Ferrexpo shares surge on production restart and listing reinstatement

Shares of Ferrexpo surged more than 33.6% in the session as the iron-ore producer announced it had resumed mining and pelletising at its Ukrainian facilities, bringing one pellet line back into production after a suspension prompted by Black Sea logistics disruptions.

The company mobilised operations over the weekend after completing a US$100 million fundraising announced on 4 September, enabling production to restart quickly. Given continued attacks on ports and vessels in the Black Sea, Ferrexpo said it plans to concentrate exports on European customers.

Supporting the share-price move was a second, equally significant corporate development: the Financial Conduct Authority said it would restore Ferrexpo's securities to the Official List, effective 7 September 2026 at 07:30 GMT/BST.

The ordinary shares had been suspended from listing and trading since 7:30 a.m. on 1 May 2026 due to a delay in the Group's publication of its audited consolidated accounts for the year ended 31 December 2025. The reinstatement allowed investors to finally respond to the operational recovery news, prompting a sharp re-rating from deeply depressed levels.

The broader UK market provided no significant tailwind that day. London equities opened lower as investors weighed surprisingly strong US employment figures against another rise in oil prices, with the FTSE 100 trading around 10,810 shortly after the open, down roughly 0.2%.

Friday's US employment report complicated the interest-rate outlook, as non-farm payrolls increased by 162,000 in August while unemployment held at 4.1%. The cautious macro backdrop underscored that Ferrexpo's outsized move was driven entirely by its own corporate developments.

The convergence of three company-specific events — completion of the equity raise, the FCA's formal listing restoration, and confirmed production restart — created an unusually powerful catalyst stack for a single session. With the stock still well below its 52-week high, the market's reaction reflected both relief that going-concern risk had been addressed and renewed optimism about resuming supply to European steel mill customers.

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