LONDON, March 19, 2026, 13:14 GMT
Glencore shares fell about 4.2% in London on Thursday, slipping to 503.7 pence by 12:40 GMT as selling spread through miners and other stocks tied to global growth. The stock was down 22.2 pence from its previous close, company and exchange data showed. 1
The move matters because Glencore had gone into the session close to a one-year high. Financial Times market data showed the stock ended Wednesday at 525.9 pence, just 3.77% below its 52-week peak of 546.5 pence set on March 2. 2
Thursday’s reversal came as copper slid to its lowest level in three months and London’s metal miners fell 7.2%, while Europe’s mining index shed 5%. The Bank of England then kept rates on hold and markets swung from expecting cuts to pricing in as many as two quarter-point rises by year-end, adding to pressure on stocks tied to the economic outlook. 3
“There is not enough money and confidence right now to drag markets upward,” Michael Field, Morningstar’s chief European equity strategist, said as European shares fell. Lee Hardman, senior currency analyst at MUFG, said the Bank’s message was “more hawkish than the market had been anticipating.” 4
The weakness was broad. Rio Tinto, Anglo American and Antofagasta were all lower in London trade, underscoring that Glencore’s drop was part of a wider retreat across mining names. 5
The selloff landed a month after Glencore pledged a $2 billion shareholder return despite lower annual earnings. On its website, the company describes itself as one of the world’s largest diversified natural resource groups. 6
That mix has not insulated the shares from the latest jump in energy costs and rate fears. Bank of England Governor Andrew Bailey flagged rising fuel and energy costs as a risk if the Middle East conflict persists, and Schroders economist David Rees said current oil and gas prices were already enough to add “around 1%” to overall inflation in the coming months. 7
That leaves a clear downside scenario for the stock: if the dollar stays firm and copper stays weak, miners such as Glencore may remain under pressure even with oil prices elevated. Reuters reported on Thursday that copper had fallen to a three-month low, while U.S. markets were already pushing the next full rate cut out to 2027. 3
The contrast inside the FTSE 100 was stark: energy stocks rose 0.9% to a record high even as the main index fell 1.9%, but metal miners were among the day’s worst performers. By early afternoon, Glencore was firmly in that camp. 8
