MMGposts its third loss in a row
MMGLtd, the miner owned by China’s top State-owned metals trader, posted a third straight half-yearly loss as revenue dropped 47 percent due to lower prices and the closure of a zinc mine in Australia. Its shares fell. Its net loss widened to $93 million in the first six months, from $48 million a year earlier, according to a statement on Tuesday. Revenue sank to $586 million from $1.1 billion. The closure of the company’s Century zinc mine, lower copper output in Laos and declining metals prices all hit sales. after the Asian market recovers from its first quarterly drop in five years. Chinese ticket sales are poised to increase 22 percent to $10.4 billion next year, according to average projections at IHS Markit Ltd and PricewaterhouseCoopers LLP. That would edge above the $10.2 billion average forecast for the US market. biggest social network and online entertainment firm, posted a 47 percent jump in second-quarter profit, beating analysts’ estimates, as revenue grewat its fastest rate in more than three years. Net income for the quarter ended June rose to 10.9 billion yuan ($1.64 billion), outpacing estimates of 9.8 billion yuan, according to a poll of nine analysts.