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Sector movers: Industrial metals fall, risk appetite declines ahead of Fed

Wed, 19th Jun 2013 15:00

Falling risk appetite on equity markets on Wednesday resulted in some weakness in the industrial metals and mining sector.Jitters were getting the best of investors this afternoon ahead of the all-important Federal Reserve policy decision later on this evening. Markets are waiting to see whether Fed Chairman Ben Bernanke will give more clarity on when the central bank will begin to taper quantitative easing, something which was designed to boost economic growth by flooding financial markets with liquidity.Steel giant EVRAZ was among the worst performers in the industrial metals sector, along with nickel producer Tavlivaara and iron ore group Ferrexpo.Also dampening sentiment today in the mining sector was the news that HSBC has cut its growth estimates for China for this year and the next, saying that changes in reforms would be negative for demand in the short term.China, one of the world's largest consumers of metals, is expected to grow by just 7.4% in 2013, according to HSBC's new forecasts. This is down from its earlier estimate of 8.2% and much lower than the 7.8% consensus forecast. China will then expand by 7.4% in 2014, down from its earlier 8.4% estimate (consensus: +7.8%), the bank predicts.The bank said that growth will slow before regaining momentum in 2015. "Once implemented, these measures should invigorate the private sector and improve efficiency, lifting growth prospects in the medium to long term."Top performing sectors so far todayFood & Drug Retailers 4,383.58 +1.56%Beverages 14,407.05 +1.07%Aerospace and Defence 5,027.53 +0.58%Software & Computer Services 1,075.72 +0.43%Technology Hardware & Equipment 1,013.52 +0.28%Bottom performing sectors so far todayIndustrial Metals & Mining 1,330.62 -2.17%Fixed Line Telecommunications 3,586.66 -2.14%Life Insurance 5,758.03 -1.16%Mobile Telecommunications 4,259.18 -1.05%Financial Services 6,556.00 -0.97%

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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