FTSE 250 movers: New World Resources falls on downgrade

9th Jul 2012 15:26

Head coal and coke producer New World Resources was a heavy faller after Bank of America Merrill Lynch downgraded its rating on the stock to 'underperform'. Kenmare Resources (following a profit-warning from titanium feed-stock producer Iluka), Centamin and Aquarius Platinum were also firmly out of favour. The selling pressure in gold miner Centamin was due to reports in an Egyptian newspaper, later denied by the firm, that the outfit has breached the terms of its concession in the country.Analysts at Exane BNP lowered their price target on Aquarius Platinum to 62p from 90p. Recruitment firm Michael Page dropped after saying it had seen a tough first half and expects more of the same in the third quarter. Internet gambling firm Betfair was lower after warning that it is considering legal action against Cyprus after the country banned online casinos and exchange betting. Avocet Mining shares bounced back sharply, making a welcome change following a 55% decline in the stock's share price over the past month and 66% over the past year. FTSE 250 - RisersAvocet Mining (AVM) 70.20p +11.43%Euromoney Institutional Investor (ERM) 783.50p +2.42%Dechra Pharmaceuticals (DPH) 497.50p +2.35%Balfour Beatty (BBY) 306.50p +1.93%Dixons Retail (DXNS) 17.92p +1.64%Home Retail Group (HOME) 84.30p +1.57%NMC Health (NMC) 203.00p +1.50%Raven Russia Ltd (RUS) 61.15p +1.49%BH Macro Ltd. EUR Shares (BHME) € 18.88 +1.45%Daejan Holdings (DJAN) 2,756.00p +1.40%FTSE 250 - FallersNew World Resources A Shares (NWR) 320.60p -10.45%Kenmare Resources (KMR) 34.32p -10.13%Centamin (DI) (CEY) 66.65p -9.26%Aquarius Platinum Ltd. (AQP) 42.08p -8.74%Ferrexpo (FXPO) 202.30p -7.92%Michael Page International (MPI) 350.50p -3.87%Lonmin (LMI) 699.50p -3.85%Elementis (ELM) 195.00p -3.75%Carillion (CLLN) 243.30p -3.22%Hunting (HTG) 715.00p -3.05%NR