FTSE 250 movers: Ferrexpo jumps after production update

9th Jul 2013 14:50

Ferrexpo was the standout performer of the day on Tuesday, surging by nearly 14 per cent after a second-quarter production update. The iron ore producer said that group pellet output was up 11.4 per cent year-on-year in the first half, helped by the ramp up of production from the new Ferrexpo Yeristovo Mining (FYM) open pit.Matt Basi, Head of UK Sales Trading at CMC Markets, said that the media price target amongst the 23 major analysts covering the stock is 236p - "a 60% premium to this morning's levels". Meanwhile, analyst Louise Collinge from Investec said that the update puts the company on track to hit her full-year pellet output of 10.7m tonnes.Mining peers Hochschild Mining, Polymetal, African Barrick Gold and Lonmin were also in demand, tracking metal prices higher, with the latter benefitting from an upgrade by Westhouse Securities from 'sell' to 'neutral'.Bucking the trend Centamin which slipped into the red despite saying it achieved record gold production at its Sukari Gold Mine in Egypt in the three months to end of June. The company however kept its full-year guidance unchanged, warning of reduced throughput from commissioning activities in the fourth quarter.Engineering software solutions provider Aveva was a high riser today after saying it had seen a good start to the year in both engineering & design systems and enterprise solutions divisions with steady growth in EMEA and Asia Pacific.FTSE 250 - RisersFerrexpo (FXPO) 157.80p +13.77%Aveva Group (AVV) 2,496.00p +10.05%Henderson Group (HGG) 174.10p +8.14%Kier Group (KIE) 1,328.00p +6.24%Polymetal International (POLY) 495.00p +4.34%Ocado Group (OCDO) 324.40p +4.28%Carillion (CLLN) 273.80p +3.95%Balfour Beatty (BBY) 219.80p +3.83%African Barrick Gold (ABG) 111.00p +3.54%Michael Page International (MPI) 413.90p +3.45%FTSE 250 - FallersEvraz (EVR) 93.60p -5.55%Telecity Group (TCY) 983.00p -4.00%Centamin (DI) (CEY) 37.20p -3.02%Dixons Retail (DXNS) 42.22p -2.72%Taylor Wimpey (TW.) 103.70p -2.45%Barr (A.G.) (BAG) 521.00p -1.98%888 Holdings (888) 158.60p -1.80%Essar Energy (ESSR) 123.00p -1.76%Howden Joinery Group (HWDN) 269.00p -1.72%Direct Line Insurance Group (DLG) 226.00p -1.35%