Petra Diamonds Share News (PDL)

UK shareholder meetings calendar - next 7 days

IN BRIEF: Petra Diamonds slashes spending in response to weak market

Petra Diamonds Ltd - Southern Africa-focused diamond miner and supplier - Cuts back capital expenditure plans for financial year 2024 by up to USD65 million, in response to diamond market weakness. Last month, Petra reported a 17% decline in prices at its second tender of stones for the financial year. The spending cuts include deferrals of work programmes at the Cullinan and Finsch mines in South Africa, as well as the deferral of USD3 million to USD5 million in sustaining capital expenditure compared to prior guidance. Petra also will cut operating costs by USD7 million to USD10 million. Petra is in talks with Absa Bank, part of Absa Group Ltd, in South Africa to increase its existing ZAR1 billion revolving credit facility by up to ZAR750 million, about USD40 million. A decision in-principle is expected during November.

Petra Diamonds deferring capital spending amid weaker pricing

(Sharecast News) - Petra Diamonds unveiled a series of strategic actions aimed at enhancing its financial resilience on Wednesday in response to challenges being posed by weaker diamond prices and market uncertainties.

EARNINGS AND TRADING: Robinson hit by Storm Babet, Altona loss widens

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and Tuesday and not separately reported by Alliance News:

SMALL-CAP WINNERS & LOSERS: DFS Furniture rises on ScS takeover

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.

UK earnings, trading statements calendar - next 7 days

IN BRIEF: Petra Diamonds confirms prices down 17% in second tender

Petra Diamonds Ltd - Southern Africa-focused diamond miner and supplier - Reports full results of the second tender of financial year 2024. Sells 444,029 carats of diamonds for a total of USD40.5 million, down from 696,194 carats for USD79.3 million in tender 1, held in August. The recent sale includes 37,856 carats of diamonds from the Williamson mine in Tanzania, sold for USD7.7 million.

LONDON BROKER RATINGS: Stifel says hold S&N; JPM neutral on Deliveroo

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

IN BRIEF: Petra Diamonds shares fall as diamonds sold at lower prices

Petra Diamonds Ltd - Southern Africa-focused diamond miner and supplier - Reports initial tender results for its Tender 2 sales. Sells 344,554 carats, representing 75% of the total tender volume, for USD30.2 million at an average price of USD88 per carat. Notes these prices are 16% to 18% lower than the prices achieved in Tender 1 on a like-for-like basis. Says this reflects "prevailing market weakness". Sale of remaining 25% of volume of Tender 2 is expected to close on Wednesday next week.

SMALL-CAP WINNERS & LOSERS: Metro Bank rises; XP cancels dividend

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.

Petra sees another price drop at latest tender sale

(Sharecast News) - Petra Diamonds achieved lower prices from its second tender of diamonds this fiscal year, as it rushed to offload gems ahead of a two-month ban on diamond imports to India.

Petra Diamonds swings to annual loss amid operating challenges

(Alliance News) - Petra Diamonds Ltd on Friday said that it swung to a loss in its recent financial year, amid operating challengers.

LONDON MARKET MIDDAY: FTSE 100 boosted by stronger China data

(Alliance News) - The FTSE 100 in London was higher at midday Friday, boosted by China-exposed stocks following promising data from the world's second-largest economy.

SMALL-CAP WINNERS & LOSERS: Iain Percival to take helm at Trifast

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.

Petra director to leave as Monarch stake shrinks

(Sharecast News) - South Africa and Tanzania-focused diamond miner Petra has announced that non-executive director Johannes Bhatt is leaving the board as a result of a reduction in the stake of major shareholder Monarch.