FTSE 250 movers: Centamin rebounds as gold exporting resumes

17th Dec 2012 16:03

Egypt-focused gold mining and exporting company Centamin surged after confirming that the halt by customs on gold exports from Sukari has been lifted and a shipment was made on Sunday December 16th. Centamin's shares took a battering last week when it said that it has been forced to suspend mining at its flagship Sukari mine after fuel supplies and gold export issues. The shares, up around 43p today, are still well below the 50-60p level seen over the past month, as investors await the resumption of mining at Sukari.The mining sector on the whole was putting in a decent performance today on the back of hopes for economic stimulus in Asian powerhouses China and Japan. According to Chinese news agency Xinhua, Beijing leaders said that they wanted to boost imports and increase urbanisation to boost domestic consumption. Meanwhile, the pro- stimulus Liberal Democratic Party celebrated a landslide victory in the Japanese elections this weekend. Sector peers Ferrexpo, African Barrick Gold and New World Resources were making strong gains. Imagination Technologies dropped after signing a revised agreement to acquire a $100m stake in MIPS Technologies, after its original $60m offer in November triggered a bidding war with CEVA Inc.Energy services group Hunting dropped after it said that it is trading in line with its expectations for the full year but cautioned that the short-term outlook is increasingly cautious due to tough market conditions in a number of its operating regions.FTSE 250 - RisersCentamin (DI) (CEY) 43.37p +25.20%Ferrexpo (FXPO) 243.60p +3.97%Sports Direct International (SPD) 381.80p +3.92%African Barrick Gold (ABG) 437.20p +3.60%New World Resources A Shares (NWR) 275.70p +2.38%Marston's (MARS) 123.10p +2.33%Kentz Corporation Ltd. (KENZ) 402.50p +2.21%Micro Focus International (MCRO) 559.50p +2.01%Britvic (BVIC) 401.40p +1.98%Man Group (EMG) 82.10p +1.92%FTSE 250 - FallersImagination Technologies Group (IMG) 382.00p -6.65%Hunting (HTG) 760.50p -5.65%Bwin.party Digital Entertainment (BPTY) 107.70p -5.53%Soco International (SIA) 354.90p -3.38%Dialight (DIA) 1,008.00p -3.17%BTG (BTG) 332.30p -3.09%Filtrona PLC (FLTR) 560.00p -3.03%Talvivaara Mining Company (TALV) 94.20p -2.89%AZ Electronic Materials SA (DI) (AZEM) 344.10p -2.88%Betfair Group (BET) 725.00p -2.68%BC