Pre-market trading started yesterday (19-05-11), but full market trading to start next week, Tuesday as it now stands (could change). 530p the float price.

Chart to come when I get it, and any other updates/corrections that I happen to spot.

Barclays Capital today reaffirms its overweight investment rating on Glencore PLC (LON:GLEN) and cut its price target to 400p (from 450p).

StockMarketWire.com
Glencore said Wednesday first-half profit rose 13% supported by a favourable trading and commodity price environment.

For the six months to 30 June, net income rose 13% to $2.8bn, underlying earnings rose 12% to $0.19 a share and adjusted earnings (EBITDA) rose 23% to $8.27bn.

Strong performances from metals and minerals and energy products segments, which rose 17% and 23%, respectively, supported the rise in profits.

The miner reported capital expenditure of $2.17bn, compared with $1.68bn spent in the first half of 2017.

Glencore said the second instalment of the 2018 distribution of $1.4bn would be paid in September.

Net debt was reduced 16% to $9bn from $13.9bn.

'The strength of our diversified business model and commodity mix is once again demonstrated with a 13% increase in net income and a 23% increase in Adjusted EBITDA to $8.3 billion,' said Glencore's Chief Executive Officer, Ivan Glasenberg.

'Against a volatile but favourable trading and commodity price environment, Marketing performed towards the upper end of its guidance range with a 12% increase in Adjusted EBIT to $1.5 billion. Our Industrial business recorded Adjusted EBITDA of $6.7 billion, up 26%, reflecting the highly competitive cost positions of our asset base.'

JP Morgan Cazenove today downgrades its investment rating on Glencore PLC (LON:GLEN) to neutral (from overweight) and cut its price target to 370p (from 520p).

Mining conglomerate Glencore on Friday said third quarter own-sourced copper production increased 12% to 1.06m tonnes while own-sourced cobalt production was up 44% to 28,500 tonnes. Coal production rose 6% to 96.7m tonnes, reflecting the acquisition of interests in the HVO and Hail Creek mines in Australia in May and August 2018 respectively and the recovery in Australia from weather-related disruption and industrial action in 2017.