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 [...]
Glencore earnings beat estimates as it shoulders commodities rout September 28, 2015 The figures Switzerland-based Glencore said attributable net income fell seven per cent to $4.3bn (£2.7bn), down from $4.6bn a year earlier. This beat expectations as analysts had forecast $4.1bn. Meanwhile, net debt rose to $30.5bn. It set aside $1.1 billion of impairment charges for crumbling commodity prices. The company has also recommended a final cash [...]
Glencore’s share price falls below 90p after it sells off nickel project at cut-price $8m September 28, 2015 Troubled mining and trading firm Glencore's share price plummeted to a fresh low this morning, after agreeing to sell its Araguaia nickel project (GAP) to Aim-listed Horizonte Minerals for a discount price of $8m (£5.3m). Shares in Glencore fell more than 16 per cent in early trading, while Horizonte Minerals' share price climbed 5.6 [...]
From Volkswagen and Glencore to the Black Cab protest: Here’s what got us talking this week September 25, 2015 There was an alarming protest in Croydon (with an excellent response from Debenhams). There was an eyebrow-raising development in the world of robotics. And somewhere in the CIty, some window cleaners were left hanging. On the side of skyscraper. For several hours. Here's what got us talking this week Could you fall in love with [...]
Glencore share price drops to its lowest point since listing on worsening commodities rout September 25, 2015 Glencore shares have fallen to their lowest point since listing, dropping below its 100p per share floor for a second time this week, as a global rout continues to pummel the embattled commodities giant. After a somewhat buoyant opening, Glencore has tumbled anew, falling 2.3 per cent over the course of the morning to trade [...]