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Market overview: Glencore holds secret talks with investor group

LONDON (ShareCast) - (ShareCast News) - 1235: Glencore (Xetra: A1JAGV - news) held secret talks on Tuesday morning with the most influential investor trade body in the City, the Investment Association, amid anger over its recent 'cash call' - particularly the absence of any prior consultation with them.

1210: Goldman Sachs (NYSE: GS-PB - news) has cut its year-end 2015 target for the benchmark S&P 500 to 2,000 points from 2,100 previously.

0900: Plumbers' merchant Wolseley (LSE: WOS.L - news) is lower after the firm warned of challenging markets outside the US and despite announcing a £300m share buyback.

0835: Stocks have started lower on the back of follow-through selling from the Asian session and on Wall Street overnight. Stock is Glencore bouncing back, recovering roughly a third of its value on the back of positive commentary out of the likes of Citi and Bernstein. Shares (Berlin: DI6.BE - news) of US-facing Wolseley on the other hand are getting hammered in the early going. Eurozone manufacturing PMIs and August data on consumer credit and mortgage approval numbers in the Uk are due out over the next hour. FTSE 100 down 27.39 points to 5,920.45.