Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksFerrexpo Share News (FXPO)

Share Price Information for Ferrexpo (FXPO)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 43.66
Bid: 43.84
Ask: 43.90
Change: 0.00 (0.00%)
Spread: 0.06 (0.137%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 43.66
FXPO 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 PRE-OPEN: Centamin Annual Earnings Rise; Keeps Guidance

Mon, 18th May 2020 07:49

(Alliance News) - Stock prices in London are seen opening higher on Monday as lockdown measures across Europe ease and death tolls from the coronavirus pandemic gradually decline.

Spain is set to further ease its lockdown measures. The country recorded 87 new virus-related deaths – the first time the daily number has fallen below 100 in two months. The UK also registered its lowest daily increase since late March, with 170 fatalities.

On Sunday, the US also recorded its lowest daily death toll in a week, at 820, but the country with the world's highest number of coronavirus fatalities neared 90,000 dead.

In early company news, gold miner Centamin reported positive annual results, while its midcap peer Hochschild Mining obtained the go-ahead to resume operations in Peru. Iron pellet producer Ferrexpo named an acting chief executive.

IG futures indicate the FTSE 100 index is to open 85.23 points higher at 5,885.00. The blue-chip index closed up 58.23 points, or 1.0%, at 5,799.77 on Friday.

Centamin said it delivered a strong financial performance in 2019 characterised by continued operational improvements at its flagship Sukari mine in Egypt.

Centamin's revenue came in at USD658.1 million in the calendar year, up 7% from USD614.8 million in 2018, and pretax profit increased 13% to USD173.0 million from USD152.7 million.

Gold production rose 2% to 480,528 ounces in 2019 from 472,418 ounces in 2018, but the amount of gold the company sold fell 3% to 470,020 ounces from 484,322 ounces.

Looking ahead, Centamin maintained its production guidance of between 510,000 to 540,000 ounces of gold in 2020.

Hochschild Mining said it has met all the Covid-19 health and safety protocols established by the Peruvian government to restart operations at the Inmaculada and Pallancata mines. The gold miner plans to begin ramping-up progressively to achieve full production in the coming weeks.

Hochschild expects to reissue its annual guidance once full production is achieved and the overall impact of the suspensions has become clear, it added.

Ferrexpo appointed James North as acting chief executive from the conclusion of its annual general meeting on May 28. The iron pellet producer said North will not join the board but will attend all board meetings. Chris Mawe will return to his role as chief financial officer.

Ryanair Holdings reported a rise in earnings and traffic in its recently ended financial year which was largely unaffected by the Covid-19 pandemic that has since battered the airline sector.

The Irish budget carrier yet again took aim at "state aid doping", reaffirmed its bleak traffic expectations for the second quarter of the new year, and said it expects a EUR200 million loss in the first quarter.

Revenue in the financial year that ended March 31 was 10% higher annually at EUR8.49 billion from EUR7.70 billion. Pretax profit, however, was down by 29% year-on-year to EUR670.3 million from EUR948.1 million.

Weighing on Ryanair's profit was a EUR407.2 million charge for fuel hedge ineffectiveness. Without taking that accounting hit, pretax profit would have come in 14% higher at EUR1.08 billion. The bulk of the ineffectiveness costs were in relation to the Covid-19 pandemic.

The Japanese Nikkei 225 index closed up 0.5%. In China, the Shanghai Composite is up 0.6%, while the Hang Seng index in Hong Kong is up 0.3%.

The Japanese economy has plunged into recession as the coronavirus pandemic and a consumption tax hike last year ravage the world's third-largest economy.

Japan's gross domestic product contracted at an annualized rate of 3.4% in the first quarter of 2020, according to a report released by the Cabinet Office on Monday.

Economic growth in the last quarter of 2019 was revised down to a 7.3% contraction from a 7.1% fall estimated in March, the office said.

Against the yen, the dollar was quoted at JPY107.15. marginally lower than JPY107.23.

The pound was quoted at USD1.2107 on Monday morning, lower from USD1.2125 at the London equities close Friday.

Extra trains are expected to take thousands more people back to work under the UK government's plan to accelerate economic activity by lifting lockdown restrictions.

After the first weekend in which people in England could enjoy sunbathing and picnics outdoors, public transport operators were preparing to carry many more commuters to building sites, factories and offices on Monday.

The move comes at the start of the first full working week since UK Prime Minister Boris Johnson set out his plan for easing the coronavirus lockdown in England, urging those employees unable to work from home to return to their places of employment.

Brent oil was quoted at USD33.57 a barrel Monday morning, up from USD31.27 late Friday. Gold was at USD1,760.43 an ounce, up sharply from USD1,743.84.

The euro was quoted at USD1.0819, flat from USD1.0818 on Friday.

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
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.

Read more
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.

Read more
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.

Read more
25 Mar 2024 16:51

LONDON MARKET CLOSE: Renewed global tensions put pressure on stocks

(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.

Read more
25 Mar 2024 15:49

London close: Stocks slip back after last week's peak

(Sharecast News) - London markets finished in the red on Monday, having traded below the waterline through the session after reaching a peak at the end of last week.

Read more
25 Mar 2024 12:09

LONDON MARKET MIDDAY: Stocks make tepid start to new week

(Alliance News) - Stock prices in London were down at midday on Monday, giving back some gains from last week, when equities were boosted by central bank decisions and accompanying statements which investors saw as dovish.

Read more
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.

Read more
25 Mar 2024 09:10

Ferrexpo court dates delayed as operations continue

(Sharecast News) - Ferrexpo updated the market on the proceedings involving its subsidiary Ferrexpo Poltava Mining (FPM) on Monday.

Read more
13 Mar 2024 15:00

London close: Stocks mixed as UK economy returns to growth

(Sharecast News) - London markets finished with a mixed performance on Wednesday, following a surge on Tuesday, with investors buoyed by news of the UK economy's return to growth in January.

Read more
13 Mar 2024 13:48

IN BRIEF: Ferrexpo results delayed by subsidiary's creditor hearing

Ferrexpo PLC - Baar, Switzerland-based mining company operating primarily in central Ukraine - On Tuesday says that it will need more time to finalise and publish its full-year results.

Read more
13 Mar 2024 12:09

LONDON MARKET MIDDAY: Rising pound keeps lid on FTSE 100 but peers up

(Alliance News) - London's FTSE 100 tread water heading into Wednesday afternoon, though peers in Frankfurt and Paris traded more confidently following some well-received updates from the likes of electric utility E.ON and banking firm BNP Paribas.

Read more
13 Mar 2024 09:27

Ferrexpo delays FY results, Ukrainian hearing postponed

(Sharecast News) - Mining company Ferrexpo said on Tuesday that following discussions with its auditors, more time was needed to finalise its full-year financial results.

Read more
11 Mar 2024 16:51

LONDON MARKET CLOSE: Stocks mixed ahead of US inflation data

(Alliance News) - Stock prices in London closed mixed Monday, as investors nervously look ahead to some key data from the UK and US, which could help shape the latest interest rate decisions.

Read more
11 Mar 2024 14:48

London close: Stocks mixed as investors look to US inflation data

(Sharecast News) - London markets closed in a mixed state on Monday, reflecting a broader trend of cautious trading after a primarily weaker session in Asian markets overnight.

Read more
11 Mar 2024 09:21

Ferrexpo Ukraine subsidiary faces USD85,000 claim from supplier

(Alliance News) - Ferrexpo PLC on Monday said it has taken steps to settle debt a company claims its Ukraine subsidiary owes.

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.