Company
Ferrexpo PLC
LON:FXPO
Ferrexpo PLC is a resource company, headquartered in Switzerland, with assets in Ukraine. It is principally involved in the production and export of iron ore pellets, which are used in the manufacture of steel. Its asset base comprises one of the largest iron ore resources in the world. It produces around 10mln tonnes of iron ore pellets per year and with several growth projects in place is aiming to double future production. It is committed to becoming a leading global supplier of iron ore pellets, providing outstanding service to its customers and strong returns to its shareholders. It became the first Ukrainian company to be listed on the main market of the London Stock Exchange (ticker: FXPO) following a successful flotation on 15 June 2007, which made it the only pure-play iron ore company currently listed on the London Stock Exchange.
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FTSE 100 gains led by NatWest; Shell, BP up as oil continues climb
The FTSE 100 gained ground on Monday, led by NatWest and Shell
FTSE 100 closes higher as Entain rallies and gold hits record high
London's blue-chip index closed the day 32 points higher at 7,943
Ferrexpo distances itself from former chief executive after arrest
“The board of directors of Ferrexpo is seeking to clarify the situation and will update the market as appropriate," the company said in a statement
Ferrexpo says Ukraine plant gets power back after Russian missile power line attacks
However, power is limited so the group has focused on drawing down its stockpile to supply to customers
Ferrexpo suspends production after Russian missile attacks damage Ukraine's power lines
Limited power supply is available for iron ore production as it is being prioritised for essential services and local communities
Ferrexpo production falls; eight staff dead serving in Ukraine armed forces
War-related constraints are affecting logistics providers in Ukraine, while the railway network was also constrained by the increase of shipments of grain during the annual harvest season
Ferrexpo says Ukraine court rules purchase of stake in FPM is 'invalid'
Ferrexpo Poltava Mining is the operator of the Poltava mine, Ferrexpo's largest open pit operation
Ferrexpo posts 44% drop in first-half profit as war in Ukraine takes its toll
Profits fell due to Russia’s invasion of Ukraine, higher costs and a deteroration in global iron ore markets
Ferrexpo completes external assurance process on key safety metrics, greenhouse gas emissions
Ferrexpo shares were up 9.4%, outperforming the FTSE-250 index
'Significant value' in Ferrexpo but for war in Ukraine, says broker
Output was 7% lower than the broker’s original forecasts for the second quarter
Ferrexpo to curb output on logistical problems in Ukraine and higher inventories
"We are lowering our short-term production schedule for the summer months, and we will look to increase production once we have greater clarity on logistics going forward,” said chief executive Jim North
Ferrexpo to pay final dividend of US$0.066 even as Ukraine crisis continues
Ferrexpo is a major producer of iron ore for the steel industry
Ferrexpo increases its humanitarian fund in response to Ukraine war
"Our efforts through our Humanitarian Fund are focused on providing direct and relevant financial support to a number of initiatives as we become aware of them, utilising our experience of operating in Ukraine," said Ferrexpo CEO Jim North
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A look at the major movers on the London market on Friday
Is there value in Ukraine-based Ferrexpo? Credit Suisse thinks maybe if you cant take the risk
The shares represent a 30% discount related to the Ukraine conflict, it adds.
Ferrexpo unsure when it will be able to complete work on 2021 results
"The extension to 30 June 2022 will allow us additional time to work towards completing the necessary workstreams for the publication of our full-year results"
Ferrexpo establishes a humanitarian fund to support Ukraine
US$1.5mln has been allocated so far, with more funds to be provided if necessary
Ferrexpo delays full year results, as Ukraine crisis bites
Ferrexpo is the world's third largest exporter of high grade iron ore pellets to the global steel industry.
Ferrexpo issues force majeure notices to certain customers
Shares in Ferrexpo, which plunged yesterday, were up 4.9% at 149.2p in the first hour of trading on Friday.
