Stock Movers Rio Tinto Talks, BNP, L'Oreal
Jan 9, 2026
Chloe Melle, a Bloomberg reporter known for her keen market insights, dives into the exciting merger talks between Rio Tinto and Glencore that could reshape the mining landscape. She discusses the implications of rising copper demand driven by the energy transition and AI on these negotiations. The conversation also highlights BNP Paribas's two recent upgrades, addressing profitability improvements amid legal challenges. Additionally, L'Oreal's shares surge following a UBS upgrade, underscoring strong growth prospects and product innovation.
AI Snips
Chapters
Transcript
Episode notes
Copper Deal Faces Structural Hurdles
- Rio Tinto and Glencore talks aim to create the world’s largest copper-focused miner amid record copper demand.
- The deal faces hurdles from Glencore's coal assets, multi-jurisdictional approvals, and Rio's dual listing structure.
Deal Might Be Smaller Than It Appears
- Analysts expect any transaction may be smaller than initially suggested because combining all assets looks unlikely.
- Market moves showed Glencore shares rising while Rio Tinto fell as investors weighed the complexities.
Upgrades Despite Litigation Risk
- JPMorgan and UBS upgraded BNP Paribas citing improving profitability and a stronger capital position.
- Upgrades come despite litigation risk from a failed bid to dismiss a verdict linking the bank to Sudan abuses.