Advertisement
UK markets closed

  • NIKKEI 225

    38,236.07
    -38.03 (-0.10%)
     

  • HANG SENG

    18,484.44
    +8.52 (+0.05%)
     

  • CRUDE OIL

    78.39
    +0.28 (+0.36%)
     

  • GOLD FUTURES

    2,322.80
    +14.20 (+0.62%)
     

  • DOW

    38,675.68
    +449.98 (+1.18%)
     

  • Bitcoin GBP

    51,133.87
    +626.04 (+1.24%)
     

  • CMC Crypto 200

    1,334.05
    +57.07 (+4.47%)
     

  • NASDAQ Composite

    16,156.33
    +315.33 (+1.99%)
     

  • UK FTSE All Share

    4,469.09
    +22.94 (+0.52%)
     
BRANDS:

Meet one of the UK’s largest unknown start-ups

Video editing platform Veed has grown to 10 million users

Glencore tells investors it is on track to reduce debt -Barclays

Reuters - UK Focus

LONDON, Oct (HKSE: 3366-OL.HK - news) 1 (Reuters) - Commodities giant Glencore (Amsterdam: GX8.AS - news) told investors it was on track to reduce its debt by $10 billion with two key deals to close at the end of this year and early next, analysts from Barclays (LSE: BARC.L - news) said on Thursday.

Barclays, which organised the meeting, said it believed the company has managed to address many concerns, which in recent weeks have sent Glencore (Xetra: A1JAGV - news) 's stock plummeting.

"Our credit colleagues believe the company can retain its credit rating, although the market clearly disagrees with this," analysts from Barclays said. (Writing by Dmitry Zhdannikov)