Ferrexpo appoints iron ore veteran as permanent chief executive
As CEO, North published a formal shareholder returns policy, inaugural carbon reduction targets, and announced the wave one expansion which will add a further three million tonnes of pellet capacity
Ferrexpo appoints private equity veteran as new independent non-executive director
“Following the appointment of Ms. Polischuk, the group's board will comprise eight directors, three of which are female," said the company's chair Lucio Genovese
Covid-19 redux: what the first wave of Covid-19 infections can tell us about Omicron's possible effect on commodity markets
"History doesn't repeat itself but it often rhymes".
Ferrexpo adopts formal shareholder returns policy for dividends and special dividends
The FTSE-250 company will target a dividend payout equivalent to 30% of free cash flow
Iron ore pellets to be net carbon zero by 2050, says Ferrexpo
The London-listed company said it has undertaken an initial commitment to achieve a minimum 30% reduction, from 2019’s levels, in emissions by 2030
Ferrexpo total iron ore pellet production up 2% in third quarter
Total commercial production of both pellets and concentrate rose 6% year on year
Ferrexpo sees demand for iron ore declining from current record levels
Ferrexpo is the world's third-largest exporter of iron ore pellets
Ferrexpo announces second special dividend, expects production to rise in 2021
Iron ore pellet production is likely to be higher in the second half of 2021
Ferrexpo announces special interim dividend
Ferrexpo is a major producer of iron ore, with operations in Ukraine
Ferrexpo sees nine month production figures rise, as court tussle over share ownership continues
Ferrexpo is one of Ukraine's major iron ore producers
Ferrexpo upgraded as JP Morgan highlights strong iron ore prices and record Chinese steel production
The bank said iron ore prices had held at over US$100 per tonne “despite fears of an export surge dampening prices”
Ferrexpo flies after declaring second interim dividend
The iron ore producer declared a second interim dividend of 6.6 US cents per share, on top of the same amount declared earlier in the year
Ferrexpo downgraded to underweight as JP Morgan highlights risk from lower iron ore prices
The bank did raise its target price for the group to 150p from 130p reflecting a recent rally in the share price of the miner
Ferrexpo books iron output boost for the first half of 2016
The company announced a management reshuffle yesterday
Management changes at the top of Ferrexpo
Ferrexpo is a major producer of iron ore, with operations in the Ukraine
Ferrexpo knocked to ‘sell’ by Citi as it warns company specific risks will offset iron ore price recovery
The bank said a short mine life for Ferrexpo's Kumba project and upfront capital expenditure on pellet expansion, will “more than offset” an expected increase in free cash flow yields
Ferrexpo reassures on margins as sales remain flat
Ferrexpo said it had US$131mln of cash at the year end and US$282mln of net debt
Ferrexpo chief executive temporarily steps down to deal with Ukraine bank accusations
Chris Mawe, chief financial officer, is taking over as the iron ore pellet group’s acting chief executive
Ferrexpo review finds funds given to charity may have been misappropriated
“The company will keep the market informed of any developments, as appropriate,” Ferrexpo said.
Ferrexpo downgraded by Deutsche Bank after strong rise in shares
Deutsche Bank cut its rating on Ferrexpo to 'hold' from 'buy' but raised its target price to 325p from 310p.
Ferrexpo whips up cash as production and iron ore prices ride high
Iron ore pellet production from the FTSE 250 company’s Ukrainian mines swelled 11% in the second quarter
Investments and investor services
FTSE 100 closes in red on day but higher over the week as US jobs rebound in June
The UK's premier share index closed down around 51 points at 7,552 on the day, but over the week as a whole the index added around 1.7%.
