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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Anglo American    AAL   GB00B1XZS820

ANGLO AMERICAN (AAL)
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UK stocks lifted to record highs by commodities, IWG takeover approach

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12/27/2017 | 05:59pm CEST
A sign displays the crest and name of the London Stock Exchange in London

PARIS (Reuters) - British stocks hit fresh record highs on Wednesday after a two-day holiday break, boosted by a rally in commodity stocks and a 28 percent jump for IWG (>> IWG - International Workplace Group) after the serviced office provider confirmed a takeover approach.

PARIS (Reuters) - British stocks hit fresh record highs on Wednesday after a two-day holiday break, boosted by a rally in commodity stocks and a 28 percent jump for IWG (>> IWG - International Workplace Group) after the serviced office provider confirmed a takeover approach.

Investors cheered the news that IWG had received an all-cash approach from Canadian private equity firm Onex (>> ONEX Corporation) and Brookfield Asset Management (>> Brookfield Asset Management Inc).

The approach marks the latest venture by a foreign acquirer into British mid-caps, with deal prices having dropped because of the pound's depreciation.

A profit warning that prompted a 7 percent share price tumble in October made IWG all the more attractively priced for a potential suitor. The stock was down 18 percent for the year at Friday's close.

Britain's FTSE 100 <.FTSE> hit its highest level ever at 7,632.71 points, slightly topping the previous record high hit last week, before paring some gains and ending up 0.37 percent.

The mid cap index <.FTMC> also surged to a new record high, boosted by IWG's rally. It rose 0.78 percent.

Miners Glencore (>> Glencore), Rio Tinto (>> Rio Tinto) and BHP Billiton (>> BHP Billiton Plc) delivered the biggest boost to the blue-chip index, rising by 1.4 to 2.1 percent as metals prices hovered near the 3-1/2 year highs they hit on a strong Chinese growth outlook.

Mid-cap miners Acacia Mining (>> Acacia Mining PLC) and Hochschild (>> Hochschild Mining Plc) also made strong gains.

Gold producers Fresnillo (>> Fresnillo) and Randgold Resources (>> Randgold Resources) were among the top FTSE gainers, lifted by a rise in gold prices as the dollar softened.

Liquidity remained thin as holidays kept investors away from trading desks.

Tullow Oil (>> Tullow Oil) gained 2.4 percent as oil prices stayed high, fresh from a rally that sent U.S. West Texas Intermediate crude above $60 for the first time since mid-2015.

Royal Dutch Shell <RDSa.L> gained 0.4 percent, boosted by the higher crude prices and the oil major's assertion that the recently enacted U.S. tax reform would have a favourable impact on operations.

Shell became the latest in a string of European companies to forecast a beneficial impact from the U.S. tax overhaul, which includes a cut to the corporate tax rate to 21 percent from 35 percent.

Barclays (>> Barclays) shares rose 0.3 percent despite the bank saying it expects to take a writedown of about 1 billion pounds ($1.34 billion) on its annual post-tax profit as a result of the tax reform.

(Reporting by Helen Reid; additional reporting by Danilo Masoni; Editing by Andrew Bolton)

By Helen Reid

Stocks mentioned in the article
ChangeLast1st jan.
ACACIA MINING 1.56% 117 Delayed Quote.-41.06%
ANGLO AMERICAN 1.49% 1691 Delayed Quote.9.13%
BARCLAYS 0.29% 188.9 Delayed Quote.-6.99%
BHP BILLITON LIMITED 3.29% 33.57 End-of-day quote.9.91%
BHP BILLITON PLC 2.75% 1668.6 Delayed Quote.9.60%
BP 0.36% 562.2 Delayed Quote.7.56%
BROOKFIELD ASSET MANAGEMENT 0.00% 55.39 Delayed Quote.1.22%
FRESNILLO 0.40% 1122 Delayed Quote.-21.48%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.-5.90%
GLENCORE 1.72% 318.5 Delayed Quote.-18.33%
HOCHSCHILD MINING PLC 1.40% 180.9 Delayed Quote.-31.48%
IWG - INTERNATIONAL WORKPLACE GROUP 0.44% 296.7 Delayed Quote.15.27%
ONEX CORPORATION 0.42% 98.89 Delayed Quote.6.55%
RANDGOLD RESOURCES 1.02% 5554 Delayed Quote.-25.05%
RIO TINTO 1.17% 4120 Delayed Quote.4.52%
RIO TINTO LIMITED 0.44% 79.51 End-of-day quote.4.42%
TULLOW OIL 0.00% 219 Delayed Quote.6.00%
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Financials ($)
Sales 2018 27 086 M
EBIT 2018 5 886 M
Net income 2018 3 316 M
Debt 2018 2 709 M
Yield 2018 4,94%
P/E ratio 2018 8,78
P/E ratio 2019 9,91
EV / Sales 2018 1,24x
EV / Sales 2019 1,22x
Capitalization 30 973 M
Chart ANGLO AMERICAN
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Anglo American Technical Analysis Chart | AAL | GB00B1XZS820 | 4-Traders
Technical analysis trends ANGLO AMERICAN
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 25,6 $
Spread / Average Target 17%
EPS Revisions
Managers
NameTitle
Mark Cutifani Chief Executive Officer & Executive Director
Stuart John Chambers Chairman
Stephen Thomas Pearce Finance Director & Non-Executive Director
Anthony Martin O'Neill Technical Director & Director
Philip Roy Hampton Senior Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ANGLO AMERICAN9.13%30 973
BHP BILLITON PLC6.67%122 817
BHP BILLITON LIMITED9.91%122 817
RIO TINTO3.31%94 962
RIO TINTO LIMITED4.42%94 962
FREEPORT-MCMORAN-11.55%24 295