Shares of Ferrexpo (FXPO.UK), a Ukrainian iron-ore miner listed on the London Stock Exchange, are dropping over 9% today following a decision to halt operations. Company said that it was forced to temporarily halt output due to a limited power supply following Russian missile strikes on Monday, which has damaged energy infrastructure among others. Ferrexpo, however, said that it has sufficient volume of products on hand to meet expected sales volumes.
A look at Ferrexpo chart at D1 interval shows that share price retested lows from the turn of September and October in the 1.12 area this morning. Stock may remain under pressure as Russia continues strike on Ukrainian critical infrastructure and extent of the damage is hard to quantify.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
