By Stuart Lowman
The Anglo American story was a trader’s delight. Having slumped to a record low in London in 2016, the group promised to offload everything except its highest quality diamond, platinum and copper assets.
Fast forward a year later; the commodity rebound and drastic cost cutting measure to the strengthen the balance sheet from CEO Mark Cutifani, put a 180 to those plans. Holding onto its assets the stock was the number one performer on the London Stock Exchange in 2016.
2017 has, however, not been as favourable with the stock flat-lining to the downside on both Johannesburg and London exchanges.
This morning’s first quarter update did, however, see both listings slightly higher as iron ore and diamond output rose, while copper was a laggard.
