Anglo American defies 'value that lasts' motto in drift to foot of FTSE 100

Discussion in 'Market News' started by Lily, Dec 8, 2015.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Shares in mining company now cheaper than when it arrived on market in 1999 – while Tesco is another company down on its luck

    “We create value that lasts,” proclaims Anglo American’s website. Try telling that to the shareholders.

    The shares, down 12% on Tuesday, have fallen 90% since high points in 2008 and 2011 and are now cheaper than when the 98-year-old mining company arrived on the London stock market in 1999. By market capitalisation, Anglo – extraordinarily – has drifted to the bottom end of the FTSE 100 index. The equity is worth just £4.6bn. Even Mondi, the obscure packaging and paper outfit that Anglo demerged in 2007, is more valuable these days.

    Related: Anglo American to slash workforce by 85,000 amid commodity slump

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