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Premarket London: Evraz Q3 Output Slumps on Weak N. American Demand

Published 01/11/2019, 07:04
Updated 01/11/2019, 07:17
© Reuters.

Investing.com -- Here's a roundup of the regulatory news releases from the London Stock Exchange on Friday, 1st November. Please refresh for updates.

  • Russian-based coal and steel group Evraz (LON:EVRE) said its total crude steel productions fell 3.4% in the third quarter from the previous three months, due largely to weaker demand at its U.S. and Canadian mills. Output at the Russian mills also dipped due to scheduled maintenance.

    • Output of coking coal also fell 9.7% on the quarter, as the company focused on whittling down unsold stocks. External sales of coking coal products were flat overall.

    External sales of iron ore products fell 31% on the quarter due to capital repairs at its KGOK complex.

  • Building materials group CRH (LON:CRH) said it had completed the 1.64 billion euro ($1.83 billion) disposal of its Europe distribution business, announced in July.

  • Mining group BHP (LON:BHPB) said it had taken a step to restarting production at the Samarco mine in Brazil, which has been out of action since a fatal dam burst in 2015. The company said it had approved $44 million in spending related to the restart of a concentrator at the complex. The money will be used to construct a filtration plant over the next 12 months

  • Rentokil (LON:RTO) said it had agreed to buy Florida Pest Control, a company with some $66 million in annual revenues. Terms of the deal weren't disclosed.

  • Broking group TP ICAP (LON:TCAPI) said revenue rose 13% in currency-adjusted terms from a year earlier in the third quarter, with a strong performance in rates offsetting weaker credit and equities activity and pushing the biggest division, global broking, to a 10% increase.
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  • It also said recent hires and acquisitions had boosted its energy and commodities business, where revenue grew 24%.

  • However, the group didn’t upgrade its full-year guidance for growth of less than 10% in constant currencies. It said “current geopolitical uncertainties…may have an impact on transaction volumes in the fourth quarter.”

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