Citi has raised its price target for Glencore PLC (LSE:GLEN) to 780p, naming the commodities group its top large-cap pick as another standout performance from its marketing arm strengthens the investment case. Attention is now shifting towards growth, Citi highlighted in a note, with Glencore increasing capital expenditure behind a copper strategy targeting a doubling of production over the nex...
Panumre Liberum argue that copper offers gold's inflation protection, plus an industrial-backed demand growth story, as well as a relative immunity to movements in interest rates.
Glencore's exposure to Radiant World, a company with which the London-listed miner and trader has stopped doing new business, amounts to more than half a billion dollars, two sources familiar with the matter told Reuters.
Glencore's planned secondary listing in Australia signals a push to tap one of the world's fastest-growing pools of institutional capital to fund its copper growth ambitions and potentially pave the way for transformational M&A.
Glencore earned 66 times more from energy trading in the first half of 2026 than it did a year earlier, joining other major commodity traders profiting from market turmoil created by the Iran war.
Glencore has taken some provision in its books relating to Radiant World, the Swiss miner and trading house's CEO said on Wednesday, but added that its exposure to the iron ore trader was not material.
Glencore PLC (LSE:GLEN) reported an 86% jump in first-half earnings and announced an additional $1.5 billion of shareholder returns as it enjoyed a boost from higher commodity prices and volatile energy markets. Underlying profit (adjusted EBITDA) rose to $10.11 billion from $5.43 billion a year earlier, on revenue that increased 49% to $174.4 billion.