22.10.2015 - Freeport-McMoRan showed losses due to write-offs

Freeport-McMoRan reported a loss on the background of write-off associated with operations in the oil and gas sector. The largest US mining concern and copper producer announced the revision of the plan for the mining of copper and molybdenum at certain fields in Arizona and Miami. As a result, the company reported a loss of 3.8 billion compared to $ 552 million profit for the same period last year. Revenue fell by 35% to 3.68 billion. We expect a further decline in the company's stocks by 8-10% in the near future against the backdrop of the crisis on commodity markets.

A Fantastic View from the Sky

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.