Value of rough diamond sales at Anglo's De Beers dips; Dalata back in the black

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The value of rough diamond sales at Anglo American’s De Beers dipped to $630m in the seventh cycle of the year from $638m in the sixth.

However, the value was up from $522m in the seventh cycle of last year.

Chief executive officer Bruce Cleaver said: "De Beers Group rough diamond sales continued at a steady level in the seventh sales cycle of 2022.

"In line with normal seasonal trends, we anticipate that sales in the next few cycles will be affected by the temporary closure of polishing factories for the Diwali holidays."

Elsewhere, Dalata Hotel Group moved back into the black at the half-year stage on the back of a more than five-fold jump in revenues.

The company said that its profits before tax rose to €52.0m, following €37.8m of red ink for the comparable year ago period. Profits were also 39% higher on the front half of 2019, before the pandemic. At €220.2m meanwhile, revenues were ahead by 9.1% on the first six months of 2019 to reach €220.2m. Group occupancy hit 89% in July/August.

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US close

US stocks closed in negative territory on Tuesday, adding to the losses it recorded in the previous session, despite the release of a batch of better-than-expected economic data.

The Dow Jones Industrial Average ended the session down 0.96% at 31,790.87, as the S&P 500 lost 1.1% to 3,986.16 and the Nasdaq Composite was off 1.12% at 11,883.14.