FTSE 250 movers: Miners gain ground on China cheer, but Funding Circle drops
By Duncan Ferris
Date: Friday 04 Jan 2019
(Sharecast News) - London's FTSE 250 was up 1.38% at 17,680.04 in afternoon trade on Friday, underpinned by a strong performance from miners and oilers.
Opioid addiction treatment developer Indivior led the charge for risers on the index, while oil producers and service providers also gained as crude prices picked up further amid signs of lower crude supply and strong economic data, with Premier Oil, Tullow Oil, Vivo Energy and Weir Group all in the green.
Miners Ferrexpo and Kaz Minerals also made gains as it emerged that US and China will hold vice-ministerial level negotiations over trade in Beijing on 7-8 January. They were also lifted by upbeat Chinese services data and news of more economic stimulus form the PBOC.
The Caixin China services purchasing managers' index ticked up 53.9 in December from 53.8 in November, beating expectations for a reading of 52.9.
In addition, the People's Bank of China said it would be cutting the required reserve ratio for banks by 0.5 percentage point on 15 January, with a further 0.5 percentage point cut on 25 January. China's central bank said the cut will release a net 800 billion yuan ($116 billion) of liquidity.
Peer-to-peer lending marketplace Funding Circle was the top faller after the latest data from the Bank of England revealed that consumer lending grew at its slowest pace in nearly four years over November, with annual growth in unsecured consumer lending slowing to 7.1% from 7.4% the month before.
Private healthcare company Mediclinic International dropped as the Medicines and Healthcare products Regulatory Agency addressed ongoing concerns that an increasingly likely 'no deal' Brexit scenario may limit the availability of medicines in the UK.
Market Movers
FTSE 250 (MCX) 17,680.04 1.38%
FTSE 250 - Risers
Indivior (INDV) 123.07p 9.49%
Premier Oil (PMO) 74.50p 7.66%
Ferrexpo (FXPO) 198.71p 5.95%
Tullow Oil (TLW) 192.75p 5.59%
Weir Group (WEIR) 1,310.00p 5.26%
Capita (CPI) 113.90p 5.03%
CYBG (CYBG) 186.40p 4.78%
Vivo Energy (VVO) 132.00p 4.66%
Victrex plc (VCT) 2,268.00p 4.42%
Kaz Minerals (KAZ) 514.00p 4.20%
FTSE 250 - Fallers
Funding Circle Holdings (FCH) 309.95p -4.17%
Rank Group (RNK) 138.40p -2.67%
Energean Oil & Gas (ENOG) 640.00p -2.22%
Mediclinic International (MDC) 300.00p -1.64%
Intu Properties (INTU) 109.10p -1.27%
PZ Cussons (PZC) 211.80p -1.21%
Spirent Communications (SPT) 114.40p -1.21%
Hill & Smith Holdings (HILS) 1,145.00p -1.21%
Smithson Investment Trust (SSON) 1,009.22p -1.06%
Games Workshop Group (GAW) 3,060.00p -0.97%
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