1032 GMT - Anglo American's hopes of finding a buyer for its De Beers diamond unit in the near term are slim, AJ Bell investment director Russ Mould writes. This is because the outlook for De Beers is so bleak as lab-grown diamonds have flooded the market, he writes. Despite the $2.9 billion write down, investors have focused on the rapid progress the London-listed miner has made since rebuffing a bid from BHP last year, Mould writes. Investors like the streamlined business but it could make it more vulnerable to further bid interest, he adds. Shares trade up 3% at 2,442.00 pence and are up 38% over the past year.(adam.whittaker@wsj.com)
(END) Dow Jones Newswires
February 20, 2025 05:32 ET (10:32 GMT)
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