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Major stock market indexes in Europe traded higher on Tuesday's premarket ahead of the Eurozone consumer confidence data scheduled to be revealed in the coming hours. Investors also awaited the latest lending survey report of the European Central Bank which should give more information on bank lending conditions in the area.
The DAX gained 0.18% at 8:01 am CET, while the CAC 40 added 0.05%, and the FTSE 100 increased 0.30%. The pan-European Euro Stoxx 50 rose 0.13%.
The euro and the British pound improved by 0.27% and 0.30% against the dollar at 7:58 am CET, selling for $1.09136 and $1.27461 at the same time.
Baha Breaking News (BBN) / DD
Major stock market indexes in Europe traded higher on Tuesday's premarket ahead of the Eurozone consumer confidence data scheduled to be revealed in the coming hours. Investors also awaited the latest lending survey report of the European Central Bank which should give more information on bank lending conditions in the area.
The DAX gained 0.18% at 8:01 am CET, while the CAC 40 added 0.05%, and the FTSE 100 increased 0.30%. The pan-European Euro Stoxx 50 rose 0.13%.
The euro and the British pound improved by 0.27% and 0.30% against the dollar at 7:58 am CET, selling for $1.09136 and $1.27461 at the same time.
Baha Breaking News (BBN) / DD
Gold currently + .75 $2036.21
Stock equities in Europe traded higher in the premarket hours on Monday with European Union foreign ministers expected to convene a meeting addressing the crisis in Ukraine and the Middle East.
European Union's High Representative for Foreign Affairs and Security Policy Josep Borrell is expected to present his peace proposal for ending the war in Gaza. The week will be marked by earnings releases around the world, with consumer confidence data for Europe to be released on January 23.
The Euro Stoxx 50 climbed 0.68% at 8:01 am CET. The CAC 40 added 0.18%. The DAX rose 0.19%. The FTSE 100 gained 0.24%. The euro traded 0.06% higher against the dollar, changing hands at 1.09013. Meanwhile, the pound sterling was flat compared to the greenback, selling at 1.27072.
Baha Breaking News (BBN) / AB
Happy Monday y’al
Stock equities in Europe traded higher in the premarket hours on Monday with European Union foreign ministers expected to convene a meeting addressing the crisis in Ukraine and the Middle East.
European Union's High Representative for Foreign Affairs and Security Policy Josep Borrell is expected to present his peace proposal for ending the war in Gaza. The week will be marked by earnings releases around the world, with consumer confidence data for Europe to be released on January 23.
The Euro Stoxx 50 climbed 0.68% at 8:01 am CET. The CAC 40 added 0.18%. The DAX rose 0.19%. The FTSE 100 gained 0.24%. The euro traded 0.06% higher against the dollar, changing hands at 1.09013. Meanwhile, the pound sterling was flat compared to the greenback, selling at 1.27072.
Baha Breaking News (BBN) / AB
Happy Monday y’al
Gold $2021.39
Iran and P akistan
Incase you hadn’t figured.
iranian foreign minister hossein amir-abdollahian and his ****stani counterpart jalil abbas jilani held a phone call on friday and agreed to "deescalate the situation" after the two countries conducted airstrikes on militant targets in each other's territory in the previous days.
"the two foreign ministers agreed that working level cooperation and close coordination on counter terrorism and other aspects of mutual concern should be strengthened," the ****stani foreign ministry said in a statement.
according to the document, the two ministers also discussed the return of iranian and ****stani ambassadors to tehran and islamabad.
baha breaking news (bbn) / jj
*i’d prefer the two countries listed were russia and ukraine but i run and ****stan will do for starters.
enjoy your weekend y’al.
Major European stock indexes traded higher in the premarket on Friday as investors awaited the latest reading on Germany's producer prices and United Kingdom's retail sales.
The DAX was 0.18 higher at 8:00 am CET. Simultaneously, the FTSE rose 0.12%, the CAC 40 grew 0.18% and the Euro Stoxx 50 increased 0.39%.
The euro traded 0.11% higher compared to the dollar at 7:58 am CET, going for 1.08810. At the same time, the pound was flat against the dollar, selling for 1.26967.
Baha Breaking News (BBN) / DD
Happy Friday y’al
Enjoy your weekend
Major European stock indexes traded higher in the premarket on Friday as investors awaited the latest reading on Germany's producer prices and United Kingdom's retail sales.
The DAX was 0.18 higher at 8:00 am CET. Simultaneously, the FTSE rose 0.12%, the CAC 40 grew 0.18% and the Euro Stoxx 50 increased 0.39%.
The euro traded 0.11% higher compared to the dollar at 7:58 am CET, going for 1.08810. At the same time, the pound was flat against the dollar, selling for 1.26967.
Baha Breaking News (BBN) / DD
Happy Friday y’al
Enjoy your weekend
The ousted boss of Endeavour Mining has been stripped of more than £20million of pay just weeks after he was fired for gross misconduct.
