Anglo American to break itself up
Anglo American announced on Tuesday that it was accelerating the delivery of its strategy. Platinum activity will be demerged; De Beers is to be divested or demerged.
The UK unemployment rate
The UK unemployment rate rose to 4.3% in March, after 4.2% the previous month, suggesting slack is building in the labour market.
Germany's ZEW Economic Sentiment
Later on Tuesday, Germany's ZEW Economic Sentiment is forecast to rise for a tenth straight month to 46.1 in May, indicating that Germany's economy is progressing steadily towards recovery. Over in the US, US PPI data is due out at 1.30 p.m. The headline PPI figure is forecast to edge up to 2.2% from 2.1%, with the monthly rate at 0.3%.
Anglo American
Anglo American announced on Tuesday that it was accelerating the delivery of its strategy. Platinum activity will be demerged; De Beers is to be divested or demerged; it also explores options for its nickel activities and says its steelmaking coal interests potential buyers. Anglo American has rejected a takeover offer from BHP Group, saying it fails to recognise its inherent value. The £34 billion offer made on May 7 was 10% higher than the first. BHP has, for its part, expressed its disappointment and "continues to believe that a combination of the two businesses would deliver significant value for all shareholders."
Vodafone
Vodafone's full-year revenue fell far more than anticipated, reaching €36.7 billion. It was expected to decline to €43.47 billion. EBITDA also missed forecast, coming in at €11 billion; it was expected to slow to €12.81 billion.
Bayer
Bayer posted an adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of €4.41 billion, beating estimates of €4.15 billion. Group sales, however, missed the forecast. They reached €13.76 billion in the period. Bayer confirms its outlook.
Home Depot
Home Depot is set to release financial results for its first quarter before the opening bell this afternoon. Analysts expect the company to report quarterly earnings of $3.60 per share. That's up from $3.40 per share in the year-ago period, and it is projected to post quarterly revenue of $36.67 billion. The company met analysts' revenue expectations last quarter, reporting revenues of $34.79 billion, down 2.9% year on year.
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