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Commodities Briefing - Categorized | Listings/IPO/Stock Market, Market Moves more

Glencore first-half profit tumbles amid commodities rout

Posted on 20 August 2015

Shares in Glencore, the FTSE-100 miner and commodities trader, have slumped to a record low after tumbling prices for coal and metals linked to slowing Chinese demand hit first-half profits.
Glencore closed down just under 10% at 159p, far below its 2011 float price of 530p, as it revealed a slump in earnings. In the first six months of 2015, adjusted earnings before interest, tax and other items fell 29% from a year earlier to $4.6bn (£2.9bn) as the price of aluminium, nickel and other raw materials fell. The company’s net income excluding significant items dropped by 56% to $882m………………………………………..Full Article: Source


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