Company
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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Investments and investor services
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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The US economy is expected to have added 162,000 jobs in June, up from the pitiful 75,000 that was added in May
"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
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 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
A look at the day's major movers, including Bidstack, EU Supply, ReNeuron, Inspirit Energy, Prospex, Ferrexpo and Hastings Group
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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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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
“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
"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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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
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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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
Financial irregularities at medical and social services charity under investigation
Investments and investor services
A look at the day's major movers, including SDL, First Derivatives, Ferrexpo, InfraStrata, W H Ireland, Blue Star Capital and Electrocomponents
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
The UK's premier share index added nearly 14 points to close at 7,034
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
The sales volumes are likely to catch up in the first half of 2019
Investments and investor services
Trade talks between China and the US are said to be going very well, which has lit a fire under US equities
