Mining firms Glencore and Xstrata push back merger

Commodities firms Glencore and Xstrata have separately announced that their merger completion date has been pushed back to 16 April. Both firms are currently listed on the FTSE 100.

Our reporter Cathy Adams:

Glencore this morning posted a 25 per cent drop in net income ... Xstrata, reporting separately from Glencore before the two companies complete their record tie-up, was also hit by impairments that dragged its net profit down 79 per cent.

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