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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 250 movers: Petropavlovsk takes a beating; Morgan Advanced rallies

(Sharecast News) - London's FTSE 250 was 3% lower at 19,486.03 9 in afternoon trade on Friday. Gold miner Petropavlovsk - which has operations in Russia - was the worst performer on the index.

Government contractor Mitie was weaker after the UK's competition regulator launched a probe into the company over possible law breaches involving contracts for immigrant removal centres.

On the upside, Morgan Advanced Materials surged after saying it swung to a full-year pre-tax profit as demand recovered strongly across the global economy. In the year to 31 December 2021, the group swung to a statutory pre-tax profit of £104.3m from a loss of £13.1m the year before, with revenues up 4.4% at £950.5m.

Gold miners Hochschild and Centamin shone as gold prices benefited from safe haven demand.

Hammerson rose after the retail property owner reported an increase in full-year adjusted earnings as the easing of Covid restrictions saw a rebound of footfall to its shopping centres.

FTSE 250 - Risers

Morgan Advanced Materials (MGAM) 315.00p 12.30% Hochschild Mining (HOC) 122.20p 4.98% ICG Enterprise Trust (ICGT) 1,110.00p 4.32% Drax Group (DRX) 672.00p 3.31% QinetiQ Group (QQ.) 307.20p 2.20% Centrica (CNA) 74.14p 2.18% Pennon Group (PNN) 1,027.00p 1.78% Centamin (DI) (CEY) 101.75p 1.55% Playtech (PTEC) 600.50p 0.92% Hammerson (HMSO) 34.86p 0.69%

FTSE 250 - Fallers

Petropavlovsk (POG) 1.48p -17.78% TBC Bank Group (TBCG) 961.00p -13.89% Auction Technology Group (ATG) 811.00p -13.72% Ferrexpo (FXPO) 126.50p -11.97% Pagegroup (PAGE) 461.20p -10.53% Mitie Group (MTO) 48.00p -9.43% Provident Financial (PFG) 254.20p -8.95% Weir Group (WEIR) 1,447.00p -8.59% Watches of Switzerland Group (WOSG) 1,014.00p -8.48% Oxford Instruments (OXIG) 2,315.00p -8.13%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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