LONDON, June 22, 2026, 11:01 BST
- LSE: AAL last traded at 3,898p (£38.98), adding 8p, or 0.21%. The FTSE 100 was off about 0.1%.
- Copper added 0.56% to $6.36 a pound, giving the biggest boost with no new Anglo American update out.
- The rebound clawed back just 3.31% of what was lost in last week’s two sessions. Traders now look to a potential De Beers sale and the July production report for the next moves.
Anglo American plc (LSE: AAL) was up 8 pence, or 0.21%, to 3,898 pence (£38.98) as of 11:01 BST Monday, pulling off a small bounce after a tough end to last week. The stock got a push from copper, which rose 0.56%, while the FTSE 100 slipped about 0.1%. There were no new statements from the company’s official channels on Monday. The rebound looked tied to metals, not any fresh news from Anglo. The move brought back just 3.31% of the 242 pence lost Thursday and Friday, meaning nearly 97% of that drop remained.
Anglo started the day at 3,917p, quickly moved to 3,938.22p, then pulled back to a session low of 3,882p before hovering near 3,900p. Volume came in heavy—7.73 million shares changed hands on Friday, more than triple what moved on Wednesday. That made the recent drop look firmer than Monday’s brief rally.
London stocks lost ground. The FTSE 100 moved down after Prime Minister Keir Starmer said he would step down, and the FTSE 250, focused more on the UK market, dropped 0.7%. Anglo has more exposure abroad, so it isn’t as sensitive to shifts in UK demand or budgets, but traders cut risk in the face of political nerves.
Copper climbed to $6.36 per pound. Sector shares showed little conviction: Glencore up 0.61%, Rio Tinto up 0.28%, while Antofagasta dipped 0.03%, per the same Google Finance snapshot. Anglo moved 0.21% higher, putting it in the middle. Copper names inched around, no strong rally.
The market’s implied recovery stands out. With Google Finance putting shares outstanding at 1.18 billion, a gain of 8p on Monday put back about £94 million in market value. Shares fell from 4,132p Wednesday to 3,890p Friday, wiping out nearly £2.86 billion in equity. The same constant-share count gets to a 3.3% retracement, which describes the swing more directly than showing the green percent.
The basic copper story hasn’t shifted. Anglo American’s first-quarter copper output came in at 170,400 tonnes, a rise of 1%. The company left its 2026 forecast steady at 700,000–760,000 tonnes. CEO Duncan Wanblad called it “a strong start to the year across both Copper and Premium Iron Ore.” More copper from Los Bronces and Collahuasi helped make up for the expected weaker grades at Quellaveco. Anglo American
De Beers is still the focus as a potential near-term mover. De Beers CEO Al Cook said on June 16 he hopes a deal will happen “weeks rather than months,” and said, “We’ve never been closer than we are to a sale.” Reuters reported two consortia are still in the running for stakes in the diamond company. A signed deal could clear up some unknowns about Anglo’s 85% holding, but there’s no final word on price, structure or value yet. Reuters
The Teck Resources merger is the main strategic focus. Anglo said in April that with South Korea’s approval in, Chinese antitrust sign-off is the last big regulatory step. The company is expecting to wrap up the deal between September 2026 and March 2027. The shares now move on two tracks: the daily swings in copper and the longer bet on the Anglo Teck deal closing.
Momentum traders are watching 3,938.22p as the first spot to take back. Resistance is heavier at 3,995p, which was Thursday’s close. Closing above there covers Friday’s loss and hints the selloff is cooling; still, the shares trade almost 8% below the June 2 high of 4,239p.
The bear view looks clear: dropping below Friday’s 3,865p low would undo Monday’s bounce and bring the 3,804p June 11 close back into play. More copper weakness, a stronger dollar, or setbacks in the De Beers and Teck deals would pile on the pressure. Collahuasi’s environmental signoff is still under review after a Chilean court decision, but Anglo said it sees no immediate hit to production given current details. The bearish chart loses steam above 3,995p.
Anglo has its next scheduled update with the July 23 Q2 production report, and then half-year results on July 30. China’s Teck decision is a bigger long-term milestone, but if a De Beers deal is signed before then, it could turn Monday’s commodity rally into a move specific to Anglo’s shares.
