Teck Resources Ltd-Cls B

Anglo American shares recovered early losses as JPMorgan flagged a $95 million freight cost risk for Q2, highlighting potential headwinds from rising shipping rates.

Anglo American CEO Duncan Wanblad sold 24,074 shares at £36.384 each to cover tax obligations following the vesting of incentive awards. The company's 2023 long-term incentive plan paid out at 21.2% of the maximum potential award.

Anglo American closed 2.2% higher on the JSE despite reporting a substantial annual loss, largely due to a significant impairment at its De Beers diamond unit. The company reduced its dividend and noted that only two regulatory approvals remain for its planned merger with Teck Resources.