From outcast to darling; but is Anglo American rebound flatlining?

Iron ore and diamond output have been on the rise for Anglo American but the stock has been flatlining in Johannesburg and London.

Published on:

24 Apr 2017, 11:12 am

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.

File Photo: Visitors pass a sign at the entrance to the offices of Anglo American Plc in the Marshalltown district of Johannesburg, South Africa. Photographer: Chris Ratcliffe/Bloomberg

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.

London Stock Exchange