Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Randgold Resources Limited    RRS   GB00B01C3S32

Delayed Quote. Delayed  - 06/24 05:35:04 pm
7370 GBp   +14.18%
06/23 RANDGOLD RESOUR : Terminates Joint Venture with AngloGold Ashanti
06/23 LEGEND GOLD : Terminates Joint Venture with Randgold Resources (Mali..
06/22 RANDGOLD RESOUR : Bristow fundraising bike ride for Africa's poor pa..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

ADR Report: Shares Fall On Disappointing Earnings

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/03/2012 | 10:50pm CEST
   By Corrie Driebusch 
   Of  
 

International companies traded in New York closed lower Thursday, in line with the broader market, as disappointing earnings pressured shares.

The Bank of New York index of ADRs shed 0.8% to 125.44, weighed down by a string of companies reporting lower-than-expected first-quarter results.

Africa-focused gold miner Randgold Resources Ltd. (GOLD, RRS.LN) said Thursday its first-quarter gold production and profits were up on the year despite the political troubles in Mali, from where it derives the majority of its gold output. Shares fell 5.1% to $81.89 as revenue missed analysts' expectations.

Delhaize Group's (DEG, DELB.BT) problems look set to continue after the retailer swung to a first-quarter net loss on charges related to store closures and revamps in the U.S., where it generates more than half of its sales. Shares of the Brussels-based retailer dropped 10% to $42.69.

The European index shed 0.7% to 115.18.

Societe Generale SA (SCGLY, GLE.FR) said Thursday that first-quarter earnings at its investment bank rebounded from the tough, previous quarter but fell year-on-year, pressured by a restructuring plan aimed at sheltering the French bank from Europe's still-smoldering debt crisis. Shares tumbled 5.2% to $4.52.

Infineon Technologies AG (IFNNY, IFX.XE) shares ended off 3.8% at $9.54 as investors focused on management commentary about margin forecasts at Thursday's analyst conference. Infineon's management said it sees difficulties for several years ahead when it comes to increasing its margins.

The Asian index dropped 1.1% to 124.82, and the emerging markets index fell 1.1% to 295.31.

Output cuts across Europe's aluminum industry are hurting short-term demand for alumina, a key ingredient in the lightweight metal, and driving producer margins lower, the chief executive of Alumina Ltd. (AWC, AWC.AU) said Thursday. Shares of the Australian company fell 4.2% to $4.57.

Employees of flat-panel maker LG Display Co. (LPL, 034220.SE) are being investigated for alleged infringement of rival Samsung Mobile Display's ultra-thin technology, South Korean prosecutors said Thursday. Shares of LG Display Co. tumbled 6.1% to $10.48.

The Latin American index ended down 0.9% to 349.98.

Latin America's biggest steelmaker, Gerdau SA (GGB, GGBR3.BR, GGBR4.BR), reported net profit of 397 million Brazilian reais ($206.77 million) for the first quarter, 3% less than the BRL409 million posted in the first quarter of 2011, as costs rose and the impact of deindustrialization was felt in Brazil. Shares of Gerdau lost 2.5% to $9.13.

-By Corrie Driebusch, Dow Jones Newswires; 212-416-2143; corrie.driebusch@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on RANDGOLD RESOURCES LIMITED
06/23 RANDGOLD RESOURCES : Terminates Joint Venture with AngloGold Ashanti
06/23 LEGEND GOLD : Terminates Joint Venture with Randgold Resources (Mali)
06/22 RANDGOLD RESOURCES : Bristow fundraising bike ride for Africa's poor passes $2.4..
06/20 RANDGOLD RESOURCES : Bristow fundraising bike ride for Africa’s poor passe..
06/15 RANDGOLD RESOURCES : Vesting of Directors' Awards Under the Randgold Resources L..
06/15 RANDGOLD RESOURCES : Vesting of Directors’ awards under the Randgold Resou..
06/12 Tenke Fungurume and Ivanhoe Mines Big Winners at DRC Mining Industry Awards i..
06/10 MOTORBIKE SAFARI STOPS IN ARU, DRC : Randgold CEO Brings Hope and Assistance to ..
06/06 RANDGOLD RESOURCES : Kibali shows mining can help make a better Africa, says Ran..
06/06 RANDGOLD RESOURCES : Kibali shows mining can help make a better Africa
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials