FTSE 250 movers: CSR climbs on strategy change

10th Dec 2013 15:39

CSR was leading the risers after announcing that it has decided to discontinue development of its camera-on-a-chip (COACH) platform, which has been sustaining losses from weak demand. The new prompted Numis Securities to maintain a 'buy' rating for the group, saying "the news is positive in increasing focus on segments where CSR has strong market positions and where there is good visibility on future growth (audio/auto/bluetooth smart)". African Barrick Gold also cheered its investors, in this case with the news it has completed the final step in the lifting of the Environmental Protection Order that has been in force at North Mara in Tanzania since 2009. The group said it had received a formal discharge permit from the Lake Victoria Water Board following the completion of an extensive joint water sampling programme, rehabilitation of affected areas, a community awareness programme and the commissioning of a water treatment plant at the mine. Balfour Beatty also moved after it agreed to sell its Scandinavian Rail business to Strukton Rail for £4m.Meanwhile, Essar Energy declined sharply, which is most likely linked to reports that Kenya has withdrawn its plans for a refinery with the company. According to reports, Kenya's Energy and Petroleum Cabinet Secretary, Davis Chirchir, confirmed on local radio that ties with the group would be cut and the Kipevu refinery converted into a storage facility for oil. Shaken by predictions they will be bumped off the FTSE 250 as of tomorrow, both John Menzies and Dialight were firmly in the red. FTSE 250 - RisersCSR (CSR) 563.00p +10.39%Hochschild Mining (HOC) 128.00p +5.00%African Barrick Gold (ABG) 164.50p +4.78%Kenmare Resources (KMR) 19.85p +4.64%Victrex (VCT) 1,631.00p +4.22%Rank Group (RNK) 138.00p +3.76%Savills (SVS) 641.50p +3.72%Polymetal International (POLY) 522.50p +3.06%Elementis (ELM) 260.20p +2.89%Tullett Prebon (TLPR) 344.50p +2.81%FTSE 250 - FallersEssar Energy (ESSR) 67.60p -7.71%Dialight (DIA) 846.50p -3.81%Enterprise Inns (ETI) 139.20p -2.32%Bodycote (BOY) 615.50p -2.30%Halfords Group (HFD) 466.50p -2.20%Premier Farnell (PFL) 209.70p -2.15%Stagecoach Group (SGC) 359.10p -1.91%Kazakhmys (KAZ) 209.30p -1.88%Menzies(John) (MNZS) 762.00p -1.61%esure Group (ESUR) 246.00p -1.60%NR