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Why Teck Resources Stock Rocketed 27.5% in April

Why Teck Resources Stock Rocketed 27.5% in April

Shares of Teck Resources (NYSE: TECK) surged 27.5% in April, according to data provided by S&P Global Market Intelligence. The catalyst was mining and commodities trading giant Glencore's (OTC: GLNCY) offer to acquire Teck Resources and de-merge its combined coal businesses. In February, Teck Resources unveiled to shareholders its plan to spin off its steelmaking coal business.