Anglo's copper-coloured sheen for the UK market

ANGLO'S COPPER-COLOURED SHEEN FOR THE UK MARKET

BHP Group's BHP bid for rival Anglo American AAL is giving the FTSE 100 UK100 a handsome boost today. The deal would create the world's largest listed copper miner and the largest producer of copper globally.

In fact, the deal has put the FTSE 100 on track for a 1.8% rise this month, making it the best performing large index in Europe, a rare feat for a market that has been a chronic laggard. The FTSE has risen by 6.1% in the last two months, set for its largest two-month gain since November 2022.

Anglo is clearly the biggest winner in April so far, up 28% thanks to today's 14% surge, and smaller copper miner Antofagasta ANTO is also up 9% in April.

Copper itself HG1! is trading near its highest in two years, just shy of $9,900 a tonne. The performance of the price is seen by many market-watchers as a gauge of the health of the underlying economy, given the widespread use of copper in everything from electronics to construction. With this latest surge in the Anglo share price, the FTSE's copper weighting just got larger.