FTSE 250 Movers: Precious metals stocks shine

3rd Aug 2011 15:11

Precious metals stocks are in demand as investors look for a haven amid the current worries over the debt situation in the US and several Eurozone countries.South American gold and silver miner Hochschild, Russian gold miner Petropavlovsk and the self-explanatorily-named African Barrick Gold are all posing good gains. Funeral services group Dignity is lifted by a note from Panmure Gordon, which lifts its price target on the stock to 955p from 872p. Panmure likes Dignity's "safe haven" qualities.Broker note is harming Misys though. RBS has downgraded financial software provider from buy to hold, saying that the stock is "up with events". "With patchy trading and weaker end market demand, the current valuation increasingly rests on the outcome of an approach from [US-based payment services provider Fidelity National Information Services], we believe. With no visibility on when this might come and at what price, we move to hold," the broker said. The target price is raised from 360p to 367p. Cobham is under attack ahead of the defence products group's interim results tomorrow, even after it announced today that it has been awarded nine task orders which will support the US Missile Defense Agency (MDA) at a total of $227m.FTSE 250 - RisersHochschild Mining (HOC) 505.00p +3.89%Tullett Prebon (TLPR) 367.10p +3.47%Halfords Group (HFD) 312.30p +2.73%Meggitt (MGGT) 384.70p +2.23%African Barrick Gold (ABG) 502.50p +2.01%Petropavlovsk (POG) 766.00p +1.79%Grainger (GRI) 113.70p +1.52%Dignity (DTY) 835.50p +1.27%Fidessa Group (FDSA) 1,702.00p +1.07%Spirit Pub Company (SPRT) 50.50p +1.00%FTSE 250 - FallersMisys (MSY) 355.00p -6.82%Imagination Technologies Group (IMG) 358.90p -6.78%Spectris (SXS) 1,397.00p -6.56%Kofax (KFX) 307.90p -5.84%Beazley (BEZ) 120.50p -5.49%Cobham (COB) 178.80p -5.30%Morgan Crucible Co (MGCR) 297.10p -4.87%Bodycote (BOY) 348.50p -4.73%Hikma Pharmaceuticals (HIK) 639.50p -4.62%AZ Electronic Materials SA (WI) (AZEM) 250.70p -4.31%