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Glencore (GLCNF.PK) and Xstrata (XSRAF.PK) each reported preliminary 2012 financial results (I,...

Glencore (GLCNF.PK) and Xstrata (XSRAF.PK) each reported preliminary 2012 financial results (I, II). Like most of their peers, the companies reported lower earnings and big writedowns amid lower prices for most commodities. At Glencore, its commodity trading business helped offset the price weakness, and its adjusted profit which fell 25% Y/Y beat analysts estimates. (earlier)
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