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Sebastien de Montessus, who had led the gold miner since 2016, was sacked earlier this month after an investigation into two separate incidents including an irregular payment of £5million relating to the sale of a company asset as well as allegations about his personal conduct.
Endeavour Mining said he will lose £23million of pay, including £14million relating to a bonus for 2023 and unvested share awards.
The board also wants to retrieve £9million of payments from previous years.
It comes just one month after oil giant BP decided to strip former chief executive Bernard Looney of £32million in pay and bonuses following a scandal over his behaviour.
Endeavour, which is the largest gold producer in West Africa, became aware of the irregular payment during a review of its acquisitions and sales of parts of the business.
It is unclear where the payment was directed and a review is ongoing into the details.
De Montessus, 49, faces separate allegations over his conduct with colleagues, reported in October through a ‘confidential whistleblowing channel’ and which have prompted an external investigation, Endeavour said.
He was among the highest-paid Footsie bosses, earning £8.9million in 2022, and £18.8million the year before.
https://www.dailymail.co.uk/money/markets/article-12980575/Ousted-Endeavour-Mining-boss-stripped-23m-misconduct-scandal.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
Looks like the market liked today’s update?
A couple of decent broker updates in the next few days will further push the share price.
Europe's major stock markets are set to open higher on Thursday as market participants closely follow the World Economic Forum in Davos, Switzerland.
Yesterday, several European central bankers in Davos sharply criticized interest rate cuts and warned that, despite progress in the fight against inflation, markets have gotten ahead of expectations for rate cuts in the spring.
The DAX gained 0.32% at 8:01 am CET, while the CAC 40 added 0.29%, and the FTSE 100 rose 0.11%. The pan-European Euro Stoxx 50 went up 0.42%. The euro and the British pound improved by 0.22% and 0.12% against the dollar at 7:59 am CET, selling for $1.09054 and $1.27001 at the same time.
Baha Breaking News (BBN) / JG
New Sukari Life of Mine Plan completed: the plan delivers increased gold production, lower operational costs, reduced operational risk and significantly reduced carbon emissions. Link to full announcement here
· Group Proven & Probable ("P&P") Mineral Reserves increased by 3.5 million ounces ("Moz") since 2020, before depletion, and exceeding the Company's stated multi-year target of 3.0Moz. This growth has been driven by an increase in Sukari reserves by approximately 1.6Moz and declaration of maiden reserves at Doropo of 1.9Moz. Link to full announcement here
· Robust balance sheet: cash and liquid assets of US$153 million, as at 31 December 2023 and total liquidity of US$303 million including the undrawn US$150 million sustainability-linked revolving credit facility
· The Company will publish its audited full year 2023 financial results on 21 March 2024.
OUTLOOK
2024 guides to a year of higher production at lower costs
· Gold production guidance range of 470,000 to 500,000 oz per annum weighted evenly between H1:H2 (50:50)
· Cost guidance:
o Cash cost guidance range of US$700-850/oz produced, and
o AISC guidance range of US$1,200-1,350/oz sold
o Guidance reflects a range of diesel prices from 75-90 US cents per litre https://www.lse.co.uk/rns/CEY/quarterly-report-uxnt8mbysiy2pt5.html
For the three months ended 31 December 2023 (unaudited)
MARTIN HORGAN, CEO, commented: "In 2023, Centamin delivered another excellent performance, underpinned by our improved safety results. We have extended our track record of meeting production guidance to a third year and importantly through our culture of continuous improvement we have beaten our AISC guidance for 2023.
We look forward to 2024, guiding for another increase in annual gold production. Combined with our disciplined approach to managing operating costs, Centamin is extremely well-positioned to benefit from the current strong gold price environment, as we complete our capex reinvestment programme and connect Sukari to the Egyptian national grid.
Our strategic focus remains on growth as we continue to define and convert resources to reserves at Sukari, build on our recent exploration success at EDX and progress towards a financial investment decision at Doropo in Cote d'Ivoire.
I would like to thank the whole team for their ongoing hard work and dedication to deliver this outcome, and to our broader stakeholders for their support as we position Centamin for 2024 and beyond."
