Glencore share price rises as stock shrugs off South Africa smelter warning, coal outlook firms
Glencore Plc shares rose 1.08% to 523.8 pence in London on Friday, outperforming the FTSE 100. Its South African ferrochrome unit warned up to 1,500 jobs could be lost if discounted-power talks with Eskom fail by March 31. Morningstar raised Glencore’s fair value estimate 6% to 530 pence this week, citing stronger coal prices. CEO Japie Fullard said current tariff terms were unacceptable.
