Punters Dig Into Anglo Amid Talk of [Pounds]58bn Bid

Summary

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CITY speculators are looking for another round of consolidation among the miners, despite claims from a leading City player that the sector may have reached the top of the cycle.

Weekend reports claimed Brazilian mining giant Vale was poised to make an offer of at least 4000p a share for Anglo American, valuing the business at [pounds]58 billion. Anglo shares responded with a surge of 109p to 3298p.

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Extract

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Punters Dig Into Anglo Amid Talk of [Pounds]58bn Bid

But HSBC casts doubt on whether this might be money well spent. It says that, following a "perfect storm" to start off the year, the commodities rally is facing...

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