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The Daily Update: 25 April

July 17, 2023
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FinMeUp
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FinMeUp

The latest updates from the JSE and NYSE over the past 24 hours.

 

South Africa

Anglo American PLC- Production Report for the first quarter ended 31 March 2023

  • Copper production increased by 28% due to the ramp-up of production at the Quellaveco copper mine in Peru.
  • Steelmaking coal production increased by 59% due to all three longwall operations running during the quarter.
  • Iron ore production increased by 15%, with improved operational performance at Kumba and Minas-Rio.
  • Nickel production increased by 4% due to improved operational performance.
  • Rough diamond production remained flat.
  • Metal in concentrate production from PGMs decreased by 6% due to unplanned maintenance and lower grades.
  • The company is partnering with H2 Green Steel to trial the use of iron ore products from Kumba and Minas-Rio.
  • Production and unit cost guidance for 2023 is unchanged across all business units.

Kumba Iron Ore Limited- Production and sales report for the first quarter ended 31 March 2023

  • Kumba produced a total of 9.4Mt iron ore, up 14% from the prior corresponding period, and recorded sales of 9.5Mt, up 38% from the previous quarter.
  • Despite one fatality recorded at Kolomela mine, Kumba remains resolute in its commitment to achieving zero harm and preventing fatalities in the workplace.
  • Kumbas average realised free on board (FOB) export iron ore price was US$121 per wet metric tonne (wmt) or US$123 per dry metric tonne (dmt), compared to the average benchmark price of US$110/wmt or US$112/dmt.

 

The U.S.

McDonald's Earnings

  • EPS of $2.63 beating expectations of $2.33.
  • Revenue of $5.9B beating expectations of $5.6B.

Verizon Earnings

  • EPS of $1.20 beating expectations of $1.19.
  • Revenue of $32.9B missing expectations of $33.6B.

Halliburton Earnings

  • EPS of $0.72 beating expectations of $0.67.
  • Revenue of $5.7B beating expectations of $5.5B.

General Motors Earnings

  • EPS of $2.21 beating expectations of $1.71.
  • Revenue of $40B beating expectations of $39B.

Pepsi Earnings

  • EPS of $1.50 beating expectations of $1.39.
  • Revenue of $17.85B beating expectations of $17.3B.

Spotify

  • Spotify has now passed 500 Million monthly active users.

 


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