Anglo Above 10 Pounds as Century-Old Miner Back From Brink
- Commodities push stock above level for first time in 15 months
- Miner has been selling assets and cutting costs to reduce debt
Workers look on as belts carry and stock pile iron ore at a yard of Ferroport handling company as the Acu super port prepares to load its second bulk carrier in Sao Joao da Barra, Rio de Janeiro state, Brazil.
Photographer: Dado Galdieri/BloombergThis article is for subscribers only.
A rally in Anglo American Plc pushed its stock above 10 pounds for the first time in more than a year after a rebound in commodity prices and cuts in its debt brought the century-old mining company back from the brink.
Anglo gained as much as 3.4 percent to 1,029 pence a share, the highest since June 2015. The stock has more than tripled this year, the best performer in the U.K.’s benchmark FTSE 100 Index.