Glencore Share Discussion Threads

[andrewbaker] 05/7/2018 09:28

Cobalt cobalt and cobalt: Glencore plays a big part in its production, including recycling. The current weakness in price is a buying opportunity. The dividend is good and covered, so income to be had whilst waiting for the share price to return to good levels, giving a nice capital return also. What's not to like?

[grupo] 05/7/2018 09:25

Raffles as Glen is a trading company,would not much of its stuff be sold forward
and thus be hit sometime in the future if things do not pick up

ie China impact

[raffles the gentleman thug] 05/7/2018 09:04

Not short fuji99. I was long at 385p but thankfully got out and looking to play it on the long side again actually. But personally think whilst a buyback is good news I don't see any particular good news on metal prices for the foreseeable future nor speedy resolution of this company's messy problems in Africa

[demo trader] 05/7/2018 09:03

333.1P.....now me wait and see

[1corrado] 05/7/2018 08:43

as long they go up perhaps 350/355 by Friday close.................

[montyhedge] 05/7/2018 08:43

Of course initial bump in price, but problems not gone away.

[demo trader] 05/7/2018 08:23

350-60p today ? Computer says no :-)

My probable target today is 333-335p, IMO

[fuji99] 05/7/2018 08:14

Raffles - If you are short, hoping this will go down to 300p'sh, I honestly think it is better to cut ones losses because this will definitely go back all the way up to 350p - 360p from today. Of course DYOR.

[dmf] 05/7/2018 08:10

Nevertheless the buyback will give the oversold sock momentum upwards !

[dmf] 05/7/2018 08:07

Would prefer cancellation of shares after buyback rather than going into treasury !

[raffles the gentleman thug] 05/7/2018 07:59

The buyback is only a couple of percent of the market cap and meanwhile Chinese economic growth is slowing and the copper price remains in turmoil which will undoubtedly prompt downgrades sooner or later.

[dmf] 05/7/2018 07:56

Glen/VED - totally different scenario...cannot compare

[demo trader] 05/7/2018 07:50

Look what happened to VED, though unlikely to happen in GLEN.

[montyhedge] 05/7/2018 07:48

Buybacks start today, that helps I suppose prop the shareprice up.

[dmf] 05/7/2018 07:45

Goldman: Commodities are set to rise, trade war fears have been oversold

[waldron] 05/7/2018 07:44

Could THERE be a 3pc jump this morning

even a jump out of the 310 to 340p BOX

[ariane] 05/7/2018 07:41

Thursday 5 July 2018 7:31am
Glencore kicks off plans for $1bn share buyback programme
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Rebecca Smith
I'm the digital editor, covering a range of news - with a particular interest in [..] Show more
Glencore is one of the world's mining giants
Glencore is one of the world's mining giants (Source: Getty)

Mining giant Glencore said this morning it will kick off a share buyback programme of up to $1bn (£756m) which will get underway by the end of this year.

The company, which specialises in metals and minerals including copper, nickel and iron ore, has entered into an agreement with Citigroup to conduct the programme, which will be conducted in two stages.

The first $350m part gets underway today and will be wrapped up by 7 August - the day before the announcement of the company's first-half results.

Read more: Aviva to kick off a £600m share buyback programme

That part will be undertaken by Citi under "irrevocable instructions" to make trading decisions independently of Glencore, and after the 7 August, for the second part of the programme, trading decisions may be taken by Citi "in accordance with the directions of the company".

The mining giant said that it is currently intended that any ordinary shares of the company purchased will be held in treasury.

Earlier this week, the FTSE 100 miner and commodities trader was buffeted by the news that the US Department of Justice had issued a subpoena ordering Glencore to produce documents relating to its compliance with US corruption and anti-money laundering laws.

Glencore said it would review the contents of the subpoena, but the news sparked a slump in its share price - losing more than 12 per cent at one point.

[foxy22] 05/7/2018 07:40

Yes has glassenberg forgot about our special dividend..or is it just the buyback?

[leoneobull] 05/7/2018 07:38

Special dividend would be great too. Let's call it a bribe to shareholders an area Glen appears to excel in

[fuji99] 05/7/2018 07:11

Share buy-back = Strong support to the share price.

Very positive indeed as only a very few companies can do and afford it.

[demo trader] 05/7/2018 07:02

Share buy-back, up to $1b.

[book5] 05/7/2018 06:18

Cobalt hit the hardest- including Katanga
Au no too bad
Cu weak for rest of 2018
GLEN: Too risky for many to hold
Till trade war subsides .... behind the fence

[leoneobull] 04/7/2018 19:29

Copper 2.86. Trump.

[action] 04/7/2018 17:34

Heavy after hrs buying