0955 GMT - Investors have rewarded Anglo American after warming to its copper-focused combination with Teck Resources, Hargreaves Lansdown's Derren Nathan writes. This has left Anglo's valuation looking fuller than it has for some time, he adds. On the other hand, BHP, which first approached London-listed Anglo American about a possible takeover in April last year, has seen its share price drift lower in line with iron-ore prices, Nathan says. BHP has some attractive organic growth opportunities but the fast-moving macroeconomic environment carries significant short-term risks, he adds. Anglo American shares trade flat at 2,711 pence and are up 23% over the past 3 months. BHP's London shares trade flat at 2,016 pence and are down nearly 2% over the past three months.(adam.whittaker@wsj.com)

(END) Dow Jones Newswires

November 24, 2025 04:55 ET (09:55 GMT)

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