FTSE 250 movers: Ferrexpo plunges on report boss detained in France

(Sharecast News) - FTSE 250 (MCX) 18,897.94, up 0.36% at 1542 GMT. Miners gained on higher copper prices and China's plans to relax Covid border restrictions. On the FTSE 250, Hochschild Mining made gains on the news, following FTSE 100 sector peers, such as Antofagasta and Anglo-American.

Shares in iron-ore pellet maker Ferrexpo fell on reports that it controlling shareholder Kostyantin Zhevago had been detained in France on suspicion of money laundering and embezzling funds linked to his banking business.

Zhevago was held at a hotel in the luxury French ski resort Courchevel on Tuesday by French police, the Ukrainian State Bureau of Investigation said.

"Among other things, the SBI investigators prepared a petition for detention until they received a request for the extradition of the former MP to 38 countries. For several months, close cooperation continued with law enforcement agencies from different countries, including the justice authorities, the gendarmerie and the police of the French Republic."

"Currently, the necessary package of documents is being prepared for his extradition from the French Republic to Ukraine."

Finance & Credit JSC, a lender owned by Zhevago, was declared insolvent by the central bank in 2015, and an investigation established that $113m had been siphoned out and transferred to foreign companies he owned, the SBI said.

Wizz Air fell after being named as part of an inquiry by Italy's antitrust regulator into possible price-fixing for flights in and out of Sicily.

The investigation follows a complaint by consumer group Codacons, which alleged "a specific collusive will" of airlines to raise prices for domestic flights to and from Sicily during the Christmas holidays the regulator said in its weekly bulletin.

The complaint also targeted easyJet, Ryanair and state-owned ITA Airways, the successor of former flagship carrier Alitalia, it added.

In a statement sent to Sharecast.com, easyJet denied any wrongdoing.

"We are aware of the investigation launched by the Italian Competition Authority into some airlines operating in Italy, including easyJet."

"EasyJet strongly refutes these claims, adheres to relevant laws and regulations and will fully cooperate with the authorities to demonstrate it has always acted lawfully and competitively in the best interests of consumers," it said.

The antitrust authority said its inquiry would conclude by December 31, 2023.

Ryanair and Wizz Air have both been contacted for comment.

FTSE 250 - Risers

Hochschild Mining (HOC) 72.45p 4.02% Paragon Banking Group (PAG) 575.00p 3.70% Clarkson (CKN) 3,265.00p 3.65% Dr. Martens (DOCS) 188.10p 3.24% OSB Group (OSB) 487.80p 3.13% BlackRock World Mining Trust (BRWM) 710.00p 3.05% RHI Magnesita N.V. (DI) (RHIM) 2,240.00p 3.04% Future (FUTR) 1,288.00p 2.96% Jupiter Fund Management (JUP) 130.80p 2.91% Synthomer (SYNT) 144.10p 2.86%

FTSE 250 - Fallers

4Imprint Group (FOUR) 4,280.00p -4.46% Volution Group (FAN) 366.50p -3.55% Warehouse Reit (WHR) 103.80p -3.17% Petershill Partners (PHLL) 164.20p -3.07% Ferrexpo (FXPO) 167.70p -3.01% PureTech Health (PRTC) 258.00p -2.64% Wizz Air Holdings (WIZZ) 2,033.00p -2.45% Darktrace (DARK) 260.50p -2.07% Discoverie Group (DSCV) 735.00p -2.00% Supermarket Income Reit (SUPR) 100.00p -1.96%