On this episode of Stock Movers:
- Rio Tinto is in talks to buy Glencore to create the world’s biggest mining company with a combined market value of more than $200 billion, a little over a year after earlier talks between the two collapsed.
- BNP Paribas shares rose as much as 3.9% after J.P. Morgan raised the French lender’s stock to overweight from neutral, citing the prospect of improved profitability and lessening concern over its capital level. This is BNP’s second upgrade this week.
- L’Oreal shares rose as much as 4.7%, the most since July, as UBS upgrades the cosmetics group to buy from neutral, predicting an improvement in industry growth and the cosmetics group’s like-for-like sales outperformance.
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