Less Ads, More Data, More Tools Register for FREE

Pin to quick picksEndeavour Mining Share News (EDV)

Share Price Information for Endeavour Mining (EDV)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1,723.00
Bid: 1,722.00
Ask: 1,724.00
Change: 4.00 (0.23%)
Spread: 2.00 (0.116%)
Open: 1,725.00
High: 1,741.00
Low: 1,722.00
Prev. Close: 1,719.00
EDV Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET CLOSE: Stocks mixed but gold glows on Fed cut hope

Tue, 05th Mar 2024 17:00

(Alliance News) - London's FTSE 100 ended slightly higher on Tuesday, in an otherwise uninspiring day for equities, as attention turns to Wednesday's UK budget.

The FTSE 100 index ended up 5.83 points, 0.1%, at 7,646.16. The FTSE 250 closed up 21.95 points, 0.1%, at 19,271.03, while the AIM All-Share fell 2.80 points, 0.4%, at 734.89.

The Cboe UK 100 rose 0.1% to 765.76, the Cboe UK 250 ended up 0.2% at 16,627.63, and the Cboe Small Companies closed down 0.1% at 14,481.05.

In European equities on Tuesday, the CAC 40 in Paris ended down 0.3%, while the DAX 40 in Frankfurt fell 0.1%.

In New York on Tuesday, the Dow Jones Industrial Average was down 0.6% at the time of the closing bell in Europe, the S&P 500 was 0.8% lower, and the Nasdaq Composite slumped 1.6%.

IG analyst Axel Rudolph noted it is commodity and cryptocurrency markets were all the excitement has been so far on Tuesday.

"The mantle of this year's equity rally has been passed to gold and Bitcoin which have both hit record highs on Tuesday. The rally in both the precious metal and cryptocurrency, which kicked off last week when Fed Governor Waller talked of a strategy shift towards reducing central bank's mortgage-backed securities holdings to zero, gathered momentum as investors bought gold and US-listed Bitcoin ETFs. The rally in US stock indices is taking a breather, though," Rudolph said.

Gold was quoted at USD2,125.97 an ounce late Tuesday, higher against USD2,116.16 on Monday, as optimism around US interest rate cut builds. The precious metal had hit a record high of USD2,141.81.

Shares in Fresnillo and Endeavour rose 3.7% and 4.4% in London.

Recent US data has been tepid, and a services purchasing managers' index reading on Tuesday helped soothe some inflation worry.

The Institute for Supply Management's services PMI faded to 52.6 points in February, from 53.4 in January. It had been expected to come in at 53 points, according to FXStreet cited consensus.

The prices paid index cooled to 58.6 points in February from 64.0 in January. That metric was in focus after January's red-hot reading.

"Services sector inflation remains a thorn in the side of the Fed," Scope Markets analyst Joshua Mahony explained ahead of the data.

The pound was quoted at USD1.2721 at the time of the London equities close on Tuesday, higher compared to USD1.2696 at the equities close on Monday. The euro stood at USD1.0866, up against USD1.0858. Against the yen, the dollar was trading at JPY150.12, lower compared to JPY150.51.

In the UK, focus is on Wednesday's budget.

On the back of announcing a cut to the main 12% rate of employee national insurance to 10% during the autumn statement, eyes will be on whether Hunt will unveil some more tax cuts.

Ebury analyst Matthew Ryan commented: "A two-percentage point cut to national insurance contributions has been widely reported and will be heavily expected by market participants. The big question mark surrounds whether or not Chancellor Hunt will pull the trigger on a cut to income tax. The chancellor would likely justify such a move by raising taxes elsewhere, while saying that progress had been made on the government's economic objectives. One could argue, however, that this would be a rather audacious throw of the dice, as it may act to keep inflation higher for longer at a time when the UK economy is firmly stuck in stagnation.

"We think that the government has a difficult balancing act on its hands, as it attempts to bring voters onside, while preventing another collapse in UK bond markets. A modest and responsible fiscal injection could be supportive of UK assets on Wednesday, although the opposite would be true should investors perceive the tax cuts to be both reckless and unfunded."

The budget is expected to be announced around 1230 GMT.

In London, Intertek rose 6.2%.

The London-based consumer product testing and certification agency reported that revenue in 2023 rose 4.3% to GBP3.33 billion from GBP3.19 billion a year earlier. Pretax profit edged up 0.6% to GBP422.3 million from GBP419.8 million.

On the back of the results, Intertek proposed a final dividend of 74.0p per share, up from 71.6p. This brings the full year dividend up 5.6% annually to 111.7p.

Ashtead fell 9.4%. It reported a sharp drop in profit in the third quarter of its financial year, saying rental revenue growth in the key US market was hurt by fewer natural disasters requiring emergency response, and by the strike by actors and writers in Hollywood.

