Tags: EU | Glencore | Share Price

Glencore Shares Bounce Back but Have a Way to Recoup Losses

Tuesday, 29 September 2015 05:23 AM EDT

LONDON (AP) — Shares in commodities group Glencore have bounced back but still have a long way to go before recouping all the previous day's losses.

In early trading Tuesday, the share price of the Switzerland-based company was up 7.1 percent at 73 pence.

On Monday, Glencore's share price slid by 29 percent after an investment bank warned over the company's ability to service its sky-high debts at a time when earnings are battered by low commodity prices.

In a note to clients, Investec Securities said Glencore could end up "solely working to repay debt obligations" if commodity prices don't recover.

That warning prompted a savage sell-off of Glencore's share price, which at one stage fell to an all-time low of 67 pence.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
Shares in commodities group Glencore have bounced back but still have a long way to go before recouping all the previous day's losses.In early trading Tuesday, the share price of the Switzerland-based company was up 7.1 percent at 73 pence.On Monday, Glencore's share price...
EU,Glencore,Share Price
122
2015-23-29
Tuesday, 29 September 2015 05:23 AM
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