Glencore's Production Comes In-Line with Views While Marketing Beats
Dow Jones07-29
0740 GMT - Glencore's second-quarter production was in line with expectations while marketing beat views, Barclays analyst Ian Rossouw writes. A strong marketing performance looks set to deliver a first-half Ebitda of around $10 billion, which is 1% ahead of Barclays' prior expectations, he writes. The commodity giant expects marketing to report a first-half adjusted Ebit of around $3.3 billion. This is much stronger than the $2.9 billion Barlcays had expected, he adds. Shares rise 4.4% to 528,80 pence.
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