FTSE 250 Movers: Miners fall, Bellway bucks trend

18th Oct 2011 14:33

Bellway was the top riser after it saw its full-year profits come in ahead of market expectations. Profit before tax in the year to the end of July hit £67.2m, up from £44.4m in 2010 and higher than the consensus forecast of £63.8m. However, it was the miners who were the big fallers, dominating the direction of the mid-cap index on concerns over the global economic outlook after some worrying data out in China. Chinese gross domestic product (GDP) expanded by 9.1% in the third quarter, slowing down from a 9.5% increase the quarter before. "The Chinese year-on-year GDP data was all the market needed today to ensure its downward fate was sealed," said Ben Taylor from spread-betting firm CMC Markets in London. Allied Gold led the way down, followed by New World Resources and Ferrexpo. Business events organiser and publisher UBM rose after reporting that underlying revenue for the nine months to the end of September rose 8.5% on the previous year to £706.2m. Adjusted operating profit at the publishers of Property Week and Farmer's Guardian rose by 16.4% to £127.5m giving a margin of 18.1% (Sept 2010: 17.0%). Following suit, Lamprell, a specialist engineering firm serving the oil and gas industry has announced the National Drilling Company (NDC) of Abu Dhabi is exercising its option for Lamprell to build two "jack-up rigs". A jack-up rig is a platform that can stay still on the sea floor but then be moved if necessary. Some have described them as "boats on stilts."FTSE 250 - RisersBellway (BWY) 700.00p +3.32%UBM (UBM) 480.50p +3.29%Kentz Corporation Ltd. (KENZ) 478.90p +2.99%SIG (SHI) 99.60p +2.79%Lamprell (LAM) 229.60p +2.50%Dunelm Group (DNLM) 472.50p +2.47%Sports Direct International (SPD) 236.90p +2.16%Cape (CIU) 470.90p +1.84%Rightmove (RMV) 1,270.00p +1.76%QinetiQ Group (QQ.) 118.00p +1.72%FTSE 250 - FallersAllied Gold Mining (ALD) 146.00p -5.62%Dixons Retail (DXNS) 11.61p -4.84%New World Resources A Shares (NWR) 487.30p -3.89%Jupiter Fund Management (JUP) 214.20p -3.12%Afren (AFR) 89.20p -3.04%Ferrexpo (FXPO) 320.40p -2.94%William Hill (WMH) 234.50p -2.90%Premier Foods (PFD) 4.65p -2.84%Fidelity China Special Situations (FCSS) 74.50p -2.80%3i Group (III) 199.10p -2.64%NR