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

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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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