The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAnglo American Share News (AAL)

Share Price Information for Anglo American (AAL)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,626.50
Bid: 2,621.50
Ask: 2,627.00
Change: 11.50 (0.44%)
Spread: 5.50 (0.21%)
Open: 2,633.00
High: 2,635.00
Low: 2,622.50
Prev. Close: 2,615.00
AAL Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET CLOSE: Pound boosted after BoE's Bailey talks rate cuts

Tue, 20th Feb 2024 16:52

(Alliance News) - Stock prices in London closed lower on Tuesday, whilst the pound bounced back, after the Bank of England's Andrew Bailey talked interest rate cuts.

The FTSE 100 index closed down 9.29 points, 0.1%, at 7,719.21. The FTSE 250 ended down 107.27 points, 0.6%, at 19,109.63, and the AIM All-Share closed down 3.28 points, 0.4%, at 753.05.

The Cboe UK 100 ended down 0.1% at 772.61, the Cboe UK 250 closed down 0.7% at 16,524.61, and the Cboe Small Companies ended down 0.2% at 14,488.85.

In European equities on Tuesday, the CAC 40 in Paris ended up 0.4%, while the DAX 40 in Frankfurt ended down 0.1%.

Bank of England governor Andrew Bailey at a Treasury Select Committee meeting said that the UK's recession is "very weak". Bailey said that compared to recessions dating back to the 1970s, the 0.5% cumulative reduction in gross domestic product in the third and fourth quarter was "the weakest by a long way".

Bailey also signalled that inflation does not need to reach 2% before the bank starts cutting interest rates.

"This gave some clarity on how the central bank might behave and gave a spark to bond markets, but it wasn't enough to put stocks and shares into overdrive," said AJ Bell's Russ Mould.

"Normally any encouraging comments about interest rates cuts would fire up equities. In this situation, Bailey was only setting the scene about how things might work in the future, rather than laying his cards on the table and revealing the precise moment when the Bank would start to cut."

The pound was quoted at USD1.2649 at the London equities close Tuesday, higher compared to USD1.2589 at the close on Monday.

The euro stood at USD1.0818 at the European equities close Tuesday, up against USD1.0764 at the same time on Monday. Against the yen, the dollar was trading at JPY149.84, down compared to JPY150.17 late Monday.

Barclays led the FTSE 100 charge on Tuesday, closing up 8.6%.

Barclays said its total income in 2023 rose 1.7% year-on-year to GBP25.38 billion from GBP24.96 billion, with growth in Barclays UK of 4.5% to GBP7.59 billion. However, pretax profit fell 6.5% to GBP6.56 billion from GBP7.01 billion, as its credit impairment charge widened to GBP1.88 billion from GBP1.22 billion. In the fourth quarter, total income fell 3.5% to GBP5.60 billion, while pretax profit plunged 92% to GBP110 million, after restructuring costs of GBP927 million.

For 2023, the total dividend rose to 8.0 pence from 7.25p the year before. The bank plans to begin another share buyback worth GBP1.0 billion, bringing total capital distributions for the year to GBP3.0 billion, which is up around 37% on 2022. It is also planning at least GBP10 billion in capital returns to shareholders between 2024 and 2025.

NatWest, Lloyds and HSBC were up 1.7%, 1.8% and 0.9% respectively, in a positive read across.

At the bottom of the index were miners Rio Tinto and Anglo American, down 3.7% and 3.3%, respectively.

In the FTSE 250, Mobico lost 9.6%.

The Birmingham-based public transport provider, formerly known as National Express, said it would delay the publication of its annual results, as the company warned that increased provisions needed to be made relating to its German rail business.

The annual results are now expected to be published before the end of March, with an exact date to be confirmed in due course. They were due for release on February 29.

Ferrexpo lost 6.3%, after it said it is withdrawing its interim dividend.

Ferrexpo is a Baar, Switzerland-based iron ore pellet producer in Ukraine, supplying the pellets to steel makers globally.

The company said it is not proceeding with the interim dividend of 3.3 US cents it had proposed in January due to a claim against one of its Ukrainian subsidiaries, Ferrexpo Poltava Mining.

Amongst London's small-caps, Superdry shot up 17%.

Shares in the Cheltenham, England-based clothes retailer jumped, after a report suggested that a US investment firm is in talks to buy the embattled retailer.

Sky News said Davidson Kempner, the New York-based investment management firm, is in discussions with co-founder and Chief Executive Julian Dunkerton about backing an offer for Superdry.

Earlier this month, Dunkerton confirmed that he is in discussions with potential financing partners.

On AIM, shares in Horizonte Minerals shares plummeted 59%.

This drop came after Horizonte's late-Monday announcement of a preliminary cost-to-complete estimate and schedule for its 100% owned Araguaia nickel project in northern Brazil.

