FTSE 250 movers: Kenmare falls on reduced production guidance

28th Nov 2012 15:18

Kenmare Resources, the titanium feedstock miner, was down after warning that as a result of production issues, it expects its full-year production to be lower than previous guidance of 630,000 tonnes of ilmenite and 50,000 tonnes of zircon. Insurance group Lancashire Holdings was another heavy faller after going ex-dividend. Nickel miner Talvivaara disappointed after re-assessing its production targets following the gypsum pond leakage which stopped operations earlier this month. The company now expects full-year output to reach 13,000t of nickel, well below the previous 17,000t estimate. Mitchells & Butlers continued to fall one day after delivering worse-than-expected full-year results and admitted it had made a slow start to the new financial year, partly because of unseasonably warm weather in the same period in 2011. Meanwhile, Ultra Electronics rose after Citigroup inititated its coverage on the stock with a 1,750p target price and a buy recommendation. Talk Talk Telecom got a boost after Nomura increased its target price from 190p to 275p and maintained its buy rating on the stock. Distribution firm John Menzies was also higher after revealing that it has reached agreement for Menzies Distribution, its newspaper and magazine wholesaling subsidiary, to acquire the entire issued share capital of Orbital Marketing Services Group, a portfolio of UK based logistics and marketing services businesses. FTSE 250 - RisersUltra Electronics Holdings (ULE) 1,577.00p +3.07%TalkTalk Telecom Group (TALK) 219.10p +2.86%New World Resources A Shares (NWR) 259.00p +2.66%Menzies(John) (MNZS) 588.00p +2.62%JD Sports Fashion (JD.) 718.50p +2.28%Stagecoach Group (SGC) 281.20p +2.07%Debenhams (DEB) 115.80p +2.03%BBA Aviation (BBA) 207.00p +1.97%Ruspetro (RPO) 86.50p +1.94%Big Yellow Group (BYG) 337.90p +1.72%FTSE 250 - FallersKenmare Resources (KMR) 30.47p -8.94%Lancashire Holdings (LRE) 785.50p -7.97%Centamin (DI) (CEY) 55.50p -7.04%Lonmin (LMI) 255.80p -6.98%Talvivaara Mining Company (TALV) 93.50p -5.94%Intermediate Capital Group (ICP) 285.80p -3.97%Petropavlovsk (POG) 337.00p -3.88%Dialight (DIA) 1,067.00p -3.18%Mitchells & Butlers (MAB) 303.00p -2.92%Dixons Retail (DXNS) 26.15p -2.79%NR