Glencore insists it is “operationally and financially robust” as share price continues to tumble September 30, 2015 Glencore has issued a statement insisting it is "operationally and financially robust" as the mining giant struggles to overcome its recent woes. The Anglo-Swiss commodities trader – whose share price has fallen more than 73 per cent since the start of the year, making it by far the worst performer on the FTSE 100 [...]
Global markets on track for worst quarter since 2011 September 30, 2015 The commodity price rout, fresh concerns over the Chinese economy followed by its shock devaluation, uncertainty surrounding the Greek bailout deal, the prospect of a September interest rate rise from the Fed were some of the factors that made this summer a white knuckle ride for investors. Federal Reserve's first interest rate rise since 2006. [...]
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 [...]
City confidence in Glencore evaporates as share price plunges amid China woes and commodity troubles September 29, 2015 The last week of trading in September has been particularly harsh for Glencore as the company has seen its price crash through the £1 level and officially turn into a “penny share”. As confidence in the Chinese economy’s ability to halt the slide in growth continues to wane, optimism for mining sector stocks has been [...]
Glencore facing race against time as debt concern grows and share price tumbles September 29, 2015 After more than £2bn was wiped off Glencore today, the company is facing a race against time, as investors signalled mounting concern over the size of its debts. The company's debt-laden balance sheet, coupled with persistently low copper prices, could mean Glencore is sitting on a ticking debt time-bomb. "The management have outlined a plan [...]
FTSE slumps as miners plumb China depths – London Report September 29, 2015 BRITAIN’S leading share index fell yesterday as fears grew over mining group Glencore’s ability to withstand a metals price slump and as Vodafone’s European tie-up talks with Liberty Global ended. The FTSE 100 index was down 2.5 per cent, at 5,958.86 points at its close, a touch lower than European indexes. The UK market is [...]
Glencore share price history: A timeline of what went wrong from record drops to credit rating outlook fears September 28, 2015 The commodity price rout and concerns over a slowdown in the Chinese economy have helped send Glencore shares around 70 per cent lower this year – making it the worst performer on Britain's FTSE 100. And shares in the embattled commodities miner and trader continued their downwards trajectory today, after a particularly bearish note from [...]
Glencore share price crashes as analysts warns on metal prices September 28, 2015 Glencore shares tumbled today after a particularly bearish note from analysts. Broker Investec questioned how much the company would be worth if metal prices fail to improve, while pointing to its high debt levels and a need for restructuring. The note sent shares in embattled commodities trader and miner shed as much as 31 per cent [...]
Glencore share price ends sharply lower in race against time amid global commodities price rout September 28, 2015 After more than £2bn was wiped off Glencore today the company faces a race against time "As fears grew about the company's ability to withstand the prolonged rout in global metal prices." Shares in Glencore ended the day at a new record low, down 29.4 per cent to 68.62p per share in London. Other miners [...]
Avoiding pitfalls in a management buy-out – Investec Comment September 27, 2015 A management buy-out, when a management team buys a company from its existing shareholders, should be a win-win situation. The management team, alongside its private equity backer, gets to acquire the business they have worked hard to build. For the selling shareholder, the business’ management team is in theory the most educated buyer they could [...]