FTSE falls - Anglo American Rises on Increased Profits

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FTSE falls - Anglo American Rises on Increased Profits

Shares were lower in early deals,- as people wait for US jobs data due later today.

At 10:30am, the FTSE100 was down 22 points at 6,279. volume was thin.

July US non farm payrolls expected to show 135,000 new jobs vs 132,000 in June. Jobless rate forecast to remain at 4.5% for fourth month, near 6-year low.

US stocks were mostly higher on good readings on corporate earnings and the job market, but remained nervous as credit market may impede US growth.

Dow rose 22.52 to 13,384.89, S&P500 fell 3.82 to 1,461.99, and Nasdaq Composite rose 8.33 to 2,562.20.

Crude futures up 33 cents to $76.86 a barrel.

Anglo American (AAL)

Anglo American rose 69p to 2,836p after rise in first half operating profit, it announced further $4bn in share buybacks on the back of continued strong cash flow.

It also announced its decision to sell Tarmac due to its ongoing restructuring programme.

UBS said the numbers beat its forecasts and reiterated its 'buy' rating and 3800p target. It also said the Tarmac sale was the right one as the division does not belong in a mining group.

3 month candlestick chart



The chart certainly looks interesting as we might expect a bounce fromthe 200 day moving average, but it might be worth hanging on to see what the non-farm payrolls do.

UMECO (UMC)

Yesterday's strange 15% rise late in the day for Umeco has not been explained, and it has fallen back 8% this morning, so watch this space is all we can say.

Please feel free to leave any comments or suggestions. Have a nice day !

ftse dow
anglo american
umeco
non farm payrolls
tarmac

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