a good housing market and, with an improving economic backdrop, it remains confident for the full-year. Pre-tax profit rose to £38.4m for the six months ended April 30th from £28.1m,, while revenue for the period advanced to £241.1m from £192m a year earlier. An interim dividend of 4.1p has been proposed compared to no payment in 2013. Earnings per share surged 32%.Fellow housebuilder Redrow was also higher as stocks rebounded from heavy losses last week on concerns that a sooner-than-expected rate rise could curb the demand for new homes.Kazakhmys has welcomed the government of Kazakhstan's decision to lower the mineral extraction tax (MET) rates at several of its nature assets, namely the Zhezkazgan Region, excluding Zhomart mine, and at Konyrat mine in the Central Region. Both regions have already been identified for possible sale, having been affected by declining grade and low profitability. The mining group Kazakhmys also said it had completed the acquisition of Koksay, its third major growth project, for $260m in cash. Meanwhile, industrial print-head group Xaar has lowered its guidance for full-year revenues and profit margin after the exceptional market for ceramic tile manufacturing returned to more normal levels. The company said revenue for full-year 2014 would be around £130m, or 3% lower than the £134m achieved in 2013, and weighted more to the second half. Numis downgraded its rating from 'buy' to 'hold' with a target price of 800p.With the geopolitical tensions in Iraq weighing heavily on sentiment, the volatile mining sector was, unsurprisingly, headed south. Evraz and Polymetal were both notable fallers. FTSE 250 - RisersCrest Nicholson Holdings (CRST) 337.60p +3.88%Kazakhmys (KAZ) 291.40p +2.61%Redrow (RDW) 256.20p +1.91%TR Property Inv Trust (TRY) 259.20p +1.77%Ferrexpo (FXPO) 126.20p +1.28%Infinis Energy (INFI) 219.40p +1.11%NMC Health (NMC) 445.10p +0.93%WH Smith (SMWH) 1,085.00p +0.93%Inmarsat (ISAT) 737.00p +0.89%Entertainment One Limited (ETO) 301.80p +0.87%FTSE 250 - FallersXaar (XAR) 558.00p -24.85%Evraz (EVR) 87.05p -5.38%Polymetal International (POLY) 520.50p -4.23%Big Yellow Group (BYG) 463.80p -4.13%Foxtons Group (FOXT) 279.50p -3.79%Thomas Cook Group (TCG) 136.40p -3.60%Cranswick (CWK) 1,233.00p -3.37%Supergroup (SGP) 874.50p -3.37%Grainger (GRI) 207.60p -3.31%Workspace Group (WKP) 583.50p -3.15%NR