Group’s market value has now shrunk by 87% since the company was floated on the London stock exchange in 2011 at 530pThe embattled commodities group Glencore has suffered one of the worst trading days ever for a FTSE 100 company,as its shares slumped to another record low on the back of concerns approximately the Chinese economy and warnings from a major investment bank that the value of the company could “evaporate”.
Shares in the miner and commodity trader, which is run by the billionaire Ivan Glasenberg, and dropped by 29% to 68.62p – a daily share price fall that rivals losses suffered by banks and technology companies during their respective sector crashes in the preceding decade. Related: Glencore finds itself caught off balance Continue reading...
Source: theguardian.com