Anglo American Shares Drop After $3.9 Billion Coal Exit Deal Puts Teck Merger in Focus
Anglo American shares slipped on Tuesday, underperforming a stronger London market, as investors weighed a $3.875 billion deal to exit Australian steelmaking coal against weaker metals prices and a fresh permit uncertainty in Chile. The stock was down 1.3% at 3,733 pence by 11:01 a.m. in London, while its 52-week high stood at 4,118.50 pence. Google Finance data showed the shares opened at 3,695 pence and traded between 3,678 pence and 3,771 pence in the session.