Glencore Xstrata leads index on better than expected synergies

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Glencore Xstrata shares are leading the FTSE 100 this morning on news that the miner is gaining better than expected synergies from its recent merger (release).

At least $2 billion of synergies estimated for 2014, materially exceeding the initial merger guidance of $500 million;
$450 million to come from marketing synergies as forecast, $175 million from financing synergies and $1.4 billion through cost savings

The mega miner will also be receiving a boost from better Chinese data released earlier today.