Glencore Share Discussion Threads

[redtom1] 08/12/2018 20:38

Re buy backs, I don't think they'll announce anything for definite until the final results in Feb. But the recent trading update indicated $1bn per quarter which equates to about $11m per day, ie 4m shares a day based on current share price This would be great news as this delivers value to the remaining shareholders if one is to believe that fair value is in excess of say 350p.

[twixy] 08/12/2018 16:21

I should have said - the source was Monday 3rd Dec podcast

[twixy] 08/12/2018 16:21

I think we'll see another USD 1 Billion announced before Feb, as Ivan G. said dividends and buy backs where the best way of returning surplus cash to shareholders.

[waldron] 08/12/2018 11:16

BUYBACKS COMING ALONG SLOWLY BUT SURELY

USD 1.6 BILLION OF 2

2018/19 share buy-back programme

On 5 July 2018, Glencore plc commenced a share repurchase or buy-back programme of up to USD1 billion (the “Programme”) in the period to 31 December 2018. On 25 September 2018, Glencore plc further announced an increase in the size of the Programme by an additional amount of up to USD1 billion and the extension of the duration of the programme until the close of dealings on 20 February 2019.

[twixy] 07/12/2018 22:20

Me too - hopefully won't look a silly move this time next year :-/Share purchases up to 4.25MM today so Glen and/or their advisors think it's an attractive price too!

[leoneobull] 07/12/2018 20:19

I've topped up massively innit today.

[waldron] 07/12/2018 16:57

Rio Tinto
3,584.5 +2.02%


BHP Billiton
1,573 +0.00%


Anglo American
1,607.8 +3.30%


Glencore
279.4 +3.14%


Gold COMEX 1,251.30 +0.62%
Silver COMEX 14.68 +1.18%
Copper COMEX 2.75 +0.36%
Brent Crude Oil NYMEX 63.00 +4.90%
Gasoline NYMEX 1.51 +5.05%
Natural Gas NYMEX 4.51 +4.11%

[action] 07/12/2018 13:14

Other metal share without stamp duty like Glencore is S32 which do not have any legal battles hanging on the horizon.

[action] 07/12/2018 07:56

Glencore name is mentioned every day with wrong reason.

[waldron] 07/12/2018 07:25

Oliver Haill
WebFG News
07 Dec, 2018 07:04
Sector movers: Sinking tide drags down all ships

Every single sector was in the red on Thursday as the FTSE 100 and 250 indices finished around two-year lows amid a general market sell-off sparked by renewed worries about US-China trade relations.

Oil producers and services providers to the industry were among the biggest fallers, sending investors into safer havens as oil prices jagged lower after a summit of the Opec oil producer's cartel ended the day without any firm decision.

Brent crude and West Texas Intermediate were down more than 4% during the afternoon, easing off slightly to $59.50 and $51.12 a barrel respectively after Saudi Arabia's energy minister dashed hopes of any steep production cuts at the OPEC meeting in Vienna.

Khalid Al-Falih told reporters that no agreement had been reached yet on a production cut and suggested that reducing output by one million barrels a day would be sufficient.

"OPEC seems to be joining in the ‘no deal’ fun, with only an agreement ‘in principle’ to cut output," said market analyst Chris Beachamp at IG. "While oil is off the lows of the day, it is not likely to hold these lows for long if oil ministers don’t agree a sizeable cut. We wait until tomorrow for further news."

The FTSE 350 Gas Water & Multiutilities index was pretty much flat, followed by tobacco - both seen as defensive sectors where investors flock during risk-off moments.

"All these are considered to be defensive stocks, offering goods and services people would buy regardless of economic conditions," said Russ Mould, investment director at AJ Bell.

Top performing sectors so far today

Gas; Water & Multiutilities -0.6%
Tobacco -1.48
Real Estate Investment & Services -1.50
Mobile Telecommunications -1.67
Real Estate Investment Trusts -1.70

Bottom performing sectors so far today

Technology Hardware & Equipment -7.64%
Forestry & Paper -5.61%
Life Insurance -5.57%
Oil & Gas Producers -4.53%
Oil Equipment, Services & Distribution -4.40%

[twixy] 06/12/2018 22:26

Good to see the buy backs have accelerated at these cheaper prices: 4MM v usual 3.25MM.

