Glencore Share Discussion Threads

[this_time_its_different] 03/7/2018 12:47

Glencore will fall more, this is a bull trap. Let the stock settle for a few days before jumping in.

[careful] 03/7/2018 12:43

As if anyone could do business in Africa without a few bungs here and there.
You have to see the funny side.

That will probably be the defence.
It worked for billionaire Howard Hughes all of those years ago on government defence contracts.
He was able to show that 'everyone was at it'.

The uk got that multi billion defence contract with Saudi Arabia all of those years ago.


luvvly jubbly.

[careful] 03/7/2018 12:41

Could the UK fine them?
A few billion would help the NHS.
Maybe Greece could fine GLEN and clear their debts.

What a racket.
BP has been subsidising lame duck businesses within 300 miles of the gulf spill.
cost them billions.

[younasm] 03/7/2018 12:40

Setup various strategies for shares to rise in 1-3 months - using options - downside is protected

[brahmsnliszt] 03/7/2018 12:36

the biggest ever US penalty for foreign corruption was 965m after a swedish telecom company admitted it had paid hundreds of millions in bribes in Uzbek. A 965mill fine for GLEN would equate to around 5-6p of their current share price

Overdone imo

[withoutt] 03/7/2018 12:14

Mr Roper how you keeping, and yes your correct re Baar, is that near Thailand ;-)
Old GKP thing, take care and ATB

[waldron] 03/7/2018 12:13

SEE THAT US MARKET TO CLOSE EARLY FOR 4th july celebrations

so the share price might well be in the 280 TO 310 box

so a buying opportunity historic

me thinks sell OFF over done

any fine would have to be 5 billion euros to warrent this sell off

OFF TOPIC

HOPING ENGLAND AND SWITZERLAND WIN WORLS CUP GAME TODAY

WHATEVER HAPPENS,THERE SHALL BE FIREWORKS

[careful] 03/7/2018 12:06

fanghorn
you have no gratitude.
it was the Russians with over 20m dead that crushed the Germans for you.
have some respect.

[mr roper] 03/7/2018 12:01

Last time I checked Glencore are based in baar. Definitely not in the Eu.

[raffles the gentleman thug] 03/7/2018 11:51

Is the Glencore share price a bargain after Vedanta surges 25% on bid approach?https://www.fool.co.uk/investing/2018/07/02/is-the-glencore-share-price-a-bargain-after-vedanta-surges-25-on-bid-approach/Hee hee

[fangorn2] 03/7/2018 11:42

@Careful
"I am a remainer because I do not want the Americans to be my new masters."

When America's reign as global superpower ends I suspect you'll miss them being your supposed "master" as the Chinese will be far more ruthless.

As all Communist/Hard left regimes always are!

Don't see US committing mass genocide against its own people. Do you?
Now the Chinese. The Russians.That's another story.

P.S It's thanks to the US taxpayer that Europe's independence absent war has been guaranteed since 1945. Otherwise the Russians would've had the tanks rolling.
Be grateful because it isnt the EU defence spending that keeps the Russians at bay.

p.s I'm a LEAVER - best vote I've ever made.

[whatsup32] 03/7/2018 11:27

Thanks to all.
zho thanks for the link. Very informative

[zho] 03/7/2018 11:11

Discussion and broker comment at

[younasm] 03/7/2018 11:08

USA trading starts to impact from 11:30am - so you will see some movement to reverse. Volatility is certain - you can make some money if you get the timing right - difficult to say whether it will recover, but on downside it should find good support around 300p and then 280p should be the bottom until there is more clarity??

[the grumpy old men] 03/7/2018 11:03

sell off USA side in the morning and hopefully a substantial buyback end of day

[the grumpy old men] 03/7/2018 10:58

Glencore faces US money laundering investigation

Glencore
Glencore's shares dropped after the US Department of Justice demanded money laundering documents

Jack Torrance

3 July 2018 • 10:15am

Mining giant Glencore has revealed demands from the US Department of Justice to hand over documents in relation to corruption and money laundering rules.

The FTSE 100 company said the files related to its operations in Venezuela, Nigeria and the Democratic Republic of the Congo stretching back as far as 2007 and concern its compliance with the Foreign Corrupt Practices Act and US money laundering laws.

Glencore said it was “reviewing the subpoena and will provide further information in due course as appropriate”.

The news sent Glencore’s shares down more than 10pc to 314p on Tuesday morning, wiping more than £5bn off its market value.

Glencore, which is helmed by billionaire Ivan Glasenberg, has mines and offices in 50 countries and generated revenues of more than £200bn last year.

The news comes after the commodity mining and trading company settled a thorny legal fight last month in the Democratic Republic of Congo over a copper mining joint venture. It agreed to recapitalise Kamoto Copper Company, which is 25pc owned by state-backed company Gecamines and 75pc by Katanga Mining, which is in turn majority owned by Glencore.

In return Gecamines agreed to drop legal action that could have resulted in the dissolution of the company and Glencore losing Kamoto’s mining licence.


Follow Telegraph Business

[whatsup32] 03/7/2018 10:46

Any views how share price will react when states opens

[tradejunkie2] 03/7/2018 10:32

Oh dear oh dear. It's not ridiculous at all....

[a2584728] 03/7/2018 10:19

Ridiculous price action

[fuji99] 03/7/2018 10:17

Now that the americans start to complain about the petrol price rise at the pump, he is pushing saudi arabia to increase oil production to flood the markets. While "America first" is put into practice, the rest of the world is lining up to the slaughter house. We are now in the real "free world" of innovation, commerce, free economy and freedom.

[raffles the gentleman thug] 03/7/2018 10:11

Well I'm afraid Trump, the proponent of free trade, gets my vote all day long, not the EU who have been forcing their consumers to pay artificially inflated prices for years, whether for cars or agricultural produce.


As for GLEN selling to China, I agree they can sell to whom they like, but in my experience its generally not a winning strategy for producers of commodities to selectively a large part of their output over multiple years to one country at the expense of others. These things do tend to backfire especially given the global and frankly hostile implications of China 2025

[tradejunkie2] 03/7/2018 10:10

WOW!

Glencore shares plunge over 10pc after receiving subpoena from US DoJ relating to money laundering