FTSE 250 movers: Centamin rises on law change hopes

24th Apr 2014 15:30

Centamin rose strongly on the back of hopes a change in the law could resolve the Egyptian mining row. After a claim was made against the company's licence for the Sukari mine, in 2012 a court ruled the company did not have the right to mine with the licence, a decision since appealed by the group. As the company understands the new law, it "will restrict the capacity for third parties to challenge any contractual agreement between the Egyptian government and an investor", Centamin said. Readacross from Apple helped lift Imagination Technologies into positive territory, and also provided a lift to Laird, which is a supplier to the iPhone and iPad maker. Petra Diamonds extended the previous day's gains, which came after it reported a 55% climb in third quarter revenue, driven in part by a 15% jump in production, as well as the sale of a 29.6 carat blue diamond, which was sold for $25.6m.Defence and aerospace group Cobham said it expected revenues to decline in the current year but return to growth in 2015, prompting shares to rise. The group said its current trading led it to expect organic revenue would decline "by low-to-mid single digits" in the current full year and so it would continue to take action to mitigate the impact of this organic decline. Meanwhile, Spirent Communications declined as Deutsche Bank lowered its target price from 106p to 105p retaining a 'hold' recommendation. The firm yesterday climbed into the top spot after it reported strong revenue growth in the first quarter, helped by the recognition of delayed orders, and said that market conditions have improved from 2013.Computacenter also declined after it said it expects to be hit with restructuring charges as it works to reduce costs further in France with 'much work to be done' in the region to improve its performance. The company, which provides IT infrastructure services, said that 2014 will be a "year of progress" and it still expects to meet full-year expectations. "However, it is clear that the group continues to be held back by the performance in France."FTSE 250 - RisersCentamin (DI) (CEY) 61.40p +9.74%Petra Diamonds Ltd.(DI) (PDL) 164.90p +5.57%Just Retirement Group (JRG) 162.10p +4.99%Jupiter Fund Management (JUP) 389.40p +3.76%Imagination Technologies Group (IMG) 190.70p +3.75%Genus (GNS) 1,050.00p +3.04%Cobham (COB) 308.20p +2.73%Tullett Prebon (TLPR) 301.00p +2.56%Bwin.party Digital Entertainment (BPTY) 128.60p +2.47%AL Noor Hospitals Group (ANH) 1,014.00p +2.27%FTSE 250 - FallersSpirent Communications (SPT) 99.70p -4.13%Enterprise Inns (ETI) 136.60p -3.80%Entertainment One Limited (ETO) 308.40p -3.32%Taylor Wimpey (TW.) 105.80p -3.02%Countrywide (CWD) 617.00p -2.99%Supergroup (SGP) 1,462.00p -2.99%Crest Nicholson Holdings (CRST) 354.10p -2.96%Evraz (EVR) 92.75p -2.83%Victrex plc (VCT) 1,881.00p -2.64%Foxtons Group (FOXT) 330.00p -2.51%NR