[leoneobull] 06/12/2018 17:41

Antofogasta was down 7% . Puts it in perspective

[bedruthan] 06/12/2018 17:33

Glencore showing signs of recovery now on the USA markets (GLNCY)

[waldron] 06/12/2018 16:57

Rio Tinto
3,513.5 -3.74%


BHP Billiton
1,573 +0.00%


Anglo American
1,556.4 -4.22%


Glencore
270.9 -5.11%



Gold COMEX 1,247.90 +0.43%
Silver COMEX 14.53 -0.39%
Copper COMEX 2.72 -2.02%
Brent Crude Oil NYMEX 59.14 -3.93%
Gasoline NYMEX 1.40 -3.12%
Natural Gas NYMEX 4.33 -3.07%


I GUESS WE WILL KNOW BY THE CLOSE TOMORROW WHETHER IT WILL BE CONFIRMED THAT OUR GLEN IS RELEGATED TO THE 250 to 280p BOX

[leoneobull] 06/12/2018 16:54

Yes, commodities prices are down and we sell commodities. Doesn't take a genius Einstein!

[leoneobull] 06/12/2018 16:53

Only down 5% ...could be worse. Looking forward to the dividend in April

[fuji99] 06/12/2018 10:16

All miners the same and today FTSE is -125p.

[creditcrunchies] 06/12/2018 10:11

SP here getting caned big time -20% in just over a week something going on for sure

[la forge] 05/12/2018 17:43

Home
Local News

Vale and Glencore sign joint study for Sudbury project
Mining companies announce agreement to look into resource accessibility from Nickel Rim South Mine
6
42 m by: Northern Ontario Business Staff
Nickel Rim MineVale and Glencore have announced a joint feasibility study into accessing deposits bordering both companies' properties using infrastructure in Glencore's Nickel Rim South Mine.

Sudbury's two major mining companies are jointly studying if they can access nearby resources from an active mine, northeast of the city, to extend its operating life.

Vale and Glencore announced on Dec. 4 they have initiated a feasibility study to explore the possibility of mining resources from the existing workings of Glencore’s Nickel Rim South Mine.

The study will examine the economic and technical aspects of using the existing shaft and infrastructure at the mine, as well as additional underground infrastructure, to potentially jointly develop and mine deposits in close proximity to each other.

This includes Vale’s Victor property and a shared deposit which exists adjacent to the boundary between each company’s properties.

“A joint approach could allow for resources to be unlocked that would likely not otherwise be productive,” said Ricus Grimbeek, chief operating officer for Vale’s North Atlantic Operations and Asian Refineries, in a news release.

Among the other benefits is job creation, Grimbeek added.

This feasibility study comes at a time when the economic outlook for nickel and copper looks promising.

Currently, Nickel Rim South is slated to close in 2022.

Peter Xavier, vice-president of Glencore’s Sudbury Integrated Nickel Operations, said this study has multiple benefits to the potential of coming together to mine deposits using existing infrastructure.

“The potential opportunity not only preserves significant capital for other future mining opportunities at Glencore, but also would create shareholder and economic value in the Sudbury Basin,” he said.

A joint approach to the study is an extension of the parties’ past collaboration in the Sudbury Basin.

It is expected that the feasibility study will take approximately a year to complete.

[waldron] 05/12/2018 16:56

Rio Tinto
3,650 -2.03%


BHP Billiton
1,573 +0.00%


Anglo American
1,625 -2.11%


Glencore
285.5 -3.87%



Gold COMEX 1,242.90 -0.30%
Silver COMEX 14.57 -0.51%
Copper COMEX 2.76 +0.20%
Brent Crude Oil NYMEX 62.35 +0.43%
Gasoline NYMEX 1.46 +1.21%
Natural Gas NYMEX 4.49 +0.79%

[waldron] 05/12/2018 15:49

SÃO PAULO -- Brazil's sprawling Operation Car Wash corruption probe is investigating mining giant Glencore PLC, Trafigura Group and Vitol Group for allegedly paying millions of dollars in bribes to employees of Brazilian oil company Petróleo Brasileiro SA, or Petrobras, in return for better terms on trading contracts.

Glencore and oil trader Vitol, both based in Switzerland, and Singaporean oil trader Trafigura are suspected of paying a total of about $15 million in bribes, and other trading companies also under investigation are suspected of paying a similar amount, prosecutors said Wednesday.

Spokespeople for Glencore and Trafigura declined to comment. A Vitol spokesman said the company is cooperating with authorities.

Prosecutors said they have ample documentary evidence, implicating top executives at the targets of the probe, that the companies bribed Petrobras employees to win more contacts to trade oil and derivatives and to win better prices on those contracts, among other things.

Investigators said they have evidence that at least 160 trading operations were affected by the scheme, and there is much more to be uncovered. Glencore, Trafigura and Vitol will face legal repercussions in other jurisdictions, they said.

"The early stages of the investigation are revealing only the tip of the iceberg," said prosecutor Athayde Ribeiro Costa, during a press conference in the Brazilian city of Curitiba, where Operation Car Wash is based. "The main executives of the trading companies had total and unmistakable knowledge" of the deals, Mr. Costa added.

