Shares digital

FTSE 250 silver producer Hochschild Mining (HOC) saw its shares fall 32% to 310p intraday Tuesday after a profit warning. It has blamed higher depreciation charges and lower-quality ore at two mines that will reduce gross profit and margin. Profit in 2008 will be negatively affected by a shift in production to projects with joint venture partners. Executive chairman Eduardo Hochschild has scaled back his dual role to hand over chief executive duties to Miguel Aramburu, previously chief operating officer.

Shares says: A huge disappointment but worth sticking with the group on longer-term growth opportunities.