London, Feb 23, 2026, 08:36 GMT — Regular session
- Glencore shares up about 0.4% in early London trade, at 508.8p
- Copper firms as the dollar slips on fresh U.S. tariff uncertainty
- Next focus: Glencore Q1 production report on April 30; June and September cash distribution instalments
Glencore plc (GLEN.L) shares rose 0.4% to 508.8 pence by 0810 GMT on Monday, according to the company’s share-price feed. (Glencore)
The move comes as markets reopen in Europe with investors still digesting a weekend of tariff confusion that knocked the dollar and pushed Wall Street futures lower in Asian trade. (Reuters)
For Glencore, the backdrop matters because commodities are priced in dollars and small currency swings can move the metal complex. The miner last week announced a $2 billion shareholder return with its 2025 results. (Reuters)
Copper held firmer in Asia, with benchmark LME copper up 0.2% at $12,978.50 a tonne by 0309 GMT after touching a more than one-week high. “Base metals are quietly benefiting … but that is mostly due to the dollar’s slide,” Tim Waterer, chief market analyst at KCM Trade, told Reuters; China’s Shanghai Futures Exchange is set to reopen on Feb. 24 after the Lunar New Year break. (Business Recorder)
In its full-year statement, Glencore said adjusted EBITDA — its profit measure before interest, tax, depreciation and amortisation — slipped 6% to $13.51 billion in 2025, while revenue rose 7% to $247.5 billion. Chief Executive Gary Nagle cited “clear momentum for our copper-led growth strategy” as the company targeted about 1.6 million tonnes of copper production by 2035, and it said its 17-cent-per-share cash distribution is intended to be paid in two equal instalments in June and September. (Glencore)
Glencore closed at 507 pence on Friday, up 0.4% on the day, Yahoo Finance data showed. (Yahoo Finance)
The shares jumped 4.4% on Feb. 18 after the results and payout plan, while copper-linked peers Antofagasta and Anglo American also climbed as the FTSE 100 closed at a record, Reuters reported. (Reuters)
Coal remains the swing factor. Glencore said last week that “energy and steelmaking coal continued to face a more subdued environment” as well‑supplied markets and geopolitical uncertainty hit sentiment. (Reuters)
But tariff headlines can cut both ways: a weaker dollar can lift commodities, while policy lurches can hit growth expectations and metal demand. Trump said on Saturday he would raise a temporary tariff on all U.S. imports to 15%, setting up more volatility into the week. (Reuters)
Next on the calendar is Glencore’s first-quarter production report on April 30, followed by its annual general meeting on May 28. (Glencore)
