FTSE 250 movers: Ferrexpo leads as miners leap

17th Oct 2012 16:12

As on the FTSE 100, second tier miners were also firmly higher, boosted by investor confidence ahead of the third quarter growth data due out from China, which is expected to increase demand for commodities. Metals futures were higher for gold, silver, platinum and copper. Cable & Wireless Communications has confirmed that it is also in talks regarding a potential sale of its business in Macau. Responding to recent press speculation, the international mobile communications networks operator confirmed it is in discussions with CITIC Telecom International Holdings regarding a potential sale of its 51% shareholding in Companhia de Telecomunicações de Macau (CTM). CITIC is a 20% shareholder in CTM. Bwin.party Digital Entertainment was boosted by fellow online gaming firm 888, which has raised full year earnings guidance after a strong third quarter and a good start to the fourth. Meanwhile, Carpetright fell as the market assessed yesterday's threadbare trading figures that management reported as 'meeting expectations', but which had Panmure Gordon issuing a 'sell' note and giving a price target of 400p. In a biting note, Philip Dorgan, an analyst at Panmure Gordon, wrote: "We are slightly surprised to see that UK second quarter like-for-like sales growth slowed from quarter one, given kitten soft comparables. However, gross margin guidance is retained and, despite a marked deterioration in the Netherlands, we don't expect that consensus forecasts will change. We remain sellers, because it will be a while before profits catch up with the valuation (66.2x prospective earnings)." FTSE 250 - RisersFerrexpo (FXPO) 206.30p +6.07%Lonmin (LMI) 520.50p +6.01%Home Retail Group (HOME) 109.70p +5.99%Inchcape (INCH) 374.80p +5.10%New World Resources A Shares (NWR) 271.10p +4.83%Petropavlovsk (POG) 461.10p +4.80%Chemring Group (CHG) 353.60p +4.58%Centamin (DI) (CEY) 103.60p +4.33%Cable & Wireless Communications (CWC) 37.66p +4.06%Bwin.party Digital Entertainment (BPTY) 121.10p +3.95%FTSE 250 - FallersCSR (CSR) 329.10p -3.52%Carpetright (CPR) 672.50p -2.96%Oxford Instruments (OXIG) 1,248.00p -2.65%Rightmove (RMV) 1,591.00p -2.63%Close Brothers Group (CBG) 840.50p -2.55%BTG (BTG) 359.00p -2.50%Interserve (IRV) 370.80p -2.16%Brown (N.) Group (BWNG) 300.80p -1.99%NMC Health (NMC) 183.80p -1.97%Micro Focus International (MCRO) 559.50p -1.67%NR