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US job growth expected to pick up slightly in Friday’s non-farm payroll report
The US economy is expected to have added 162,000 jobs in June, up from the pitiful 75,000 that was added in May
Ferrexpo probe into charity donations yet to find any conclusive evidence of wrongdoing
"To date, after a significant amount of work on the part of our forensic accountants and legal advisors, there has been no conclusive evidence of any wrongdoing," said chairman Steve Lucas
Liberum sees value in Ferrexpo shares after drop over charity discrepancies probe
Incentive for CEO to knowingly participate in misappropriation of funds "isn't obvious given the relative risk reward", as his stake in the company is worth around US$800mln
Ferrexpo shares rally on Monday as it rejects assertion by former auditor Deloitte over Blooming Land charity review
Ferrexpo said: “The company formed its own considered view and believes it initiated the formal independent review at the appropriate time, given the other steps it was taking and all the surrounding circumstances"
Investments and investor services
Exillon Energy plunges after it calls in advisors to go over its accounts with a fine-toothed comb
A look at the day's major movers, including Bidstack, EU Supply, ReNeuron, Inspirit Energy, Prospex, Ferrexpo and Hastings Group
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FTSE 100 ends lower as US stocks retreat after mixed tech earnings
The FTSE 100 index closed 37.62 points, or 0.5% lower at 7,434.13, albeit above the session low of 7,405.99 as US stocks continued to post big falls on Thursday
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Barclays set to kick off Q1 reporting season for UK banks
Aside from Barclays numbers, the Day Ahead will also bring updates from the likes of Taylor Wimpey and RELX, plus the final CMA decision on the planned Sainsbury's/Asda merger
Ferrexpo increases dividends and boasts “successful” 2018
“We continued to benefit from the strong global demand for our high-grade iron ore pellets, which helped deliver strong cash flow despite a rise in costs"
Investments and investor services
FTSE 100 closes in positive territory, boosted by better-than-expected US March jobs figures as Brexit uncertainty continues
"Small gains are the order of the day aside from in the UK, where again sterling weakness has allowed the FTSE 100 to register some reasonable gains," says Christ Beauchamp from IG
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Pinstickers will pile onto the Grand National, but GVC update should provide more on the Cheltenham impact
Aside from the trading news from Ladbrokes Coral bookmaker's owner GVC, the main focus for the Day Ahead will be the March US non-farm payrolls data
Ferrexpo further delays publication of full-year results while it awaits further progress in independent investigation
The firm, which had promised to report full-year results on or before April 3, said it could not guarantee that the review would be complete before their release now on or before April 25
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US jobs to provide main focus, though UK PMIs still key as Brexit SNAFU continues
Aside from the UK and US data - and Brexit - corporate news in the week ahead will include updates from blue-chip budget airline easyjet and Ladbrokes Coral owner GVC Holdings
Questions swirl around Ferrexpo’s charitable donations, as final results put on hold, and auditors circle
Financial irregularities at medical and social services charity under investigation
Investments and investor services
Local Shopping REIT slides as offer terms from Thalassa disappoint
A look at the day's major movers, including SDL, First Derivatives, Ferrexpo, InfraStrata, W H Ireland, Blue Star Capital and Electrocomponents
Ferrexpo under pressure as discrepancies uncovered at CSR charity
Ferrexpo donated US$9.5mln to Blooming Land in the first half of 2018 but stopped any further donations in May.
Investments and investor services
FTSE 100 closes a shade higher as Wall Street chugs upward
The UK's premier share index added nearly 14 points to close at 7,034
Deutsche Bank upgrades Ferrexpo, raises targets for other miners on higher iron ore prices on near-term supply risks
Following the Feijao dam disaster, Vale announced plans to decommission 10 of their upstream tailings dams, impacting 40mln tonnes per annum of production capacity over a three-year period
Ferrexpo boosts production, sales volumes fall on logistical issues
The sales volumes are likely to catch up in the first half of 2019
Investments and investor services
FTSE 100 closes higher as markets climb on trade talk optimism
Trade talks between China and the US are said to be going very well, which has lit a fire under US equities
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'Big Four' supermarket sweep set to kick off with Christmas trading news from Wm Morrison
The update comes after Bradford-based Morrisons on Monday said it would cut an average of 20% from the prices of 900 products, including “store cupboard favourites”
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Slew of Christmas updates from retailers to dominate after Next's positive seasonal surprise
The Week Ahead will bring trading updates from the likes of M&S and Debenhams on the general retail front and all three of the listed UK supermarket groups – Morrisons, Sainsbury’s, and Tesco
Ferrexpo boosts production by 6% after line refurbishment
The Ukraine-based operation produced 2.66mln tonnes of pellets in the three months to September
Proactive weekly mining highlights: Ferrexpo, BHP Billiton, Premier African Minerals, Strategic Minerals, Bacanora Lithium, AfriTin Mining
It was another busy week for London's mining stocks.
