Glencore's Energy Coal Output Offset Weaker Zinc Performance -- Market Talk

Dow Jones10-30

0818 GMT - Glencore reported stronger volumes than expected from in energy coal division which offset a weaker performance at the zinc and steelmaking-coal assets, RBC Capital Markets analysts write in a research note. They expect the market to react neutrally and estimate that full-year Ebitda consensus expectations will increase by 1% following the report. RBC continues to see material upside and expect the Anglo-Swiss commodity trader to outperform over the coming twelve months driven by an outperformance in its commodity basket and shareholder distributions. Shares are up 1.4% at 4.10 pounds. (christian.moess@wsj.com)

(END) Dow Jones Newswires

October 30, 2024 04:18 ET (08:18 GMT)

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RBC continues to see material upside and expect the Anglo-Swiss commodity trader to outperform over the coming twelve months driven by an outperformance in its commodity basket and shareholder distributions. Shares are up 1.4% at 4.10 pounds. 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