London, Feb 1, 2026, 08:41 GMT — Market closed.
- Anglo American shares fell 2.6% on Friday to 3,408 pence, lagging a higher FTSE 100.
- The European Commission cleared Anglo American’s planned acquisition of Teck Resources on Friday.
- Traders now look to the Feb. 5 production report for fresh direction ahead of full-year results later in February.
Anglo American shares ended lower on Friday, giving back ground a day after touching a fresh 52-week high, as month-end flows and a sharp pullback in metals prices hit the mining sector. The stock closed down 2.63% at 3,408 pence, even as the FTSE 100 rose 0.51%. MarketWatch
The timing matters. Metals markets snapped from record highs into a fast selloff on Friday after U.S. President Donald Trump said he had picked former Federal Reserve governor Kevin Warsh to lead the Fed, helping the dollar steady and pushing investors to lock in gains. “Precious metals have discovered gravity,” independent analyst Ross Norman said. Reuters
Copper, a core earnings driver for Anglo American, was also caught in the reversal. London Metal Exchange three-month copper was down 1.1% at $13,465 a metric ton at 12:01 GMT on Friday, after hitting a record high this week, Reuters data showed. Reuters
Separately, the European Commission said on Friday it approved Anglo American’s acquisition of sole control of Canada’s Teck Resources under the EU Merger Regulation. European Commission
For Anglo American investors, the Teck tie-up remains the big strategic lever. The group has pitched the deal as a way to build a copper-heavy portfolio and create “Anglo Teck,” a top-five global copper producer, while keeping London as the primary listing. Anglo American
But the green light in Brussels does not end the process. Anglo American has said completion is still subject to further regulatory approvals in other jurisdictions. Anglo American
The stock’s immediate read-through is simpler: metals are doing the driving, and they turned sharply on Friday. “Generalist investors who have different agendas – like protecting capital – are taking profits,” Panmure Liberum analyst Tom Price said. Reuters
Next up is a hard catalyst. Anglo American is scheduled to publish its Q4 2025 production report at 07:00 GMT on Feb. 5, a release that can reset expectations on volumes and costs across copper and iron ore. Anglo American
Later in the month, the company is due to report 2025 results and host a presentation on Feb. 20 at 09:00 GMT, according to its investor calendar. Anglo American
Into Monday’s session, traders will be watching whether the latest unwind in copper and precious metals extends, and whether Teck-deal headlines stay quiet after the EU decision. The next concrete read on Anglo American’s momentum is Feb. 5. Anglo American
