Glencore scraps plan to move primary listing to New York
Bloomberg · Just In
Bloomberg
Just In
Glencore Plc scrapped plans to move its primary listing away from London and reported a fall in its first-half profits, weighed down by weak prices for some of its most important products.
Breakdown
- Glencore has decided not to move its primary listing to New York.
- The move was considered due to dissatisfaction with how European investors value Glencore's coal assets. 13s
- Risks included high costs and uncertainty over joining major U.S. indices. 38s
- Glencore announced a $1 billion cost-cutting plan but has not detailed specific measures. 1m 6s
- The company is under pressure to improve performance after its weakest first-half in five years. 1m 36s