The Glencore stock price jumped roughly 15% to 139.70 pence today (Friday) after the company drastically slashed its zinc production.
Zinc prices have fallen 30% in the last few months, prompting the production cut. Today's announcement sent zinc prices soaring more than 11% intraday to $1,850 per metric ton. That was the sharpest gain since at least 1989, according to Bloomberg.
While the Glencore stock price is climbing, the company is not out of the woods...
The Glencore stock price jumped roughly 15% to 139.70 pence today (Friday) after the company drastically slashed its zinc production.
Zinc prices have fallen 30% in the last few months, prompting the production cut. Today's announcement sent zinc prices soaring more than 11% intraday to $1,850 per metric ton. That was the sharpest gain since at least 1989, according to Bloomberg.
While the Glencore stock price is climbing, the company is not out of the woods...
The Glencore stock price opened up 15% at $109.15 pence in London Monday after a 72% intraday surge in Hong Kong as the battered company continues attempts to reassure investors its finances are solid.
Still, troubles remain for the mining and commodity trading giant.
Here's what you need to know....
The Glencore stock price was extremely volatile again today (Thursday) as investors remain concerned about the company's health and its industry prospects.
Shares of Glencore Plc. (LON: GLEN) jumped more than 8% intraday to a high of £99.17. But later in the session, the Glencore stock price gave back all those gains back and fell to £88.72.
Here's why the stock has even further to fall...
Glencore CEO Ivan Glasenberg lost $500 million Monday after the mining company's shares plummeted 29.42% after Investec's warning that weak commodity prices could lead to the firm's equity value being "eliminated."
And unfortunately for the Glencore CEO, the problems are still mounting.
Here's what investors need to know now...
