LONDON (ShareCast) - (Sharecast News) - London's FTSE 250 index was down 0.19% at 19,885.84 in afternoon trade on Wednesday, as Ferrexpo led the drop on the back of stuttering iron ore prices.
The Swiss iron ore miner and commodity trader was the top faller ahead of the release of its full-year results next week as iron ore prices fell on the news that Vale has been given the go-ahead to restart operations at its Brucutu mine in Brazil following the Brumadinho dam collapse disaster in January.

Galliford Try dropped after analysts at Liberum slashed the stock's price target from 970p to 865p, with analysts stating they were "convinced that the £30-40m profit hit flagged by the group is essentially one-off in nature."

Utility supplier Telecom Plus lost ground as it warned that full-year profit would be lower-than-expected as the UK government's price cap hit results in the final quarter.

At the other end of the index, Mediclinic gained after saying full-year core profit is expected to drop by 3.5%, in line with market expectations.

Analysts from JPMorgan Cazenove quoted in the Financial Times said: "Guidance for South Africa and the Middle East was weaker than expected and will likely require cuts to earnings [forecasts], but we would expect the positive news on Switzerland to outweigh the negatives elsewhere . . . We still think conditions will be tough in Switzerland in coming periods, but the doomsday scenario would now appear less likely."

Countryside Properties rallied as the housebuilder said it was on track to deliver full-year results in line with expectations, posted a 43% jump in first-half completions and announced the departure of its chief operating officer.

Greetings card retailer Card Factory continued to climb after having posted a drop in full-year underlying profit and like-for-like sales, but a rise in revenue amid a "tough" consumer environment and a drop in footfall across the high street in the previous session.

Finally, high street sportswear chain JD Sports climbed after Berenberg analysts raised its target price from 570p to 690p following the release of strong annual results on Tuesday.

Market Movers

FTSE 250 (MCX) 19,885.84 -0.19%


FTSE 250 - Risers

Mediclinic International (MDC) 328.20p 8.03%
Countryside Properties (CSP) 338.00p 5.68%
Saga (SAGA) 59.35p 4.16%
Card Factory (CARD) 201.80p 4.00%
JD Sports Fashion (JD.) 595.80p 3.33%
Greencore Group (GNC) 223.60p 2.76%
Metro Bank (MTRO) 847.50p 2.54%
Clarkson (CKN) 2,410.00p 2.12%
FirstGroup (FGP) 102.00p 2.00%
IntegraFin Holding (IHP) 378.85p 1.84%

FTSE 250 - Fallers

Ferrexpo (FXPO) 287.70p -4.65%
Galliford Try (GFRD) 554.36p -3.84%
Telecom Plus (TEP) 1,434.00p -3.76%
NewRiver REIT (NRR) 237.00p -3.66%
Safestore Holdings (SAFE) 624.50p -3.55%
Contour Global (GLO) 202.50p -3.34%
Games Workshop Group (GAW) 3,847.06p -3.19%
WH Smith (SMWH) 2,072.00p -3.00%
UDG Healthcare Public Limited Company (UDG) 627.50p -2.94%
McCarthy & Stone (MCS) 127.40p -2.90%

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