FTSE 250 movers: Telecity sinks on revenue prediction

12th Feb 2014 14:59

Data centre services group Telecity saw its shares dive after predicting 2014 revenue would be below that forecast by analysts following a good set of results for 2013. Liberum issued a 'sell' rating on the company saying the guidance was five per cent below its guidance. Engineering and project management consultancy Atkins inched lower despite saying it continued to trade in line with company expectations and its overall outlook for the full-year remains unchanged.Meanwhile, as on the top tier miners were lifted following positive comments from Goldman Sachs, which said: "We expect the miners to continue to perform well in the immediate short term, as the market focuses on better cashflow from volume growth, weaker FX, cost reductions and capex cuts." Leading the way was Kenmare Resources after broker Panmure Gordon upgraded the titanium miner to a 'buy' from 'hold', saying a potential debt restructuring should keep its finances robust beyond this financial year. Panmure, whose analysts visited Kenmare's Moma titanium mine in Mozambique last month, said the company had indicated that discussion with lenders torestructure outstanding loans was underway.After a weak start, African Barrick Gold leapt into positive territory after the shares were upgraded from 'sell' to 'neutral' by Westhouse Securities as the broker highlighted its confidence in full-year production guidance for 2014. The company's results released this morning revealed that it had swung to an annual loss because of impairment charges, although production beat guidance. The previous metals miner posted a net loss of $781m in the year ended December 31st, compared to earnings of $62m the previous year. Underlying earnings, on the other hand, came in at $106m (Westhouse Securities: $84.1m). UDG Healthcare climbed on the news it has agreed to sell its Specials business following its decision to focus on its core areas of operation. The business will be sold for £23.5m, which will be used to reduce group borrowings, thereby increasing its capacity to make future acquisitions in its core areas of operation. FTSE 250 - RisersKenmare Resources (KMR) 16.15p +4.87%esure Group (ESUR) 279.60p +2.42%BlackRock World Mining Trust (BRWM) 513.00p +2.29%Carillion (CLLN) 357.00p +2.23%African Barrick Gold (ABG) 245.20p +2.17%Ocado Group (OCDO) 575.00p +2.13%Redrow (RDW) 326.30p +1.97%Vedanta Resources (VED) 916.50p +1.89%Playtech (PTEC) 738.00p +1.86%St James's Place (STJ) 795.00p +1.86%FTSE 250 - FallersTelecity Group (TCY) 664.00p -9.04%Greencore Group (GNC) 241.00p -3.56%Cairn Energy (CNE) 200.40p -3.05%Genus (GNS) 1,237.00p -2.83%UK Commercial Property Trust (UKCM) 77.90p -2.26%Brewin Dolphin Holdings (BRW) 310.50p -2.24%888 Holdings (888) 142.40p -2.00%Oxford Instruments (OXIG) 1,525.00p -1.99%AL Noor Hospitals Group (ANH) 844.50p -1.92%Tullett Prebon (TLPR) 334.40p -1.91%NR