FTSE 250 movers: Centamin jumps on reports of Egyptian law changes

24th Feb 2014 15:01

Shares of Centamin rose strongly on reports the Egyptian government's redrafted investment laws will prevent challenges from third parties on deals formed between the government and investors. According to Reuters, the news came from a cabinet source. Currys and PC World owner Dixons Retail has confirmed it is in merger talks with mobile phone retailer Carphone Warehouse, prompting both stocks to move higher. They said the talks were at "a very preliminary stage" and there was no certainty that a deal would be reached. "No decision has been reached regarding the structuring of any such merger," the statement added.Meanwhile, mining stocks registered heavy losses, with Evraz and Lonmin both sharply lower. The decline was in part due to a Chinese state-owned newspaper reporting that some banks had curbed loans to developers. Shanghai Securities News reported that the Industrial Bank may have stopped some types of property-related loans until the end of March.Rightmove shares declined after Canaccord Genuity downgraded the stock to 'hold' from 'buy', while maintaining its price target of 3,000p. FTSE 250 - RisersCentamin (DI) (CEY) 57.80p +7.84%Dixons Retail (DXNS) 49.97p +5.96%Carphone Warehouse Group (CPW) 321.20p +4.97%Bwin.party Digital Entertainment (BPTY) 128.40p +3.46%UDG Healthcare Public Limited Company (UDG) 359.40p +2.69%Playtech (PTEC) 841.50p +2.50%Hikma Pharmaceuticals (HIK) 1,414.00p +2.46%Micro Focus International (MCRO) 814.00p +2.45%Aveva Group (AVV) 2,202.00p +2.23%Fenner (FENR) 442.50p +2.22%FTSE 250 - FallersEvraz (EVR) 78.95p -4.01%Rightmove (RMV) 2,647.00p -3.89%Petra Diamonds Ltd.(DI) (PDL) 157.50p -3.31%Essar Energy (ESSR) 62.65p -3.09%Xaar (XAR) 1,095.00p -3.01%Foxtons Group (FOXT) 365.50p -2.95%Lonmin (LMI) 310.20p -2.64%Balfour Beatty (BBY) 306.80p -2.54%Oxford Instruments (OXIG) 1,511.00p -2.52%Hellermanntyton Group (HTY) 310.20p -2.39%NR