The bribes were paid to executives of the marketing and trading department and the illicit deals were carried out by Petrobras workers in the company's Houston and Rio de Janeiro offices, according to prosecutors. Bribes were also paid to win contracts to store oil, they said.

Petrobras, which has changed its top management and implemented new ethics and compliance programs since the Car Wash probe began in 2014, has been cooperating with Brazilian investigators in the probe, turning over documents and other materials, according to prosecutors.

"This is important because it shows the company wants to help Brazilian authorities resolve these crimes," said Mr. Costa.

Allegations that the commodity trading houses used corrupt middlemen in dealings with Petrobras emerged in November in a report by London watchdog Global Witness. Glencore, in response to the report's allegations, denied wrongdoing. Vitol said in response to the report that it has a "zero tolerance policy in respect of bribery and corruption."

Global Witness investigator Daniel Balint-Kurti said the three trading firms "have a history of dealing with unsavory middlemen around the world."

Car Wash began as a probe of bribes paid to Petrobras employees by Brazilian construction companies that won contracts with the oil producer in return. Investigators found that part of the illicit cash generated by the scheme was delivered to politicians, who used the money to fund political campaigns, among other things.

Prosecutors jailed dozens of executives from the companies involved and named scores of politicians who allegedly benefited from the payments. The scandal weakened former President Dilma Rousseff and contributed to her being impeached and removed from office in 2016.

It also boosted the campaign of President-Elect Jair Bolsonaro, who in October won the country's presidential election with a strong law-and-order campaign.

Write to Jeffrey T. Lewis at [e-mail], Scott Patterson at [e-mail] and Luciana Magalhaes at [e-mail]



(END) Dow Jones Newswires

December 05, 2018 10:04 ET (15:04 GMT)

[maywillow] 05/12/2018 15:28

George HW Bush’s funeral: Here’s a rundown of the financial markets that are open and closed
Published 3 hours ago | Updated an hour ago
Matthew J. Belvedere
@Matt_Belvedere




GP: Former President George H.W. Bush lies in State at the U.S. Capitol Rotunda
Former president George H.W. Bush lies in State at the U.S. Capitol Rotunda on Capitol Hill on Monday, Dec. 03, 2018 in Washington, DC.
Jabin Botsford | The Washington Post | Getty Images

As the nation remembers George Herbert Walker Bush, the New York Stock Exchange and Nasdaq are closed Wednesday, with stock trading resuming Thursday on a normal schedule. The U.S. Treasury market is also closed Wednesday.

The ADP jobs data, normally released on Wednesdays, and the Labor Department’s productivity report are postponed until Thursday. Federal Reserve Chairman Jerome Powell’s testimony to the Joint Economic Committee of Congress has also been postponed.

Trading in energy and metals futures are open for their normal hours Wednesday.

Wednesday is a National Day of Mourning in honor of Bush, the country’s 41st president.

A state funeral for Bush, who died Friday at 94, will be held Wednesday morning at Washington National Cathedral. The last presidential funeral was in 2007 for Gerald Ford.

U.S. stock index futures are open until 9:30 a.m. ET, and reopening Wednesday evening at 6 p.m. ET as normal.

Equity futures were higher Wednesday morning after the Dow Jones Industrial Average tanked nearly 800 points, or 3 percent, on Tuesday in the biggest decline since the October rout as investors worried about a bond-market phenomenon signaling a possible economic slowdown. Lingering worries around U.S.-China trade also added to the jitters. The Dow and S&P 500 were able to stay out of a correction, but Tuesday’s decline sent the Nasdaq back into correction territory.

The massive sell-off on Wall Street spilled over into global markets, with stocks in Asia and Europe mostly in the red Wednesday morning.

[maywillow] 05/12/2018 15:22

waldron
4 Dec '18 - 08:02 - 206 of 223
0 2 0





20/11/2018 Broker: Deutsche Bank Rating: Buy Old Target: GBX 450.00 Maintain

19/11/2018 Broker: JP Morgan Rating: Neutral Old Target: GBX 340.00 New Target: GBX 340.00 Maintain

19/11/2018 Broker: Barclays Capital Rating: Overweight Old Target: GBX 400.00 Maintain

07/11/2018 Broker: UBS Rating: Neutral Old Target: GBX 360.00 Maintain

07/11/2018 Broker: Liberum Capital Rating: Hold Old Target: GBX 300.00 Maintain

31/10/2018 Broker: HSBC Rating: Buy Old Target: GBX 420.00 New Target: GBX 450.00 Maintain

31/10/2018 Broker: RBC Capital Markets Rating: Outperform Old Target: GBX 350.00 Maintain