Xstrata chief executive Mick Davis has sold 1m shares in the mining giant. Davis acquired these shares by exercising options - 877,955 shares at 217.32p a share and 122,045 at 239.11p a share. The total cost of these shares was £2.2m and they were sold for a profit of nearly £8m.
Davis retains 1.38m shares in Xstrata, equivalent to 0.05% of the company. He acquired 891,396 shares in the company's rights issue earlier this year. These shares were acquired for 210p each.
Earlier in the week, FinnCap said that it preferred Anglo American to Xstrata. This comment came after Xstrata said its operating and financial performance in the third quarter remained strong.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Top Director Buys
Value: £63,522
Value: £34,730
Value: £18,500
Value: £15,855
Value: £13,480
Value: £11,922
Value: £11,325
Top Director Sells
Value: £10,190,000
Value: £1,190,000
Value: £1,190,000
Value: £993,319
Value: £897,828
Value: £317,611
Value: £287,082
Value: £70,858
Value: £34,514
Value: £15,600
-
What does Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
-
Will China thrive during the Year of the Snake - or will Trump’s tariffs bite?As the Chinese lunar new year begins, investors will be wondering whether allocating to the world’s second-largest economy will “rattle” up some big returns, or whether Trump’s tariffs will take a “venomous bite” out of investment performance
