BUZZ-Polymetal: quietly rising despite multiple tailwinds
** Polymetal rises 2.2 pct, 6th straight day of gains, despite sector headwinds sending peers to near year lows.
** Up 11 pct this week off two-year lows, third-biggest riser WTD on FTSE 250 against the index's return of 2.4 pct.
** 5 day average volumes nearly double 30-day average.
** Breaks above 50- and 100-day SMA, a key level of resistance in recent months. Chart: link.reuters.com/nat33w
** Short-covering unlikely catalyst for rise, traders say.
** No short positions greater than 0.5 pct currently disclosed with FCA, only 0.5 pct of outstanding shares on loan according to Markit data.
** Peers Randgold and Fresnillo lead the FTSE 100 lower today on falling gold prices, both nearing year lows.
** Performance has diverged sharply in the last week. Chart: link.reuters.com/mat33w
** Polymetal, that has an extensive cost base in Russia, also shrugged off a sharply strengthening ruble on Thursday. (RM: email@example.com)
© Thomson Reuters 2016 All rights reserved.