Investment banks to cash in if £31bn Glencore opts for a London listing December 5, 2010 THE world’s biggest commodities trader, Glencore, is said to be planning a float for next year that could be the largest ever seen on the London Stock Exchange if the firm opts to list in the UK. However, it might instead choose to float in Hong Kong to gain access to faster-growing emerging markets, or [...]
Glencore paves way for £10bn flotation November 18, 2010 PRIVATELY held commodities giant Glencore is considering listing in the first half of next year, in an IPO that could raise around £10bn. Glencore, the world’s biggest commodity trader, has been preparing to go public after issuing a $2.2bn (£1.bbn) convertible bond last year. The group, which yesterday posted a strong jump in nine-month profit, [...]
Glencore “mulling £10bn IPO” November 18, 2010 Commodities group Glencore is considering listing in the first half of next year with an initial public offering (IPO) that could raise around £10bn. Glencore, the world’s biggest commodity trader, has been preparing to go public after issuing a $2.2bn (£1.4bn) convertible bond last year. The group, which posted a strong jump in nine-month profit, [...]
Glencore moves to divest $5bn of gold assets August 26, 2010 THE WORLD’S biggest commodities trader Glencore unveiled plans yesterday to spin off or list its gold assets, worth up to $5bn (£3.22bn), as it reported a surge in first-half profits due to strong metals prices. Swiss-based Glencore has also dropped the idea of finding a partner for its Prodeco coal assets, a source close to [...]
FTSE begins to recoup losses as miners and banks advance August 26, 2010 BRITAIN’S top share index rose yesterday, boosted by a rebound in commodity stocks and helped by better-than-expected economic data from the US. The FTSE 100 closed up 46.44 points, or 0.9 per cent, at 5,155.84, as London’s blue chips rallied from a seven-week closing low on Wednesday. Weekly jobless claims in the United States declined [...]
FTSE falls as economic woes hit banks and commoditiesTHE LONDON REPORT August 18, 2010 Banks and commodity stocks pushed Britain’s top shares lower yesterday, with worries over the global economic recovery knocking sentiment and weak volumes exacerbating stock moves as the FTSE 100 remained range-bound. The FTSE 100 closed down 47.68 points, or 0.9 per cent, at 5,302.87 after ending 1.4 per cent higher on Tuesday at 5,350.55 for [...]
Base metals can still shine in an uncertain environment August 8, 2010 THE global economy is at an important crossroads; economic data from the US has been patchy and signs of a slowdown in China are causing bouts of volatility in risky assets. However, base metal prices have held up well. The question is, will they continue to do so? The recent surge in base metal prices [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 3, 2010 FINANCIAL TIMES BARCLAYS OFFLOADS LOANS IN STRUGGLING CONNAUGHT Lenders to Connaught have started selling their loans to the company, in a sign of their concern about the state of the embattled social housing maintenance group. Barclays, one of Connaught’s syndicate of banks, which is led by Royal Bank of Scotland, on Monday night sold its [...]
ANALYST VIEWS: WHAT DOES THIS MEAN FOR XSTRATA? August 3, 2010 DAVID BUIK | BGC PARTNERS “These results are up 300 per cent on last year. It is a staggering achievement to deliver figures this robust. It shows how much demand for coal has increased in China. This is leading the firm’s push and will continue to be a strong driver for growth into the future. [...]
Glencore eyes sale or IPO of its gold mines June 7, 2010 COMMODITIES trader and miner Glencore is thought to be considering putting its gold mines on the market as gold prices remain robust while other metals prices tumble. One option is understood to be for the Glencore, the world’s biggest commodity trader, to list the assets which mainly consist of the largest gold mine in Kazakhstan, [...]