Advertisement
UK markets closed
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • CRUDE OIL

    83.08
    +1.73 (+2.13%)
     
  • GOLD FUTURES

    2,253.90
    +41.20 (+1.86%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • Bitcoin GBP

    56,067.15
    +1,461.20 (+2.68%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • NASDAQ Composite

    16,379.46
    -20.06 (-0.12%)
     
  • UK FTSE All Share

    4,338.05
    +12.12 (+0.28%)
     

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)