Anglo American inches up as De Beers agreement looms, market eyes copper

London, June 16, 2026, 12:04 (BST).

Anglo American edged up again Tuesday. The stock had jumped more sharply Monday.
De Beers CEO Al Cook said he’s aiming to sell the diamond business “in weeks rather than months.”
Anglo American has its Q2 2026 production report set for July 23. Investors also look for news on De Beers and the Teck deal.

Anglo American plc was up 2p at 4,090p at 11:49 BST Tuesday, LSEG data showed, keeping close to highs seen lately. Investors are waiting for updates on De Beers and any moves around copper. Shares gained 2.15% to £40.88 on Monday, ahead of the FTSE 100. Investors Chronicle

Anglo shares aren’t moving much after its earnings topped forecasts. Focus is on the group’s efforts to shed assets. De Beers boss Al Cook told Reuters in London that talks to sell the diamond arm are “now maturing.” “I’m hopeful that it’ll happen in weeks rather than months going forward,” Cook said. De Beers has pulled down Anglo’s valuation this diamond cycle. Investors have shifted to miners with more copper. Copper demand comes from power grids, EVs and data centers. Reuters

Anglo is pushing ahead with its planned merger with Teck Resources. The companies reached a deal last year to launch Anglo Teck, a new Canada-based firm. The combined business will be among the world’s five biggest copper producers, giving investors over 70% copper exposure. Anglo shareholders are expected to hold around 62.4% of the merged entity, while Teck shareholders will get 37.6%. Anglo has a $4.5 billion special dividend lined up, to be paid before the merger closes. Anglo American

Bulls are sticking to the basics: if De Beers fetches a decent price and the Teck transaction closes, Anglo could end up focused on copper and premium iron ore. Copper supply is still seen as tight longer term. Anglo’s April production update helped the case—a 1% lift in first-quarter copper output to 170,400 tonnes. For 2026, guidance on production and unit costs in core units stayed the same. CEO Duncan Wanblad called it a “strong start to the year” for copper and premium iron. Anglo American

Some bearish investors say recent gains are already baked in. Data from Investors Chronicle showed the stock gained 92.11% in the past year. Hargreaves Lansdown put market cap close to £43.92 billion, with the stock trading at a P/E of 68.55. That ratio, comparing share price with annual EPS, could suggest investors see big potential or the shares are pricey now. Anglo still faces jobs ahead: selling De Beers, wrapping up the Teck merger, and copper pricing will affect the shares. Investors Chronicle

Anglo American stock has rebounded and trades close to fair value, so the numbers don’t look cheap. Investors who want copper and are fine with deal risk could still find a case, but the recent rally leaves less room for error. The Q2 2026 production update is due July 23 at 06:00 GMT. A De Beers sale update might hit before that and could shift the shares. Anglo American

UK Watchdog Approves Merger of Major Northern Ireland Bakeries ABF and Hovis
June 16, 2026, 7:31 AM EDT. The UK's Competition and Markets Authority (CMA) has approved the merger of Associated British Foods (ABF) and Hovis, two leading bakeries in Northern Ireland. The combined entity will control about 80% of the pancake market and 60% of soda farls in the region, creating a near-monopoly in some traditional products. Despite initial concerns, the CMA determined the merger does not reduce competition because ABF's Belfast facility is heavily loss-making and likely to close without the deal. No alternative buyers emerged to sustain competition. Cyrus Mehta, CMA inquiry chair, emphasized the importance of assessing the impact on households and noted that ABF would probably exit the market otherwise, justifying approval.