FTSE 250 movers: Gold miners shine as yellow metal rallies; Trainline slumps

4th Nov 2026 15:21

(Sharecast News) - London's FTSE 250 was up 1% at 24,919.46 in afternoon trade on Wednesday.

Gold miners Hochschild and Endeavour shone as gold prices breached $4,000 an ounce as the dollar and US Treasury yields fell on the Democrat sweep in the US midterm elections.

David Morrison, senior market analyst at Trade Nation, said the trigger for the rebound in gold and silver prices was the sharp pullback in the US dollar. And that, in turn, was catalysed by the decisiveness of the US midterm results which saw the Democrats win majorities in both the House and Senate.

"This is, of course, great news for the bulls who have had to endure a downside correction in precious metals which is now entering its tenth month. The last two months have been particularly soul destroying, following an attempted upside breakout over the summer which peaked in late August. Since then, gold and silver have steadily ground lower, effectively squeezing the life out of the bull trade.

"The question now is, once again, have they bottomed? It remains too early to know, although the signs look promising, particularly if gold can hold above $4,000. But it would be typical of the two precious metals to suck in fresh buying, only to turn down once again and hit fresh cycle lows. So, proceed with great caution, and keep a close eye on the depth of future pullbacks."

Trainline lost ground despite posting improved interim earnings and reaffirmed guidance, after its international business swung into the black for the first time. The booking platform saw net ticket sales edge up to £3.26bn in the six months to August end from £3.25bn a year previously, while revenues softened 1% to £233m, after UK refund rules were tightened.

But adjusted earnings before interest, tax, depreciation and amortisation were 7% higher at £100m, after a strong performance in the international consumer division helped offset weaker trading in the UK. Revenues in UK consumer fell 5% at £102m but rose 2% to £34m overseas. Trainline Solutions, its business-to-business unit, posted a 3% uplift in sales to £97m.

Defence technology firm QinetiQ was in the red amid expectations the outcome of the US midterms would lead to lower spending on defence.

FTSE 250 - Risers

Ceres Power Holdings (CWR) 290.20p 6.45%

Hochschild Mining (HOC) 456.80p 5.94%

Endeavour Mining (EDV) 3,762.00p 5.59%

Shawbrook Group (SHAW) 298.25p 5.39%

Close Brothers Group (CBG) 406.60p 5.21%

TBC Bank Group (TBCG) 4,882.00p 5.09%

Pan African Resources (PAF) 109.90p 5.08%

Mony Group (MONY) 214.80p 4.48%

Wizz Air Holdings (WIZZ) 1,055.00p 4.46%

WH Smith (SMWH) 446.40p 4.15%

FTSE 250 - Fallers

EnQuest (ENQ) 28.25p -4.56%

XP Power Ltd. (DI) (XPP) 1,670.00p -3.02%

Hill and Smith (HILS) 2,895.00p -3.00%

Renishaw (RSW) 5,105.00p -2.75%

Discoverie Group (DSCV) 811.00p -2.74%

Trainline (TRN) 209.00p -2.63%

Avon Technologies (AVON) 2,425.00p -2.59%

Serco Group (SRP) 284.80p -2.53%

Diversified Energy Company (DI) (DEC) 1,006.00p -2.52%

QinetiQ Group (QQ.) 539.00p -2.00%