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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: Miners tumble but Polymetal still shines

(Sharecast News) - The FTSE 250 index was down 1.4% at 20,588.90 at 1400 BST.

Mining stocks felt the pinch as fears of a slowdown in China saw mining stocks take a tumble. Reports of panic buying in the capital Beijing emerged overnight as people feared a hard lockdown amid rising Covid cases that has seen the country's biggest city of Shanghai shut down in the past month.

The news hit Blackrock Mining Trust, Hochschild Mining and Ferrexpo.

On the upside, shares in Polymetal rose as the company reported a rise in first-quarter revenue, driven by higher prices and despite a fall in production.

Revenue for the three months to March 31 increased 4% year on year to $616m. Production of gold equivalent was down 6% to 372,000 troy ounces. Polymetal said it still expected to produce 1.7 million ounces in 2022.

FTSE 250 - Risers

Polymetal International (POLY) 275.50p 2.04% GCP Infrastructure Investments Ltd (GCP) 120.00p 1.87% Drax Group (DRX) 795.00p 1.73% easyJet (EZJ) 577.40p 1.58% Playtech (PTEC) 554.00p 1.28% Centrica (CNA) 79.96p 0.99% Wizz Air Holdings (WIZZ) 3,150.00p 0.93% Mediclinic International (MDC) 379.40p 0.69% Great Portland Estates (GPE) 704.50p 0.64% C&C Group (CDI) (CCR) 206.20p 0.59%

FTSE 250 - Fallers

BlackRock World Mining Trust (BRWM) 669.00p -7.21% Hochschild Mining (HOC) 120.00p -5.59% IWG (IWG) 256.10p -5.18% Watches of Switzerland Group (WOSG) 1,061.00p -5.01% Dr. Martens (DOCS) 225.20p -4.90% Apax Global Alpha Limited (APAX) 186.60p -4.60% Aston Martin Lagonda Global Holdings (AML) 805.20p -4.60% Lancashire Holdings Limited (LRE) 371.40p -4.48% Bridgepoint Group (Reg S) (BPT) 311.00p -4.31% Ferrexpo (FXPO) 166.90p -4.30%

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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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