Glencore share price drops to its lowest point since listing on worsening commodities rout September 25, 2015 Glencore shares have fallen to their lowest point since listing, dropping below its 100p per share floor for a second time this week, as a global rout continues to pummel the embattled commodities giant. After a somewhat buoyant opening, Glencore has tumbled anew, falling 2.3 per cent over the course of the morning to trade [...]
Glencore non-executive director William Macaulay has bought 1.7m company shares October 2, 2015 First Reserve chairman and chief executive William Macaulay has bought more than £1.5m-worth of Glencore shares. Macaulay, who has been an independent non-executive director at the troubled miner and trader since 2011, has picked up 1.7m shares, at a price of 90.9p. It comes just two days after Glencore's chairman Tony Hayward [...]
Glencore to cut capex by $800m as mining is hit August 14, 2015 MINING and commodities giant Glencore yesterday announced it would be cutting capital expenditure for the second half of the year, reducing its previous upper estimate by $800m (£513m) to $6bn. Its half-year production report also revealed that the value of its oil operation in Chad could fall by as much as $790m from its previous [...]
It’s been a bumper year for stock markets – but how good was 2016 really? December 20, 2016 “Some investors have quipped that it took days for the markets to digest the UK referendum outcome, hours to come to terms with Donald Trump as President-Elect and minutes to assess Italian Prime Minister Matteo Renzi’s resignation,” Mark Haefele, global chief investment officer at UBS Wealth Management, told clients last week. It has been a [...]
FTSE-listed miners Glencore, Anglo American, BHP Biliton and Antofagasta’s share prices rattled by weak Chinese data October 13, 2015 Shares in London-listed miners were rattled this morning after Chinese imports slipped 20 per cent last month, reinforcing fears that the country's economy is losing momentum more quickly than initially thought. Glencore fell 5.1 per cent to 114.95p per share, Anglo American slipped 2.5 per cent to 675.15p per share, BHP Billiton fell 1.87 per cent to 1,155.50p per share and [...]
Glencore share price rebounds in late trading – after it plunges 30 per cent in Hong Kong September 29, 2015 Shares in embattled commodities miner and trader Glencore closed up 17 per cent to 80.25p per share today after extending gains just before the close. Glencore shares soared around 19 per cent to 81.53p this afternoon, following an assurance from the company that it's "financially and operationally robust". Earlier today Nigel Wilson, chief executive of Legal [...]
Mixed fortunes for London-listed miners amid Brexit vote fallout June 27, 2016 The fallout from the UK's Brexit vote was a boon for precious metals miners as investors sought safe-havens today, but this wasn't the case for the whole sector. Mexico's Fresnillo finished up seven per cent to 1,483p per share, while Rangold Resources added 9.02 per cent to 8,035p and gold miner Centamin swelled 8.15 per cent to 130.10p. Read more: Texas "frack master" accused [...]
Glencore chief executive Ivan Glasenberg tells rivals to close failing mines to help rally copper price October 5, 2015 The chief executive of ailing mining company Glencore said today rival companies should also be closing their loss-making mines to stop flooding the copper market. Ivan Glasenberg said: “If you're not making money I believe you should take production out and reduce supply. Don't create oversupply in the market for no reason.” Speaking at a [...]
Glencore share price closes sharply lower amid commodities rout, China and Credit Suisse downgrade September 22, 2015 Glencore shares closed down 10.6 per cent to 106.35p this afternoon, as commodity prices careered downwards amid concerns over China's slowing economy. Earlier today, the commodities trader and miner fell below the 100p per share mark for the first time since it listed, sliding 14 per cent to 99.9p per share. Commodities such as copper and [...]
Glencore share price dips as miner confirms asset sales in Chile and Australia to shrink debt pile and weather commodities rout October 12, 2015 Embattled mining and trading giant Glencore is selling off assets in Australia and Chile, in a move to diminish its mountain of debt. The company confirmed it will sell its wholly-owned Cobar copper mine in Australia and Lomas Bayas copper mine in Chile, after it flagged early this morning it will announce proposed sales of assets in the regions. The company [...]