The London listed multinational mining company saw its share price jump 12% in early trade on Thursday after rival BHP tabled a bid for the company. The deal puts a price tag on Anglo American of £31.1bn and once again highlights the challenges faced by those companies traded in London when it comes to realising their full value. The combined entity would remain listed in London, Sydney, New York and Johannesburg with BHPs’ note adding that incoming shareholders would also benefit from monthly share trading liquidity of approximately $10 billion.
High street lender Barclays published a Q1 trading update this morning and unlike its peer Lloyds, the impact of reduced interest margins appeared significantly less pronounced at just four basis points at a group-wide level. Whilst profits were down, they still beat expectations and that has been sufficient to drive early gains in the stock which is trading more than 4% higher less than an hour into the day.
The global car distributor issued Q1 numbers this morning which showed a good start to the year, noting market outperformance and group revenues of £2.3bn. Whilst that’s down from the £2.7bn reported a year ago, the UK business has been stripped out of the latest figures as this asset is being disposed of. The outlook has been reiterated and expectations are for growth rates to improve over the medium term. In early trade, the stock was leading the FTSE-250, up by around 5%.
Headlines we expect on Friday
Loungers Full Year Trading Update
This time last year revenue £283.5m, total sites 222, up by 29 YoY
Record Q4 & FY Trading Update
This time last year FY’23 AUME $87.7bn, Net inflows $9.1bn
