🟢 AU is trading 4% up today on $2B share repurchase program and shareholder vote news

AU is trading 4% up at $84.13 after investors digested news of a planned $2 billion share repurchase program and a July 23 shareholder vote.

• The buyback proposal, approved by the board in May and formally noticed to shareholders on July 1, has tightened supply expectations and boosted sentiment regarding capital returns.
• AU is currently outperforming modest broader market gains in pre-market trading as a result of the announcement.
• The upcoming shareholder vote is seen as a key step in formalizing the company's commitment to returning value to investors.