Mar. 5, 2013, 8:37 AMGlencore (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) | Comment!
Aug. 7, 2012, 4:00 AMXstrata (XSRAF.PK) maintains that its $62B merger with Glencore is on track and should close in Q4, although the reiteration comes despite pressure from Xstrata shareholders to improve the deal. Meanwhile, Xstrata's H1 net profit -33% to $1.94B and revenue -7% to $15.55B. Company defers $1B of capital expenditure, joining the likes of of BHP, Rio Tinto and Vale in delaying investment. | Comment!
Feb. 8, 2011, 8:45 AM
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