London-based Ashtead provides equipment hire and makes by far the most of its money in the US via its Sunbelt arm.

Ashtead reported pretax profit of USD442.0 million for the three months that ended January 31, down 12% from USD505.1 million a year before. On an adjusted basis, excluding amortisation, pretax profit was USD473.0 million, down 11% from USD534.7 million.

Total revenue was USD2.66 billion, up 9.5% from USD2.43 billion, as rental revenue rose by 9.4% to USD2.36 billion from USD2.19 billion.

In the FTSE 250, Spirent Communications shot up 59%, after it agreed a GBP1.01 billion takeover by Viavi Solutions.

The Crawley, England-based automated test and assurance solutions provider said the all-cash offer was for 175 pence per share, comprising 172.5p cash and a 2.5p special dividend. It values Spirent's entire equity at GBP1.01 billion.

Viavi Solutions is a Chandler, Arizona-based manufacturer of testing and monitoring equipment for networks. It is traded on Nasdaq in New York and has a market value of USD2.17 billion.

Brent oil was quoted at USD82.69 a barrel late in London on Tuesday, down from USD83.37 late Monday.

Wednesday's economic calendar has a eurozone retail sales reading at 1000 GMT, after a UK construction PMI at 0930 GMT. The Bank of Canada announces its latest interest rate decision at 1445 GMT.

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
2 Aug 2023 17:04

UK's FTSE 100 at two-week low as surprise US credit rating cut sours mood

Fitch downgrades U.S. credit rating to AA+

*

Read more
2 Aug 2023 12:07

LONDON MARKET MIDDAY: European stocks rattled after US debt rating cut

(Alliance News) - Stock prices across the globe were lower at midday Wednesday, after Fitch rocked markets by downgrading the US credit rating.

Read more
2 Aug 2023 08:35

TOP NEWS: Endeavour Mining profit declines further in second quarter

(Alliance News) - Endeavour Mining PLC on Wednesday reported a profit and revenue deterioration in the second quarter, but backed its full-year operational guidance.

Read more
26 Jul 2023 15:43

UK earnings, trading statements calendar - next 7 days

Thursday 27 July 
Allianz Technology Trust PLCHalf Year Results
Airtel Africa PLCQ1 Results
Anglo American PLCHalf Year Results
Antofagasta PLCHalf Year Results
Beazley PLCTrading Statement
Capital & Regional PLCHalf Year Results
Card Factory PLCTrading Statement
Centrica PLCHalf Year Results
Checkit PLCTrading Statement
Drax Group PLCHalf Year Results
Deliveroo PLCHalf Year Results
Derwent London PLCHalf Year Results
DP Eurasia NVTrading Statement
Entain PLCHalf Year Results
Greencoat UK Wind PLCHalf Year Results
Global Connectivity PLCHalf Year Results
Hostelworld Group PLCHalf Year Results
HydrogenOne Capital Growth PLCTrading Statement
Lancashire Holdings LtdHalf Year Results
Mitchells & Butlers PLCTrading Statement
OSB Group PLCHalf Year Results
Persimmon PLCHalf Year Results
Redcentric PLCFull Year Results
RELX PLCHalf Year Results
Rentokil Initial PLCHalf Year Results
Resolute Mining LtdTrading Statement
S&U PLCTrading Statement
Sage Group PLCTrading Statement
Savills PLCHalf Year Results
Secure Trust Bank PLCHalf Year Results
SEGRO PLCHalf Year Results
Spirax-Sarco Engineering PLCHalf Year Results
Videndum PLCHalf Year Results
Wheaton Precious Metals CorpHalf Year Results
Friday 28 July 
AstraZeneca PLCHalf Year Results
AIB Group PLCHalf Year Results
GCP Infrastructure Investments LtdTrading Statement
IMI PLCHalf Year Results
Impellam Group PLCHalf Year Results
International Consolidated Airlines Group SAHalf Year Results
Intertek Group PLCHalf Year Results
Jardine Matheson Holdings LtdHalf Year Results
NatWest Group PLCHalf Year Results
PayPoint PLCFull Year Results
PayPoint PLCTrading Statement
Rightmove PLCHalf Year Results
Standard Chartered PLCHalf Year Results
Taylor Maritime Investments LtdTrading Statement
Vanquis Banking Group PLCHalf Year Results
YouGov PLCTrading Statement
Monday 31 July 
Bank of Ireland Group PLCHalf Year Results
GlobalData PLCHalf Year Results
Hutchmed (China) LtdHalf Year Results
Pearson PLCHalf Year Results
Pod Point Group Holdings PLCHalf Year Results
Quartix Technologies PLCHalf Year Results
Ricardo PLCTrading Statement
Senior PLCHalf Year Results
Spectris PLCHalf Year Results
Tuesday 1 August 
BP PLCHalf Year Results
Coats Group PLCHalf Year Results
Diageo PLCFull Year Results
Domino's Pizza Group PLCHalf Year Results
Filtronic PLCFull Year Results
Fresnillo PLCHalf Year Results
Greggs PLCHalf Year Results
HSBC Holdings PLCHalf Year Results
International Personal Finance PLCHalf Year Results
Keller Group PLCHalf Year Results
Man Group PLCHalf Year Results
Metro Bank PLCHalf Year Results
NWF Group PLCFull Year Results
Robert Walters PLCHalf Year Results
Staffline Group PLCHalf Year Results
System1 Group PLCFull Year Results
Travis Perkins PLCHalf Year Results
Virgin Wines UK PLCTrading Statement
Weir Group PLCHalf Year Results
XP Power LtdHalf Year Results
Wednesday 2 August 
BAE Systems PLCHalf Year Results
ConvaTec Group PLCHalf Year Results
Direct Line Insurance Group PLCHalf Year Results
Endeavour Mining PLCHalf Year Results
Ferrexpo PLCHalf Year Results
Haleon PLCHalf Year Results
Genel Energy PLCHalf Year Results
Ibstock PLCHalf Year Results
IP Group PLCHalf Year Results
Kerry Group PLCHalf Year Results
Permanent TSB Group Holdings PLCHalf Year Results
Smurfit Kappa Group PLCHalf Year Results
Spirent Communications PLCHalf Year Results
Taylor Wimpey PLCHalf Year Results
TheWorks.co.uk PLCFull Year Results
Virgin Money UK PLCTrading Statement
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
12 Jul 2023 17:04

