05/03/13 15:17 CET
| updated xx mn ago
| updated at xx
Glencore’s net income fell by a quarter last year due to lower prices for commodities, but it made more money from trading so did not suffer as much as some rivals.
That modest drop was important as Glencore is just a month away from its takeover of miner Xstrata – which will make it the world’s fourth-largest diversified mining company.
The company said nothing about what assets it might dispose of after the merger.
The market has been keenly awaiting a roadmap for the combined Glencore-Xstrata and had hoped that Glencore would expand on its post-takeover strategy as it announced the latest results.
Glencore’s net income fell 25 percent to $3.06 billion (2.35 billion euros), which was in line with expectations.
Xstrata, reporting separately from Glencore for what should be the last time before the two merge, wrote down the value of nickel, zinc and platinum assets, dragging its net profit almost 80 percent lower.
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2International news | euronews, latest international news
- 3Hope vs harsh reality: challenges to global education goals in the 21st century
- 4Madrid to appeal Catalan road to independence from Spain
- 5Thousands in Bucharest blame corruption for Friday’s nightclub blaze
- 6Jorge Lorenzo clinches his third MotoGP title in Valencia
- 7Turkey: Explosion hits Istanbul’s main tourist district
- 8Paris: “I would rather see my brother in prison than in a cemetery”
- 9Extras : euronews : the latest international news as video on demand
- 10Partnering to grow Europe
- 11Macedonian Postcards: The Mavrovo National Park
- 12Moldova: protesters storm Parliament
- 13Benzema questioned in French sex tape case
- 14Business news and finance news | euronews: international economic and finance news
- 15Brussels remains on high alert: ‘multiple operations underway’ across Belgium
- 16Special Reports : euronews : the latest international news as video on demand
- 17Norway sends Syrian refugees back to Russia
- 18smart care - All Programmes | euronews : the latest international news as video on demand
- 19latest Learning World - All Programmes | euronews : the latest international news as video on demand
- 20Meet Bernie Sanders, the democratic socialist who wants to be US president
LinkedIn shares plunge on weak earnings and profit forecast
ArcelorMittal share issue to counter falling profits from cheap Chinese steel
Credit Suisse write-offs hit profit, drag down shares
ChemChina bids for Syngenta to improve Chinese food production
Oil price slump hits BP and Exxon
Wires > Business
- 20:35 CET Seven countries call for EU action to help steel industry
- 20:22 CET Investors cheer Argentina’s swift offer to holdouts
- 01:36 CET Exclusive: Pentagon’s budget plan funds 404 Lockheed F-35 jets -…
- 01:08 CET BlackBerry cuts 200 jobs in Ontario and Florida to trim costs
- 23:04 CET New Jersey sues VW over excess diesel emissions
- 22:39 CET Global stocks fall after U.S. jobs report muddles Fed outlook
- 22:12 CET 1957 Ferrari racing car sold at auction for record $35.6 million
- 21:46 CET Eurosytem financial assets grew by 5 percent per year since 2002 -…