Global Wrap: Glencore, Randgold and more

IN Global Wrap: results from Glencore and Randgold; Ivanhoe secures funds; and Nevsun evaluating proposals after rejecting Lundin offer.

Global Wrap: Glencore, Randgold and more Global Wrap: Glencore, Randgold and more Global Wrap: Glencore, Randgold and more Global Wrap: Glencore, Randgold and more Global Wrap: Glencore, Randgold and more

Glencore had a record first half, with its industrial and trading businesses boosting net income and EBITDA to US$2.8 billion and a record $8.3 billion respectively.

Higher commodity prices, volume growth and a focus on cost and "asset optimisation" helped the industrial adjusted EBITDA increase 26% to $6.7 billion, the company said.

Adjusted EBIT for the marketing division was 12% higher on the year at $1.5 billion, with Glencore attributing this to "generally constructive market conditions across our metals and energy segments", which were slightly offset by a weaker performance from agricultural products.

It said full-year performance marketing adjusted EBIT was expected to be within the top half of the long term $2.2-3.2 billion EBIT ...

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