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.

Recommended for share growth

As Glencore Xstrata reports Q2 results, Helal Miah, investment research analyst at The Share Centre, explains what they mean for investors.

"This morning, Glencore Xstrata released its half year production report (on a combined basis) that showed copper production of 673,400 tonnes, up 20% from the previous year boosted by production increases at its African mines. Investors will also be pleased to see gold production up 14% and coal production in Columbia up 22% after a successful expansion plan, however Zinc production was down by 3%.

"Although the mining sector has had a poor time recently we recommend Glencore Xstrata as a ‘buy' for investors. The company has a unique business model; a fully integrated commodities company with operations involved in extraction, processing, storage, freight and logistics to marketing and sales. The merged business should now allow for scale of production to extract metals, energy and soft commodities in five continents.

"As the global economy shows signs of improvement and the positive impact this may have on commodity prices, we believe an investment into Glencore Xstrata now poses less risk with a good potential for capital growth."

JP Morgan Cazenove "JPMorgan Cazenove has named diversified miner Glencore Xstrata its top pick amongst copper producers, while downgrading its rating for Antofagasta.Glencore Xstrata, which derives 35-40% of its EBITDA/NPV from copper, "stands out in our view", JPMorgan said, reiterating its 'overweight' rating and 410p target price. As for Antofagasta, the broker said that the stock is "up to speed with events" as it cut its rating from 'overweight' to 'neutral' and trimmed its target price from 1,040p to 1,005p."nk

Rns... By Chuin-Wei Yap BEIJING--China's largest copper producer by output, Jiangxi Copper Co. (0358.HK), is planning to bid for the Peruvian copper mine owned by commodities giant Glencore Xstrata PLC (GLEN.LN), the company's board secretary Pan Qifang told the Wall Street Journal Friday. Glencore had agreed to sell the mine, called Las Bambas, as a condition of getting approval from China's Ministry of Commerce for its merger in April with Xstrata. "We are currently considering plans to make the purchase, but haven't talked about a specific price," Mr. Pan said, without elaborating. Analysts estimate Las Bambas to be worth about $5 billion. The Wall Street Journal reported last week that China's Chinalco Mining Corp. International (3668.HK) was close to appointing investment banks Goldman Sachs Group Inc. and Morgan Stanley to advise it on buying the Peruvian property, according to people with knowledge of the matter. Mr. Pan didn't say if Hong Kong- and Shanghai-listed Jiangxi Copper would partner Chinalco in its bid. Chinalco Mining is the Hong Kong-listed copper unit of Aluminum Corp. of China, China's largest aluminum and alumina producer by output. Write to Chuin-Wei Yap at chuin-wei.yap@wsj.com Subscribe to WSJ: [link] (END) Dow Jones Newswires August 23, 2013 04:32 ET (08:32 GMT)

This adds to sets of asset sales by Glencore by year end, over $10bln.

Glencore-Xstrata-targets-brazilian-iron-ore-group

Cazenove note:
GLEN has announced interim Chairman Tony Hayward has been appointed to the role on a permanent basis, having been a leading candidate since the search process began in May’13. We expect a mixed shareholder reaction; Dr Hayward's leadership roles at BP and Genel provide the Board with highly relevant expertise at a time GLEN is increasing its upstream E&P exposure. However the nature of his exit as CEO at BP means he may not be viewed universally positively by the US market. In addition, Dr Hayward may need to earn trust that he has the force of personality to maintain the Board's independence alongside GLEN’s CEO and largest individual shareholder (8.3%) Ivan Glasenberg. We view this is a positive appointment, with the merits to be proved over time.
Dr Hayward brings extensive & relevant industry leadership: Tony Hayward is CEO of Genel Energy, a high growth, emerging market E&P company with assets in Kurdistan and he will retain this role. Previously he was CEO of BP from 2007 to 2010, having joined BP in 1982, but departed following the Macondo oil spill. Dr Hayward has served on GLEN’s board since Apr’11 and was senior NED until he was appointed interim Chairman in May’13. In our view, most UK and European institutional investors will be well disposed to his appointment.
GLEN has highest exposure to bullish Nickel fundamentals: We cite tightening nickel markets following Indonesia’s ore export ban in Jan’14 could be a key foundation for GLEN share price support. Overnight nickel prices have continued to move higher and are approaching $19,000/t. GLEN has the highest earnings sensitivity to nickel of the diversifieds; we calculate a 10% move in the nickel price impacts 2014/15 EPS by 3.4/4.6%.
Valuation: GLEN trades on spot PERs of 16.0/14.2x for FY'14/15E and a base case P/NPV of 0.87x. We continue to believe GLEN’s differentiated commodity mix, marketing business and capital allocation strategy justify a premium rating. However, with a lower likelihood of immediate capital returns than peers, we retain our Neutral recommendation."

When is the record date for 11cent cash distribution?

Half-year production report

Aug 14:
Deutsche: Buy -TP 400p
Barclays: Overweight
Credit Suisse: Neutral - TP 380p

Aug 13:
Investec; Hold - TP: 360p
Liberum: Hold - TP: 300p

Possible cash return
Now repeated in FT.

Results Wed 20 August

Aug 18:: Nomura: Neutral; Deutsche: Buy - TP retained: 400p.

Half-year results

20 Aug: Liberum retains 300p TP.

Aug 21: Deutsche: Buy - TP: 400p; Credit Suisse: Neutral - TP: 380p

H1 xd 3 Sept - payday 19 Sept - 6cents

Aug 31: Jefferies: Buy - TP: 430p

Sept 3:
Jefferies: Buy - TP: 430p
Investec: Add - TP: 380p
Deutsche: Buy - TP: 400p

Lonmin stake to be sold

CEO disnisses bid talk for Anglo American.

Sept 8: Exane BNP: Outperform - TP: 460p

SP falls on Glencore/London Mining dispute