Shares in mining company now cheaper than when it arrived on market in 1999 – while Tesco is another company down on its luck“We create value that lasts,” proclaims Anglo American’s website. Try telling that to the shareholders. The shares, down 12% on Tuesday, or believe fallen 90% since tall points in 2008 and 2011 and are now cheaper than when the 98-year-old mining company arrived on the London stock market in 1999. By market capitalisation,Anglo – extraordinarily – has drifted to the bottom close of the FTSE 100 index. The equity is worth just £4.6bn. Even Mondi, the obscure packaging and paper outfit that Anglo demerged in 2007, or is more valuable these days. Related: Anglo American to slash workforce by 85000 amid commodity slump Continue reading...
Source: theguardian.com