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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Fresnillo plc    FRES   GB00B2QPKJ12

FRESNILLO PLC

(FRES)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 01/19 11:12:15 am
1077.25 GBX   -0.99%
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U.S. recession fears, Brexit jitters batter UK shares

03/25/2019 | 12:25pm EST
FILE PHOTO: The London Stock Exchange offices in the City of London, Britain

(Reuters) - Britain's FTSE 100 slipped as fears of a recession in the United States triggered a sell-off in global markets, while the mid-cap index was battered by uncertainty over the next steps in Brexit.

The FTSE 100 fell 0.4 percent and the domestically-focussed FTSE 250 shed 1.1 percent to hit its lowest since Feb. 12.

Last week's cautious remarks from the U.S. Federal Reserve and weak manufacturing data from Germany and the United States once again raised concerns about the world economy, making stocks, generally considered riskier assets, less appealing.

Prime Minister Theresa May battled to keep control of Britain's exit from the European Union on Monday as some in her party called on her to quit and parliament plotted to wrest the Brexit process away from her government.

Nearly three years since the 2016 EU membership referendum, it is still unclear how, when or if Brexit will take place.

CityIndex analyst Ken Odeluga said Monday's sell-off suggested a deliberate strategy among large investors to reduce British mid-cap stocks.

"The motivation for such a strategy is that it would be remiss for any investor to overlook the worsening near-term prospects with regard to high-sterling revenue earners given that Brexit scenarios remain in active, live flux," Odeluga said.

Stocks fell across the board. Sterling gained on reports of a possible third vote to try and get May's twice-defeated Brexit deal through, and along with a weaker dollar, dragged down internationally exposed components. [O/R]

However, losses on the main bourse were somewhat contained as a survey showed German business morale improved unexpectedly in March and after former U.S. Fed chair Janet Yellen said the U.S. Treasury yield curve may signal the need to cut interest rates at some point, but it does not signal a recession.

Fresnillo outperformed the FTSE 100 with a 2 percent gain as safe-haven assets such as gold were in demand.

Stocks on the mid-cap index were also pummelled, but Inmarsat jumped 9.6 percent to its highest since early September, after a private equity-led consortium agreed to buy the satellite operator for about $3.4 billion.

Oilfield and engineering services provider Wood Group skidded 7.6 percent after Jefferies cut its rating and flagged upcoming dividend risk.

"Company-specific news may drive immediate selling decisions, but the over-arching environment for politically-sensitive assets has a deepening negative bias. That's partly because objective no-deal risk persists, and paradoxically, it may even have increased," Odeluga said.

(Reporting by Shashwat Awasthi and Pushkala Aripaka in Bengaluru; editing by Larry King and Andrew Heavens)

By Shashwat Awasthi and Pushkala Aripaka


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRITISH POUND (EUR/GBP) 0.17% 0.8904 Delayed Quote.-0.48%
EURO / US DOLLAR (EUR/USD) 0.39% 1.21241 Delayed Quote.-1.12%
FRESNILLO PLC -1.29% 1074 Delayed Quote.-3.67%
JOHN WOOD GROUP -5.47% 329.7 Delayed Quote.12.51%
MSCI UNITED KINGDOM (STRD, UHD) -0.25% 1066.915 Real-time Quote.3.74%
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Financials (USD)
Sales 2020 2 362 M - -
Net income 2020 340 M - -
Net Debt 2020 251 M - -
P/E ratio 2020 31,7x
Yield 2020 1,36%
Capitalization 10 888 M 10 883 M -
EV / Sales 2020 4,72x
EV / Sales 2021 3,57x
Nbr of Employees 5 510
Free-Float 25,0%
Chart FRESNILLO PLC
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Technical analysis trends FRESNILLO PLC
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 16,21 $
Last Close Price 14,78 $
Spread / Highest target 47,6%
Spread / Average Target 9,71%
Spread / Lowest Target -38,1%
EPS Revisions
Managers and Directors
NameTitle
Octavio Alvidrez Cano Chief Executive Officer
Alberto Baillères González Non-Executive Chairman
Tomas Iturriaga Hidalgo Chief Operating Officer
Mario Arreguín Frade Chief Financial Officer
Fernando Benjamín Ruíz Sahagún Independent Non-Executive Director
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