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Sector movers: Ferrexpo leads metal stocks lower, US GDP weighs on sentiment

Wed, 30th Jan 2013 15:19

A poorly-received set of results from iron ore pellet producer Ferrexpo and a surprise contraction in the world's largest economy saw the industrial metals and mining sector slump into the red on Wednesday.Ferrexpo was 5.59% lower at 256.7p in afternoon trade after seeing profits slump in the first nine months of the year as falling prices and demand were met with rising costs.The firm said that the average benchmark iron fines price had fallen from $177 per tonne to $131 per tonne, while sales fell from 7.2m tonnes in 2011 to 7.0m tonnes. Nickel- and zinc-focused producer Talvivaara was trading 3.28% lower at 95.75p today after JPMorgan Cazenove downgraded its rating for the stock to 'underweight'.The US bank said that "we think the company's ability to avoid a dilutive fundraising is rapidly diminishing".The wider metals and mining sector, including sector peers Bellzone Mining and EVRAZ, was firmly out of favour today as it was revealed that the US economy contracted by 0.1% in the fourth quarter of 2012, disappointing analysts who had expected a 1.1% expansion. This was also a sharp contrast to the 3.1% growth registered in the third quarter, sparking worries about the demand outlook for commodities.Top performing sectors so far todayTechnology Hardware & Equipment 1,061.93 +1.40%Fixed Line Telecommunications 2,931.32 +0.98%Media 5,101.06 +0.79%Personal Goods 21,520.78 +0.63%Health Care Equipment & Services 4,140.51 +0.40%Bottom performing sectors so far todayIndustrial Metals & Mining 3,017.47 -3.55%Oil Equipment, Services & Distribution 24,947.14 -3.13%Tobacco 36,669.79 -2.10%Chemicals 8,932.62 -1.91%Construction & Materials 3,715.78 -1.38%BC

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4 Jul 2014 15:48

Sector movers: Evraz lifts industrial metals higher

A surge in the share price of steel group Evraz helped the industrial metal and mining sector to the top of the pile on an otherwise quiet trading session in London. While markets were subdued on the whole, with analysts citing low volumes due to a public holiday in the States, Evraz shares were 5.

13 Jun 2014 14:54

Talvivaara To Delist In London, Remain On Helsinki Exchange

LONDON (Alliance News) - Talvivaara Mining Company PLC Friday said it plans to cease trading on the Main Market of the London Stock Exchange as it seeks to reduce the costs associated with the listing. Talviaara said there is no significant benefit in maintaining its London listing, given t

28 May 2014 07:13

Talvivaara Mining Pretax Loss Narrows

LONDON (Alliance News) - Talvivaara Mining Company PLC Wednesday reported that its first-quarter loss before income tax narrowed to 17.12 million euros from 31.73 million euros in the prior year quarter. Loss attributable to owners of the parent narrowed to 14.57 million euros from 21.01 m

21 May 2014 13:04

Talvivaara Mining Granted Deadline Extension For Reorganisation

LONDON (Alliance News) - Talvivaara Mining PLC Wednesday said it has been granted a deadline extension for submitting its proposals for its reorganisation programme. In a statement, the base metal producer with operations in Finland said it has been granted a deadline extension by the Dist

14 May 2014 08:09

UPDATE 1-Talvivaara plans to delist from London bourse

(Adds comment, background) HELSINKI, May 14 (Reuters) - Troubled Finnish nickel miner Talvivaara plans to delist its shares from the London Stock Exchange, leaving its only listing in Helsinki, in a bid to cut costs. Hurt by falling nickel prices and repeated production disruptions,

14 May 2014 06:10

Talvivaara plans to delist from London bourse

HELSINKI, May 14 (Reuters) - Troubled Finnish nickel miner Talvivaara plans to delist its shares from the London Stock Exchange, leaving its only listing in Helsinki, in a bid to cut costs. The firm said the London delisting, if approved at its shareholder meeting next month, would take ef

29 Apr 2014 05:17