Stock Movers Glencore Talks, ASML Gains, Sainsburys Suffers
Jan 9, 2026
Chloe Millay, a Bloomberg reporter specializing in European markets, dives into sizzling topics. She discusses the potential merger of Rio Tinto and Glencore, which could reshape the mining industry. Millay also highlights ASML’s recent stock boost linked to TSMC's strong revenue and its implications for AI investment. Additionally, she covers Sainsbury's disappointing holiday sales amid fierce competition from discount retailers like Aldi and Lidl, revealing the pressures British supermarkets face.
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Mega Merger Fueled By Copper Demand
- Rio Tinto and Glencore are in talks to form the world's biggest mining company worth over $200 billion.
- The deal reflects deal fever driven by soaring copper demand for energy transition and AI infrastructure.
Coal Business Creates Merger Friction
- A key hurdle is Glencore's coal business, which Rio Tinto has exited to focus on iron ore and copper.
- That mismatch could complicate a merger despite investor enthusiasm.
Chip Rally Backed By TSMC Comfort
- ASML shares rose after TSMC reported revenue above estimates, calming fears of an AI spending bust.
- Strong TSMC numbers reassure investors that AI infrastructure spending could remain sustainable into 2026.