FTSE 250 Movers: Miners hit by Chinese data, Inmarsat boosted by new partnership

20th Nov 2014 14:26

Kaz Minerals' shares plummeted alongside other mining companies Ferrexpo, Lonmin, Vedanta, Evraz Hochschild Mining who took a hit following the release of unfavourable Chinese manufacturing data early on Thursday. The slowdown in the pace of manufacturing growth and wider economic concerns caused reluctance among investors.In a report issued on Thursday analysts at Credit Suisse declared themselves bearish on commodities. On a one-to-three year view they see the risk of a hard-landing in China as significant. In a bear-market 40% of production has to fall below cash costs (as with thermal coal), and that is not in the price. "Top down, we find ourselves most bearish on copper, aluminum and carbon steel," the broker said.UDG Healthcare was at the top pf the leaderboard after reporting a 7% rise in revenues to €1.09bn, 3% ahead of consensus, on the back of a strong performance for its two growth engines, Ashfield and Sharp. Earnings per share (EPS) advanced by 8% for the full year, coming in towards the higher end of guidance for EPS growth of between 5% to 9% at constant effective exchange rates. Share prices rose for Inmarsat following the announcement its technology partnership with Alcatel-Lucent .The companies will develop a new, fully integrated telecommunications network to deliver high-speed broadband services to commercial and business aviation passengers across the EU.Pace PLC saw it share's bolstered by favourable broker ratings. These included an 'overweight' rating by JPMorgan, a 'buy' rating from Peel Hunt and Canaccord Genuity, as well as a 'hold' rating from Liberum Capital.JD Sports also rose, ahead of its continued expansion of its fashion retail. Four new stores will launch next week alone in Bristol, Glasgow, Leicester and Dudley.