London, Jan 10, 2026, 08:24 GMT — Market closed
- Shares rose 2.7% on Friday, closing at 3,216 pence
- A European filing pointed to smoother EU competition review for the Teck tie-up
- Traders are watching early-February regulatory and company update dates next
Anglo American plc shares ended Friday up 2.7% at 3,216 pence, a whisker below the week’s 52-week high, after signs that its planned merger with Canada’s Teck Resources is moving through Europe with fewer obvious hurdles.
The shift matters because the Teck deal has been the main driver of the stock since it was announced, and regulators have been the long pole in the tent. A European Commission filing showed the deal is under a simplified review — a faster track used when the watchdog does not flag major competition issues at the outset — with an antitrust decision due by Feb. 10 and a separate EU foreign-subsidies review deadline set for Feb. 3.
Mining shares have also found a tailwind from a burst of consolidation talk and a copper market running hot. Copper hit record levels this week on supply-shortage worries, and Berenberg analyst Richard Hatch said the push for copper is partly because “the market (rightly or wrongly) views iron ore” as facing price declines. Reuters
The broader mood has turned less defensive after U.S. data pointed to slower job growth, even as falling unemployment kept the Federal Reserve on a cautious footing. “A likely ‘hot’ inflation print next week suggests no action before March,” James Knightley, chief international economist at ING, said. Reuters
On the chart, Anglo American is sitting above key trend lines that short-term traders watch. The 50-day moving average sits around 3,159 pence and the 200-day around 2,996 pence, Investing.com data showed late Friday.
For investors, the near-term question is whether deal optimism can hold once the headlines fade and attention swings back to operations. Anglo has leaned hard into copper as a growth story, but the stock still tracks the usual mix of metal prices, China demand signals and any wobble in risk appetite.
But there is still room for disappointment. Regulators can stretch reviews, ask for fixes, or pile on conditions, and copper’s run can reverse quickly if the supply picture shifts or the macro data turn ugly.
Next up, Anglo American is due to publish its Q4 2025 production report at 07:00 GMT on Feb. 5, followed by full-year results on Feb. 20 — the next scheduled checkpoints for investors looking beyond the deal tape.
