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Pin to quick picksFerrexpo Share News (FXPO)

Share Price Information for Ferrexpo (FXPO)

London Stock Exchange
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Share Price: 50.30
Bid: 50.50
Ask: 50.60
Change: 0.70 (1.41%)
Spread: 0.10 (0.198%)
Open: 49.20
High: 50.70
Low: 49.20
Prev. Close: 49.60
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European shares rise; China's COVID surge quells risk appetite

Thu, 29th Dec 2022 17:32

Consumer staples, China-exposed stocks under pressure

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Ferrexpo says owner's detention in France unrelated to firm

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Antofagasta's Los Pelambres mine hit by blockade

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Spain's November retail sales fall 0.6% on year

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STOXX 600 up 0.7%, set for yearly declines of ~12%

By Bansari Mayur Kamdar and Shreyashi Sanyal

Dec 29 (Reuters) - European shares closed higher on Thursday, with technology stocks leading gains, buoyed by Wall Street cheer after U.S. jobless data eased concerns about the Federal Reserve's aggressive tightening cycle.

The region-wide STOXX 600 rose 0.7%. For the year so far, it has fallen nearly 12% as investors head into 2023 in a wary mood.

"Investors are going into 2023 with a cautious mindset, prepared for more rate hikes, and expecting recessions around the globe. The bar is low but arguably reasonably so," said Craig Erlam, senior market analyst at OANDA.

Rate-sensitive European tech shares jumped 2.0%, boosting the main index, as euro zone government bond yields fell.

Risk-taking strengthened after data showed signs of a cooling in the U.S. labor market, easing concerns about an aggressive Federal Reserve tightening cycle.

Global markets resumed a rally set off earlier this week after Beijing's move to further relax COVID curbs, but worries remained about the impact of surging infections on any recovery in the world's second-largest economy.

The scale of the outbreak and doubts over official data prompted the United States, India, Italy, Taiwan and Japan to impose new travel rules on Chinese visitors. The European Union's Health Security Committee called an urgent meeting in Brussels to coordinate the bloc's response.

European miners fell 0.4%, making it the only major sector in the red, as it tracked base metal prices that reflected concerns about demand recovery in top consumer China.

"Not sure consumers in Europe have yet felt the full impact of inflation, so there could be more pain to come, and it may be harder for big brands to keep putting through price rises," Derren Nathan, head of equity research at Hargreaves Lansdown, said.

In Spain, data showed retail sales fell 0.6% in November from a year earlier, after rising 1.0% in October. Spanish stocks were flat.

In Germany, Europe's largest economy, exporters have modest hopes for next year, anticipating problems at major customers in China because of climbing COVID cases and rising prices making U.S. buyers cautious, the Federation of German Wholesale and Foreign Trade (BGA) said.

Miner Antofagasta slid 2.1% after its Los Pelambres operation in Chile's Coquimbo region was hit by a blockade.

Ferrexpo fell 3.0% on the detention of its controlling shareholder, billionaire Kostyantyn Zhevago, by French authorities. The iron pellet producer said the detention was unrelated to matters at the company. (Reporting by Bansari Mayur Kamdar and Shreyashi Sanyal in Bengaluru; editing by Uttaresh.V, Eileen Soreng and Barbara Lewis)

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23 Apr 2024 09:38

Ferrexpo production levels surge in Q1

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23 Apr 2024 09:23

Ferrexpo delivers exceptional performance as Ukrainian exports resume

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18 Apr 2024 09:48

Ferrexpo swings to a loss as company makes provisions for legal battle

(Alliance News) - Ferrexpo PLC on Thursday said the company struggled during its first full financial year operating in the face of the war in Ukraine.

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18 Apr 2024 08:07

Ferrexpo swings to FY loss on legal provision

(Sharecast News) - Iron ore pellet maker Ferrexpo swung to a full-year loss as a $131million provision for a legal dispute involving its Ukrainian unit hit the bottom line.

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26 Mar 2024 17:06

London close: Stocks rise as US consumer confidence remains stable

(Sharecast News) - London markets closed in positive territory on Tuesday, buoyed by a stable US consumer confidence report and anticipation for upcoming inflation data.

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26 Mar 2024 16:10

Ferrexpo shares fall on court restrictions for subsidiaries

(Sharecast News) - Shares Ferrexpo fell on Tuesday after the iron ore pellet maker said a court had stopped the transfer of ownership and other share-related corporate rights of the company's Ukraine subsidiaries.

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26 Mar 2024 10:48

Ferrexpo says Ukraine slaps curbs on some "corporate rights" of units

(Alliance News) - Ferrexpo PLC on Tuesday said that Ukraine has imposed restrictions on some of its subsidiaries, as part of proceedings against the iron ore pellet producer's major shareholder Kostyantin Zhevago.

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25 Mar 2024 16:51

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(Alliance News) - Stock prices in London started the week in bad shape and closed lower on Monday, as investors sat on their hands amid rising global tensions.

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25 Mar 2024 15:49

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25 Mar 2024 10:20

Ferrexpo subsidiary operations remain "unaffected" amid litigation

(Alliance News) - Ferrexpo PLC on Monday said its Ferrexpo Poltava Mining operation has not suffered any disruption in the face of legal proceedings.

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