Petra Diamonds debt towers over stock after Finsch bailout
Petra Diamonds Limited shares climbed in London on Tuesday. For investors, though, the bigger takeaway isn’t the price move. The market cap is still only around an eighth of net debt, so lenders, diamond tender results, and the Finsch turnaround hold more sway over the company’s future than the share price does. The dateline comes after the London Stock Exchange closed at 16:30 BST. The exchange’s calendar put June 30 as a regular trading day, open from 08:00 to 16:30.