UK 17:56 Friday, 30 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
It is a big week for the FTSE-100’s large cap miners. With the Bloomberg Commodity Index yesterday falling to its lowest level since June 1999 sentiment is – to choose a suitable mining metaphor – crushed. Glencore (GLEN) hosts an investor update on Thursday, Rio Tinto (RIO) has announced new capex cuts ahead of an update from its important aluminium division later today whilst Anglo American (AAL) has updated the stock market this morning.
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Comments
Phil
I see the markets punished the RIO share price today because RIO did the right thing
alcira16247
Chris
With a projected negative cash flow and need to raise a further $1.6 billion this year in more debt, despite severe cost cutting, asset disposals and dividend finished, the market is punishing AAL hard.
It now appears likely that a heavily discounted, massively dilutive rights issue is on its way.
At least that’s how I’m reading todays market reaction and shocking fall in AAL’s share price.
Chris Bailey
@Phil – thanks for the comment and yes, that’s mining sector sentiment at the moment. Either everyone hates them all, or loves them all. What is interesting (and maybe indicative of a bottom) is how we swing from a day like Tuesday to a day like Wednesday. Watching Anglo’s on Wednesday was very, very interesting. Still wouldn’t buy the stock as noted above but I would add/have some exposure to better financed names in the sector.
@alcira16247 – thanks for the comment. Yes, I would agree and – as I noted – it was the focus of the conference call.