Shares of Facebook Inc were down around 1 percent on Thursday, in line with moves in other major tech shares as Wall Street largely shrugged off outrage around the company's decision to block all news content in Australia.
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(Reuters) - Hochschild Mining on Thursday said a boost from higher metal prices helped it to a net cash position for the first time in eight years, driving its shares up nearly 6% though full-year core earnings dropped on pandemic-driven disruptions.
The precious metals miner said its average realised prices for gold rose 28% in 2020 as the coronavirus crisis spurred investors to buy into bullion’s relative safety. Spot gold jumped almost 25% last year, while silver prices gained 47.8%.
“We have delivered strong financial results in 2020, despite the impact of the Covid-19 related stoppages. Higher precious metals prices combined with strong free cashflow generation saw us finish the year in a net cash position for the first time in eight years,” Chief Executive Officer Ignacio Bustamante said.
Fortescue Metals Group boosted its dividend payout on Thursday but a cost blowout at a key development project in Western Australia tarnished its ambitions to become a green energy powerhouse.
Shares of GameStop briefly reversed losses on Thursday after the trader known as Roaring Kitty told a congressional hearing he remained optimistic about the stock following its recent rally and selloff.
By Reuters Staff
(Adds detail, spin-off confirmation, 2020 earnings)
MADRID, Feb 18 (Reuters) - Spanish energy and engineering company Acciona is planning to hive off and list its renewable power business on the stock market, the company said on Thursday as it posted an 8% rise in annual profit.
While the scale and structure of the listing have yet to be defined, at least 25% of the new company would be floated and Acciona would remain the majority shareholder.
The listing, which would include the entire energy business apart from a stake in turbine maker Nordex, is likely this year to take advantage of strong demand for clean-energy projects.