HIGHLIGHTS
2023 production guidance delivered
· Achieved 9.5 million hours worked at the Sukari Gold Mine ("Sukari") with zero lost time injuries ("LTI"). The Group recorded zero LTIs in the fourth quarter ("Q4") across all assets and one LTI for the twelve months ended 31 December 2023 ("FY"). The Group's total recordable injury rate ("TRIFR") for Q4 was 0.97 per one million hours worked, representing 67% improvement compared to Q4 2022 ("YoY")
· Annual gold production delivered in line with 2023 guidance (450-480koz): Q4 production of 128,127 ounces ("oz"), totalling 450,058 oz produced for 2023
· Annual revenue of US$892 million: Q4 revenue of US$265 million, generated from gold sales of 133,465 oz at an average realised gold price of US$1,983/oz sold; FY23 revenue of US$892 million, generated from gold sales of 456,625 oz at an average realised gold price of US$1,948/oz sold
· Annual cash costs delivered at the lower half of the 2023 guidance range (US$840-990/oz): Q4 cash costs of US$984/oz produced, resulting in an average annual cash cost of US$895/oz produced for 2023
· Annual all-in sustaining costs ("AISC") beat 2023 guidance (US$1,250-1,400/oz sold): Q4 AISC of US$1,172/oz sold, resulting in an average annual AISC of US$1,220/oz for 2023, beating the bottom end of guidance by US$30/oz
· Annual capital expenditure ("capex") of US$204 million below guidance of US$272 million: Q4 spend of US$36 million, impacted by savings from lower diesel prices, lower than expected capitalisation of operating costs, deferral of the grid power project deposit payment to Q1 2024 and changes to the equipment rebuild schedule
*Cont.
Europe's major stock markets are set to open higher on Thursday as market participants closely follow the World Economic Forum in Davos, Switzerland.
Yesterday, several European central bankers in Davos sharply criticized interest rate cuts and warned that, despite progress in the fight against inflation, markets have gotten ahead of expectations for rate cuts in the spring.
The DAX gained 0.32% at 8:01 am CET, while the CAC 40 added 0.29%, and the FTSE 100 rose 0.11%. The pan-European Euro Stoxx 50 went up 0.42%. The euro and the British pound improved by 0.22% and 0.12% against the dollar at 7:59 am CET, selling for $1.09054 and $1.27001 at the same time.
Baha Breaking News (BBN) / JG
Happy numbers day y’al
May the report be well received by the market and may the shares rise considerably.
Bol to you all.
Gold currently $2012.69
Precious metals traded with losses on Wednesday, with gold dipping to its lowest point since mid-December 2023, as investors fretted over the future steps of the Federal Reserve.
With hotter-than-anticipated retail sales data in the United States and the most recent remarks from Fed Governor Christopher Waller, hopes that the central bank could start cutting interest rates as early as March seemingly diminished, raising further concerns about the Fed's monetary policy path. This apparently sent US Treasury yields up and gold in the opposite direction.
Gold tumbled 1% to go for $2,008 per ounce at 10:55 am ET. Silver slid 1.34%, selling at $22.61 per ounce a minute later. Platinum plummeted 2% to $882.79 per ounce at 10:56 am ET. Palladium plunged 2.91% to $898 per ounce at the same time.
Baha Breaking News (BBN) / AY
With the solid gold price in the forth quarter there could be some surplus cash leading to a one-off dividend or talk of dividend reinstatement.
🤗
Major European stock equities traded lower during the premarket hours on Wednesday as market participants anticipated fresh readings on consumer and inflation prices in the United Kingdom.
In the coming hours, Eurostat will publish an inflation report for the euro area, which could shape the European Central Bank's monetary policy this year. Meanwhile, French President Emmanuel Macron and Spanish Prime Minister Pedro Sanchez will take the stage at the World Economic Forum in Davos later today.
London's FTSE 100 slumped 1.05%.
The Euro Stoxx 50 fell 1.06%.
Frankfurt's DAX fell 0.42%.
The CAC 40 dropped 0.54%.
The euro was down 0.09% against the dollar, to sell at 1.08630, trading at its lowest level since mid-December minutes before. The pound sterling dipped 0.16% versus the greenback, going for 1.26101.
Baha Breaking News (BBN) / AB
Happy hump y’al
Major European stock equities traded lower during the premarket hours on Wednesday as market participants anticipated fresh readings on consumer and inflation prices in the United Kingdom.
In the coming hours, Eurostat will publish an inflation report for the euro area, which could shape the European Central Bank's monetary policy this year. Meanwhile, French President Emmanuel Macron and Spanish Prime Minister Pedro Sanchez will take the stage at the World Economic Forum in Davos later today.
London's FTSE 100 slumped 1.05%.
The Euro Stoxx 50 fell 1.06%.
Frankfurt's DAX fell 0.42%.
The CAC 40 dropped 0.54%.
The euro was down 0.09% against the dollar, to sell at 1.08630, trading at its lowest level since mid-December minutes before. The pound sterling dipped 0.16% versus the greenback, going for 1.26101.
Baha Breaking News (BBN) / AB
Happy hump y’al
Gold currently $2018.50
- which is controlled by tracksuit tycoon Mike Ashley - has tightened its grip on Asos; the retail giant, whose brands include Sports Direct, House of Fraser and Flannels, increased its control of the fast fashion business from 17.9% to 24.1%.
https://www.dailymail.co.uk/money/markets/article-12968457/Mike-Ashleys-Frasers-Group-tightens-grip-beleaguered-Asos.html?ns_mchannel=rss&ns_campaign=1490&ito=1490