Century Aluminum (CENX) shares slumped 13% in recent trading Tuesday, marking their sharpest decline in seven months, after top investor Glencore sold 9 million shares in a $276 million block trade, Bloomberg reported, citing people familiar with the matter.
The shares were sold at $30.65 each, about 5% below Monday's close, trimming Glencore's stake by 9.6%. Glencore was Century's largest shareholder, holding around 40 million shares, or roughly 43%, before the sale, Bloomberg said.
Century Aluminum didn't immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 28.10, Change: -4.22, Percent Change: -13.05
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