Glencore Plc, has recouped most of the losses from Monday’s 29 percent plunge as the shares rebounded for a second day on higher metal prices and speculation the stock is cheap.
The company, run by billionaire Ivan Glasenberg, rose 11 percent to 88.88 pence by 9:58 a.m., bringing the two-day gain to 30 percent. The stock still needs to climb another 9.4 pence to recover the losses from Monday’s selloff. It’s still this year’s worst performer on the U.K.’s benchmark FTSE 100 Index, down 70 percent.
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Read the full story at Bloomberg, by Thomas Biesheuvel
READ MORE:
- Trading in the spotlight as Glencore seeks way out of crisis, In-Depth–Reuters
- Glencore Investors Zero In on Trading Unit, Wall Street Journal
- Glencore says it is ‘operationally and financially robust’ , BBC News
- Glencore surges after company reassures investors, The Australian Financial Review
- Glencore shares rally after miner hits back, Financial Times
- Glencore Tracks London Recovery in Hong Kong as Miners Climb, Opinion–swissinfo.ch
READ MORE:
Ivan Glasenberg
