BUZZ-Glencore: rallies after Q1 production report
** Shares (Berlin: DI6.BE - news) of commodities trader and miner +2 pct, near top of FTSE 100
** Co says it expects 2018 earnings from its trading division to be at the top end of previously flagged range of $2.2 bln and $3.2 bln, in line with Morgan Stanley (Xetra: 885836 - news) estimate of $2.84 bln
** Co says production across all commodities is in line with expectations in the first quarter of this year and the ramp-up of its Katanga copper and cobalt mine in Democratic Republic of Congo is on track
** Q1 copper output up 7 pct YoY at 345,000 tonnes
** Uncertainty over Democratic Republic of Congo's new mining code and freezing orders for unpaid royalties has weighed on the shares of Glencore (Frankfurt: 8GC.F - news) , the only faller when compared to other London-listen major miners year to date
** YTD: Glencore (Amsterdam: GX8.AS - news) (-6.5 pct), Anglo American (LSE: AAL.L - news) (+14.9 pct), Rio Tinto (Hanover: CRA1.HA - news) (+3 pct), BHP Billiton (NYSE: BBL - news) (+3.7 pct) (RM (LSE: RM.L - news) : justin.varghese.thomsonreuters.com@reuters.net)