The review indicated that the project would require an additional USD454 million in capital before delivery of first metal. This brings the estimate-at-completion figure to just over USD1.00 billion, around 87% higher than Horizonte's originally disclosed budget of USD537 million.

Stocks in New York were lower at the London equities close, with the DJIA down 0.1%, the S&P 500 index down 0.6%, and the Nasdaq Composite down 1.2%.

Brent oil was quoted at USD82.09 a barrel at the London equities close Tuesday, down from USD83.53 late Monday. Gold was quoted at USD2,027.87 an ounce at the London equities close Tuesday, up against USD2,013.67 at the close on Monday.

In Wednesday's UK corporate calendar, there are full year results from BAE Systems, Glencore, HSBC, and Rio Tinto.

The economic calendar for Wednesday has UK public sector net borrowing data at 0700 GMT.

There will also be eyes on speeches from some key central bank members. In the UK, Bank of England committee member Swati Dhingra will speak. In the US, Fed Governor Michelle Bowman will also do a talk.

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
26 Apr 2024 09:14

LONDON MARKET OPEN: Thoma Bravo snaps up Darktrace for USD5 billion

(Alliance News) - Stock prices in London opened higher on Friday, as investors shook off nerves ahead of US inflation data this afternoon.

Read more
26 Apr 2024 08:14

Anglo American Platinum appoints Naidoo as CFO

April 26 (Reuters) - Anglo American Platinum (Amplats) has appointed Sayurie Naidoo as chief financial officer with effect from May 1, the company announced on Friday.

Read more
26 Apr 2024 07:43

LONDON BRIEFING: Anglo American rejects BHP takeover offer

(Alliance News) - Stocks in London are called to open higher on Friday, ahead of key US inflation data

Read more
26 Apr 2024 07:37

TOP NEWS: Anglo American rejects "opportunistic" BHP takeover offer

(Alliance News) - Anglo American PLC on Friday said its board has "unanimously" rejected an "opportunistic" offer from larger peer BHP Group Ltd, on grounds that it "significantly undervalues" the London-based miner.

Read more
26 Apr 2024 07:04

Anglo-American rejects £31bn BHP offer

(Sharecast News) - Anglo American on Friday rejected an "opportunistic" £31bn bid from rival miner BHP, saying it significantly undervalued the company.

Read more
25 Apr 2024 20:04

Equities fall amid earnings gloom, as persistent inflation lifts Treasury yields

Interest rate markets digest slowdown in US GDP growth rate

*

Read more
25 Apr 2024 18:58

South Africa scrutinises BHP bid for Anglo weeks before election

April 25 (Reuters) - South Africa's government is scrutinising BHP Group's proposed deal to buy Anglo American, a spokesperson said, with the deal likely to concern officials the coming weeks before a general election where the governing party's majority is at risk.

Read more
25 Apr 2024 18:31

BHP bids $39 bln for Anglo American as miners chase copper

Anglo's shares up 16% after BHP confirms offer

*

Read more
25 Apr 2024 17:51

Anglo American share spike before bid raises questions about leaks

LONDON, April 25 (Reuters) - Anglo American's London-listed shares spiked in late UK trade on Wednesday, hours before the miner announced a $39 billion bid by rival BHP Group , raising questions from some lawyers, investors and commentators about possible leaks.

Read more
25 Apr 2024 17:06

European stocks retreat on earnings gloom, weak US economic data

Hermes quarterly sales jump 17% on strong China demand

*

Read more
25 Apr 2024 16:57

LONDON MARKET CLOSE: FTSE 100 shakes off red-hot US inflation gauge

(Alliance News) - London's FTSE 100 outperformed on Thursday, enjoying a solid rise on largely well-received corporate earnings and a share price jump for miner Anglo American after it received a takeover bid from peer BHP.

Read more
25 Apr 2024 16:44

Mexican peso leads Latam FX down as US inflation data bolsters Fed rate worries

*
US economic growth slows in first quarter; inflation surges

Read more
25 Apr 2024 16:35

Tepid economic data weighs on equities; yen sinks to fresh lows

Interest rate markets digest slowdown in US GDP growth rate

*

Read more
25 Apr 2024 16:13

Brazil's Vale sees no impact from BHP-Anglo American deal on Minas-Rio project

April 25 (Reuters) - Brazilian miner Vale SA sees no impact from BHP Group's bid for Anglo American on the latter's Minas-Rio project, its CEO, Eduardo Bartolomeu, said on Thursday.

Read more
25 Apr 2024 15:14

London close: Stocks finish mixed as US GDP growth slows

(Sharecast News) - London's stock markets finished with a mixed performance on Thursday, as investors digested a slower-than-expected GDP growth reading from the United States, while a slew of well-received earnings underpinned the top-flight index.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account