Randgold, Ryanair and Gem Diamonds

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“The FTSE100 was in positive territory in early trading following market gains in Asia. Traders will be looking to the eurozone retail purchasing-managers' index mid-morning, followed by Sentix investor confidence data for the single-currency bloc,” says AJ Bell Investment Director Russ Mould.

Randgold led the blue-chip board in early trading after full-year profits jumped by 38% and the dividend rose by 52% to $1 a share. The group had the perfect mix of higher gold prices, record output and lower costs in 2016 while exploration programmes have continued to add reserves at Loulo-Gounkoto and Sofia and expand the group’s portfolio in Cote d'Ivoire. The board has now given the go-ahead for the Gounkoto super pit and the technical and financial study on the Massawa-Sofia project in Senegal while the group has also increased its presence in target areas through a number of early-stage joint ventures. Randgold’s shares were up by more than 3.6%.

Ryanair’s shares slipped as the company’s strategy to grab market share by slashing fares saw traffic up by 16% but net profits falling by 8% in the third quarter. Ryanair continues to grow capacity and add new routes and bases at a time when other EU airlines are also adding capacity, which inevitably means the price environment remains weak. The group, though, will be encouraged that its load factor rose to a record 95% in the third quarter.

Gem Diamonds was the biggest FTSE All-Share faller after a relative paucity large special diamonds recovered during 2016 had an adverse impact upon the company's revenues and cash flows during the year. Operationally, all other production metrics were achieved but Letseng, which is renowned for large special diamonds, recovered fewer than expected. Gem Diamonds’ shares were down by over 6.2% in early trading.”

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