Ferrexpo shares advance as Barclays sees iron pellet premiums rising
Barclays moved its rating to ‘overweight’ from ‘underweight’, and, more than doubled its price target
Investments and investor services
FTSE 100 closes strongly as commodities rally, bolstered by Wall Street gains
At the close, the UK blue chip index was up 54.70 points at 7,718.48, albeit below the session peak of 7,752.08, having recovered from a low of 7,663.20
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FTSE 100 joins European stocks to close lower as trade worries weigh
FTSE 100 lost almost 77 points to close the day at 7,575, while FTSE 250 was also down, off over 252 points at 20,548
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Bank of England widely expected to hike rates but will the decision be unanimous?
A month ago, a rate hike of a quarter of a point seemed nailed on. Most economists still think it is the most likely outcome but the decision may not be unanimous given some recent iffy economic data
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Banks in the foreground as the BoE and Fed make rate decisions; Barclays, Lloyds, RBS all report results
Aside from the raft of banking numbers in the Week Ahead, the likes of BP, Centrica, Next, Rolls-Royce, BAE Systems and Taylor Wimpey will also continue the FTSE 100 reporting splurge
Alexander Mining shares rise as it gets patent for leaching technology in Chile
A look at some of the top risers and fallers in London on Tuesday
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FTSE 100 closes in the red as markets jittery ahead of Fed interest rate decision
The UK's premier index closed down around 22 points at 7,038, while the FTSE 250 shed over 55 points at 19,668.
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B&Q stores chain Kingfisher to provide hints to health of UK retail sector with full-year results
The day ahead includes full-year results from FTSE 100 DIY retailer Kingfisher PLC, plus the latest Federal Reserve rate decision, and UK unemployment and average earnings data
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Markets await interest rate decisions from Bank of England and Federal Reserve
The week ahead includes policy announcements from the Bank of England and Federal Reserve along with corporate earnings from Bellway, Next, Ted Baker, Kingfisher and Wood Group
FTSE 100 reaches new closing high with supermarkets in support
London's top tier index reached a new record high on Tuesday, led by supermarket shares
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Wm Morrison set to start Christmas trading supermarket sweep
Day ahead includes trading updates from food retailer Wm Morrison Supermarkets PLC, housebuilder Perimmon PLC, and staffing group Robert Walters PLC
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Updates from UK food retailers on the menu, as well as high street stalwart M&S in coming week
Week ahead includes trading updates from supermarkets Wm Morrison Supermarkets, J Sainsbury, Tesco, John Lewis's Waitrose, plus clothing retailer Marks & Spencer
TP ICAP downed by Macquarie, but Exane BNP gives Man Group a lift
A look at some of the top risers and fallers in London in afternoon trading
FTSE 100 closes in negative territory as pound strengthens
The FTSE 100 index closed 14.98 down at 7,507, above the day’s low of 7,496.14, and well below the opening high of 7,523.65
FTSE 100 closes firmly in positive territory as sterling slides
The FTSE 100 rose to within a couple of points of 7,500 after US markets opened higher
Investments and investor services
Investors cautiously await DFS Furniture financials
DFS in August cautioned that earnings would be at the lower end of guidance.