Company predicts decline in fourth-quarter revenue.
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Market Comment – Dec. 5, 2024
De Beers reduces rough prices 10% to 15%. Polished prices stable. Slow sales anticipated at Dec. sight, as prices are still higher than tenders.
Alrosa responds with 10% price cut. Manufacturing margins expected to improve.
Gem Diamonds says “inappropriate sales” in Botswana have impacted market for large rough.
Polished trading steady amid holiday demand and shortages of sought-after items.
Nov. RAPI: 0.30 ct. +1.6%, 0.50 ct. +1.4%, 1 ct. +0.1% as trend shifts after eight months of declines.
Thanksgiving weekend beats estimates, with National Retail Federation reporting 197M US shoppers.
Signet 3Q sales -3% YOY to $1.35B, profit -40% to $7M.
Alrosa sells Angola mining stake to Omani fund.