Glencore Share Discussion Threads

[tradejunkie2] 03/7/2018 20:00

I loved curried dog and chips.

[fangorn2] 03/7/2018 19:31

@Losses

They still have and use the death penalty in TRUMP land... so not much difference between them and Saudi


They have the death penalty in Singapore.
For drugs - So what?

The death penalty in China, for fraud. So what?

[waldron] 03/7/2018 19:21

SO WE FINISH THE DAY IN THE 310 to 340 BOX

EXPECT A QUIET DAY TOMORROW

[a2584728] 03/7/2018 17:46

In For a bounce tomorrow

[tradejunkie2] 03/7/2018 17:42

oh no montyplonk is here lol

[montyhedge] 03/7/2018 17:25

They knew the risks, all that about US may turn a blind eye was rubbish, down again tomorrow i reckon.

[creddy] 03/7/2018 17:18

Way oversold. Company size of glencore would have substantial compliance and legal departments so either heads will roll somewhere or they'll defend themselves to the hilt. Either way, would need to be fined 5 billion to warrant today's sell off. Buy opportunity. IMHO.

[wisteria2] 03/7/2018 17:02

That's my take so increased my holding today. gla

[waldron] 03/7/2018 16:49

APPARENTLY SUBSTANTIALLY OVERSOLD

[waldron] 03/7/2018 16:48

Analysts at RBC Capital said on Tuesday that after being issued a subpoena from the US Department of Justice regarding more than a decade's worth of business practices, the investment case surrounding mining giant Glencore was more uncertain than it had been beforehand.

Glencore was hit on Tuesday with a subpoena from the DoJ which requested it produce documents and other records related to its activities in Nigeria, the Democratic Republic of the Congo and Venezuela dating from 2007 to present.

"The subpoena drives more uncertainty into the Glencore investment case, which we find compelling from a valuation perspective, but increasingly challenged from a headline risk perspective," RBC said.

While the Canadian broker noted there was not enough detail in the release to understand exactly what the investigation was centred on, given that it covered multiple countries, it would indicate that there was a "relatively thorough investigation" taking place.

Investigations under the banner of the Foreign Corrupt Practices Act generally result in sanctions, fines and penalties of up to $25m or twice the gain or loss caused by the violation and imprisonment for up to 5 years for each breach.

"After navigating the recent challenges in the Congo, albeit with a jurisdictional shift in risk from the Congo to the US, this investigation is likely to provide another reason for investors to proceed with caution around the Glencore investment case," said RBC's analysts.

"We would expect that Glencore will use all legal means to defend itself and would highlight that there are no formal charges at this stage."

RBC stuck to its 'outperform' recommendation and 410p target price on the stock.

[waldron] 03/7/2018 15:14

Jefferies reduces its target for Glencore from 500 to 440 GBp, but remains a buyer.

[garycook] 03/7/2018 14:56

03 Jul Glencore PLC RBC Capital Markets Outperform 332.35 410.00 - Reiterates

[notimpressed] 03/7/2018 14:54

well at least it held on the dow open

[careful] 03/7/2018 13:48

things improving with GLEN, slowly recovering.

[careful] 03/7/2018 13:44

Piper Alpha North Sea platform fire.1980's.
167 deaths.
cost to the American Company Occidental..peanuts.
they should be called accidental.

Sometimes we forget that American lives are worth more than others.
remember after 9/11 with under 3000 dead.
Tragic to be sure.
But in the UK there was 3 minutes silence.
We have less than that to remember the dead of 2 World Wars.

[notimpressed] 03/7/2018 13:25

if ever the term duplicitous morality applied to any country
or leader, look no futher than the USA, despicable cretins
of the highest order
deepwater horizon a heinous crime, exxon valdez a minor incident.
They want to can the WTO, yet still dictate to everyone else the
terms of business.

[losses] 03/7/2018 13:13

They still have and use the death penalty in TRUMP land... so not much difference between them and Saudi

[losses] 03/7/2018 13:07

US demands Glencore documents to check on corruptionhttps://finance.yahoo.com/news/us-demands-glencore-documents-check-094610617.html

[careful] 03/7/2018 12:58

No one pushes for democracy in Saudi Arabia.
They could get the wrong answer.

[fuji99] 03/7/2018 12:55

Can anybody remember when a country on the planet threatens others if they don't apply sanctions against another country because they dislike it - or do not vote for them in the world cup - ?
This is the amazing world where we live today ! Saudi arabia where human rights are at the very very very bottom end of the human existence is apparently a "friend" for Trump ! A country where every Friday they slash human arms and heads !