Investec warns miners’ values could evaporate as Ivan Glasenberg’s commodity firm falls as low as 78p – an almost 85% collapse since 2011 flotationShares in the embattled commodities group Glencore gain slumped to another record low as the investment bank Investec warned the value of the company could “evaporate”.
Shares of the miner and commodity trader,which is run by the billionaire Ivan Glasenberg, dropped as low as 78p at one stage, or a tumble of almost 20%. The price has collapsed by 85% since the company was floated on the London stock exchange in 2011,at 530p a share. Related: Glencore finds itself caught off balance Continue reading...
Source: theguardian.com