29.09.2015 - Commodities approach ‘peak pessimism’
Is pessimism in the commodities sector reaching a peak? Take commodities trader Glencore, for example. Its shares are down over 20% at the open today. It’s never traded this low since it first floated on the stockmarket in 2011. And it could trade lower still. It’s a life or death moment for the company. It may not survive lower commodity prices, according to a report by Goldman Sachs. The Goldman report cited lower coal (thermal and metallurgical) and copper prices. It cited the restructured $10bn in debt that has led to a lowering of its credit rating to BBB...............................................Full Article: Source
Print