Anglo American

Ticker AAL

Today's data summary

Market closed
% change
+0.37%
Price Pence
2169.50
Change
+8.00
As of 19:54 19 Apr 2019
Market cap. Pound sterling
30,483.02 million
As of 19:54 19 Apr 2019

Latest updates

Anglo profits

Workers check a truck at Anglo American's Kolomela mine in South Africa
ANGLO AMERICAN

Profits at Anglo American have risen although the FTSE 100 mining company is cutting its dividend per share by 2% to $1.

Underling core earnings were up 4% at $9.2bn while profits attributable to shareholders have risen 12% to $3.5bn for 2018.

Mark Cutifani, chief executive, said: "This strong financial result derives from our continued productivity improvements in the underlying operations and better than expected prices for many of our products.

"No degree of financial performance is worth a life, however, and in 2018, five of our colleagues tragically died in workplace safety incidents. The safety of our people is always front of mind and our determination to reach and sustain zero harm is our most pressing challenge."

Good morning!

Welcome to Business Live.

Patisserie Valerie remains in focus today as more than 2,000 staff wait to hear whether they will keep their jobs. KPMG is currently searching for a buyer for around 130 of the cafe chains outlets after the company called in administrators.

The World Economic Forum continues and today's big names to appear at Davos include Chancellor Philip Hammond, US Treasury Secretary Steve Mnuchin and French Economic Minister Bruno le Maire.

Daily Mail & General Trust is among the companies reporting results this morning, as are mining giant Anglo American and posh tonic water maker Fevertree.

As always, we'd love to hear from you. Contact Business Live at bizlivepage@bbc.co.uk

FTSE slips on weak Chinese data

Trader
Getty Images

The London market is back at 7,000 after China's manufacturing sector reported its weakest growth in two years on Friday morning.

As world leaders gather in Argentina for the G20 summit, the FTSE 100 slipped 0.8% as shares in miners such as Rio Tinto, Anglo American and Antofagasta slumped.

Connor Campbell of Spreadex says a slowdown in China’s manufacturing sector is not that surprising given the country’s trade war with the US.

"That puts even more pressure on President Xi Jinping to try and move in the right direction with [Donald] Trump in Buenos Aires, something that seems like a huge ask given the latter’s bellicose rhetoric this week."

Eurozone indices have moved in the same direction, with Germany's DAX and the French CAC both down 0.6%.

Miners send FTSE 100 lower

Anglo American mining site
Anglo American

The FTSE 100 index is now down 0.78% at 7,084.73 with mining stocks the biggest fallers on the blue chip index.

Anglo American is showing the biggest drop, down 4.6% at £16.69, followed by Glencore whose share price is down 4% at 305.15p.

Exhibitions and publishing group Informa is still the leading riser on Friday, up 2.6% at 710.2p after revealing strong revenue growth over the year to date.

The FTSE 250 is down 0.69% at 19,124.37. After strong gains on Thursday, Hikma Pharmaceuticals is the largest faller on the index, down 6.1% at £19,00.

FTSE 100 drops on commodity price falls

The FTSE 100, the blue chip stock index, has reversed earlier gains and is now trading down 0.77% at 7,553.35.

Connor Campbell, financial analyst at Spreadex, says: "The FTSE was crushed under the weight of its sizeable commodity stocks on Wednesday, plunging towards 7,550 as chaos spread throughout the sector.

Trucks loading copper ore
Getty Images

"With Brent Crude falling under $72 per barrel after slipping 1%, gold sliding to $1,192 an ounce and copper sinking around 2.5% to hit a fresh 13 month low, the FTSE’s oil and mining firms were not in a good way.

"BP and Shell both slipped 0.7%, the likes of Rio Tinto, Anglo American and Antofagasta were down anywhere between 2.5% and 4%, and Fresnillo shed 5.5%.

"All this led to the UK index itself dropping 70 points, testing intraday lows last seen at the start of the month."

Anglo American: Profits up, debt down

Anglo American mine
Anglo American

Mining giant, Anglo American has reported 2% increase in underlying earnings to $1.57bn, for the six months ending 30 June.

The company reduced its net debt to $4bn - an 11% reduction since the end of 2017.

Coal production was up 17%, copper was up 10% and De Beers' rough diamond production rose 8%.

Good morning!

Welcome to Business Live and a veritable avalanche of company results.

In the UK, Sky will reveal its financials this morning while later on, its would-be acquirer, US cable giant Comcast, will announce its second quarter results.

Drinks giant Diageo, oil specialist Shell and miner Anglo American will also provide updates.

Over in the US, watch out for Amazon, Intel, Starbucks and McDonald's when they announce their results later.

As always, we'd love to hear from you. Email us at bizlivepage@bbc.co.uk

Markets down as miners struggle

FTSE graph
BBC

The FTSE 100 has been on a steadily downward dive since opening this morning. It's now down 93 points, or 1.22% at 7,588.

The biggest loser in the blue-chip index is Micro Focus, which has slumped almost 5%, or 67p, to 1,297.

The miners are also struggling with Anglo American down 3%, Glencore 2.,65%, and Antofagasta losing 2.53%.

FTSE 100 closes higher

A trader
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London's blue chip index has closed higher after ONS data showed a surprise fall in inflation in March.

The FTSE 100 gained 91.29 points, or 1.26%, to 7,317.34.

Mediclinic International was the best performer, rising 9.15% after it published strong annual results.

Commodities firms also gained as fears over US-Russia tensions pushed metal prices to levels not seen since December 2014.

Russia is a major producer of nickel and aluminium and some believe US sanctions could hit global supply.

Glencore was up 7.65%, Anglo American gained 6.15% and BHP Billiton was 5.5% higher.