LONDON MARKET CLOSE: FTSE 100 soars as US inflation ebbs in June

(Alliance News) - Stock prices in London closed sharply higher on Wednesday, as US inflation cooled more than expected in June, boosting investor confidence.

Read more
11 Jul 2023 17:09

LONDON MARKET CLOSE: Pay data lifts pound; China cheer boosts stocks

(Alliance News) - Stock prices in London closed largely higher on Tuesday, despite the FTSE 100 spending most of the day in the red, weighed down by a UK jobs data-boosted pound.

Read more
11 Jul 2023 08:56

LONDON MARKET OPEN: FTSE 100 lower as pound strengthens; miners rise

(Alliance News) - Stock prices in London opened mixed on Tuesday, as investors digested conflicting UK unemployment data.

Read more
30 Jun 2023 10:08

Endeavour sells stakes in Burkina Faso assets for over USD300 million

(Alliance News) - Endeavour Mining PLC on Friday said it has the closed the sale of its majority stakes in two "non-core" projects in Burkina Faso, netting over USD300 million.

Read more
30 Jun 2023 07:12

Endeavour offloads non-core mine interests in $300m deal

(Sharecast News) - Endeavour Mining announced the successful sale of its 90% interests in the Boungou and Wahgnion non-core mines in Burkina Faso on Friday.

Read more
19 Jun 2023 16:53

LONDON MARKET CLOSE: Stocks under pressure from expected BoE hike

(Alliance News) - Stocks in London ended lower on Monday, weighed down by a disappointing post-Covid recovery in China and the increasing expectation that interest rates in the UK will keep pushing higher.

Read more
19 Jun 2023 12:01

LONDON MARKET MIDDAY: Stocks down over worries on China's outlook

(Alliance News) - The FTSE 100 in London was lower at midday Monday, as a lowered economic outlook for China darkened the mood, with blue-chip mining companies among the worst hit on the stock market.

Read more
5 Jun 2023 16:52

LONDON MARKET CLOSE: FTSE 100 down as rally for oil majors loses steam

(Alliance News) - Stocks in London were largely lower at the close on Monday as a rally in oil majors ground to a halt and investors looked to an increasingly "two-speed" economy in the US.

Read more
5 Jun 2023 12:11

LONDON MARKET MIDDAY: Stocks green amid UK service sector strength

(Alliance News) - Stock prices in London were higher at midday on Monday as markets looked to further positive news for the UK's service sector.

Read more
5 Jun 2023 09:00

LONDON MARKET OPEN: Shell and BP rise after Opec+ cuts oil output

(Alliance News) - Stock prices in London made a strong start on Monday, as announced cuts in oil production supported the price of Brent crude and the shares of oil majors

Read more
15 May 2023 12:22

LONDON MARKET MIDDAY: Stocks mostly up, but US budget impasse worries

(Alliance News) - Stock prices in London were largely higher at midday on Monday and the pound held firm against the dollar, with the FTSE 100 boosted by a strong performance by mining stocks.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.