Mexico yet to see formal U.S. plan to deport migrants due to coronavirus

MEXICO CITY (Reuters) – The Mexican government has not yet received a formal proposal from the United States about migrants in that country being returned to Mexico due to coronavirus, Mexico’s foreign ministry said a brief statement late on Tuesday.

The statement added that Mexico would analyze the reach of such a proposal and act in defense of its interests as well as considerations including public health and human rights.

BRIEF-Abu Dhabi, Dubai shares rise in early trade

March 18 (Reuters) – * Abu Dhabi Securities Exchange index up 2.7% * Dubai Financial Market index up 1.7% * Boursa Kuwait down 0.5 % * U.S. stock futures and several Asian shares fell in choppy trade on Wednesday (Reporting by Alexander Cornwell)

Marston’s 24-week LFL Sales In Pubs Down 1% – Quick Facts

Marston’s plc (MARS.L) reported that, for the 24 weeks to 14th March, like-for-like sales in its pubs were 1% below last year. In Marston’s Beer Company, beer volumes were in line with expectations, the Group said.

Regarding COVID-19, Marston’s plc stated that it is unable to quantify the impact on financial and trading performance at this stage. The Group projects a reduction to expectations for fiscal 2020.

Marston’s plc said the impact from COVID-19 on trading has been marginal to date and pub like-for-like sales have been broadly flat over the last two weeks. However, the Group expects the Government’s advice to avoid pubs will result in significantly lower sales in the coming weeks.

Stock Alert: Lindsay Jumps 23% Despite Touching New Low

Shares of irrigation and infrastructure equipment maker Lindsay Corporation (LNN) surged $17.38 or 23.94% on Tuesday before closing at $89.97.

The stock touched a new low of $71.86 yesterday in the early trade. The 52-week high of the stock is $111.76.

The company on Monday, had announced that it has been awarded a contract worth $28 million for its Road Zipper System solution consisting of movable barriers and barrier transfer machines, from Highways England for Kent city, U.K.

Highways England plans to make the entire system and related traffic management scheme to be fully operational by December 31, 2020.

Ferrexpo FY Profit Rises – Quick Facts

Ferrexpo Plc. (FXPO.L) reported that its profit attributable to equity shareholders for the 12 months ended 31 December 2019 rose to US$402.37 million or 68.4 cents per share from US$333.62 million or 56.7 cents per share in the prior year.

Profit for the year increased 20% to US$403 million from US$335 million in 2018, reflecting a 16% increase in operating profit and lower net financial expense, offset by a non-operating foreign exchange loss.

Profit before tax was $459.58 million, up from $392.02 million in the prior year.

Group revenue increased by 18% to US$1.5 billion from last year’s US$1.3 billion, principally due to a 17% increase in Ferrexpo’s realised free on board price and an increase in pellet sales volumes. Higher realised prices during the period mainly reflected a significant increase in the iron ore fines price.

Ferrexpo said,”The spread of the virus into Europe, however, could result in further economic uncertainty. Prior to the virus, we had expected steel profitability in Europe to show a mild recovery in key markets from the second half of the year onwards.”

Sodexo: H1 In Line With Internal Forecasts – Quick Facts

Sodexo (SDXAY.PK) said its first half results are projected to be in line with internal forecasts and aligned with fiscal 2020 annual guidance. The first half figures include a mild shortfall in revenues in China and Italy due to COVID-19.

Regarding COVID-19, the company said Sodexo teams are adhering to guidelines of health advisories and local authorities. Currently, Sodexo estimates an impact of around 2 billion euros on annual revenues. Sodexo said, while it remains confident on its financial position and the midterm positive perspectives, the company has decided to suspend guidance confirmed in January until the situation stabilizes.

Stock Alert: Lindsay Jumps 23% Despite Touching New Low

Shares of irrigation and infrastructure equipment maker Lindsay Corporation (LNN) surged $17.38 or 23.94% on Tuesday before closing at $89.97.

The stock touched a new low of $71.86 yesterday in the early trade. The 52-week high of the stock is $111.76.

The company on Monday, had announced that it has been awarded a contract worth $28 million for its Road Zipper System solution consisting of movable barriers and barrier transfer machines, from Highways England for Kent city, U.K.

Highways England plans to make the entire system and related traffic management scheme to be fully operational by December 31, 2020.

Vodafone Idea tanks 40% after SC says all dues needs to be paid with interest and penalty

The company on Monday paid ₹3,354 crore to the Department of Telecommunications.

Shares of Vodafone Idea tanked as much as 40% to touch ₹2.91 on Wednesday after Supreme Court directed that self-assessment of adjusted gross revenues (AGR) dues is violation of SC order and no exercise of self-assessment be carried out and no further objection would be entertained against payable dues.

Shares of Vodafone Idea were trading down 28.66% at ₹3.46 in a weak Mumbai market on Wednesday noon.

In its order, the three-judge bench led by Justice Mishra, and comprising Justices S. Abdul Nazeer and M.R. Shah held that no self-assessment can be done and no further objection would be entertained.

The company on Monday paid ₹3,354 crore to the Department of Telecommunications (DoT) being the balance part of the principal amount towards adjusted gross revenue (AGR) liability, according to its self assessment of the dues.

Vodafone Idea recently computed its AGR dues at ₹21,533 crore, way below the over ₹58,000 crore pegged by the Department of Telecommunications (DoT).

Explained | Vodafone and Airtel’s historic losses