FTSE 250 movers: Kazakhmys extends rise on currency valuation change

14th Feb 2014 14:48

Copper miner Kazakhmys surged today, extending gains made earlier this week after the Kazakh government devalued its local currency which investors hope will lead to lower costs for the firm.Shares of Essar Energy are rocketing after the company announced that all main units have resumed operation at its UK refinery.Titanium miner Kenmare Resources climbed on the news it has struck a deal with lenders to restructure the finances of its flagship Moma mine in Mozambique. Kenmare said the agreement removes an obligation to repay all deferred subordinated debt by August 1st 2015 and reschedules all such debt unpaid as of July 31st 2015.Hikma Pharmaceuticals was higher after it reported a strong performance by its Injectables business ahead of the release of its 2013 results next month, which it said would now show a higher-than-expected revenue increase. The group said revenue for the 12-month period would now be around 23% above the prior year, compared to previous guidance of around 20%. Meanwhile, energy investment firm Riverstone Energy, which floated in London in October, rose after it said its investment pipeline remains robust as it reported its maiden results as a listed company. "It has been a relatively short time since listing but we are pleased to report positive progress," the group said.FTSE 250 - RisersKazakhmys (KAZ) 234.00p +13.43%Essar Energy (ESSR) 65.60p +9.33%Kenmare Resources (KMR) 16.89p +5.89%Hikma Pharmaceuticals (HIK) 1,299.00p +4.42%Euromoney Institutional Investor (ERM) 1,337.00p +3.88%Centamin (DI) (CEY) 52.20p +3.88%Diploma (DPLM) 725.00p +3.57%Polymetal International (POLY) 658.00p +3.38%Ferrexpo (FXPO) 173.60p +3.03%Evraz (EVR) 86.30p +2.98%FTSE 250 - FallersHome Retail Group (HOME) 181.20p -3.10%Daejan Holdings (DJAN) 4,875.00p -2.99%Riverstone Energy Limited (RSE) 910.00p -2.15%Rightmove (RMV) 2,730.00p -1.69%Debenhams (DEB) 74.70p -1.65%JD Sports Fashion (JD.) 1,416.00p -1.32%BH Global Ltd. USD Shares (BHGU) 11.4 -1.30%Redrow (RDW) 323.40p -1.25%Catlin Group Ltd. (CGL) 556.00p -1.16%Enterprise Inns (ETI) 152.20p -1.04%NR