Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Glencore    GLEN   JE00B4T3BW64

GLENCORE

(GLEN)
  Report  
Delayed Quote. Delayed London Stock Exchange - 09/19 11:35:26 am
254.3 GBp   +0.51%
09/19GRAIN HIGHLIGHTS : Top Stories of the Day
DJ
09/19LIVESTOCK HIGHLIGHTS : Top Stories of the Day
DJ
09/19Glencore Joins Efforts to Modernize Agribusiness Shipping -- Market Talk
DJ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Former Xstrata chief Davis eyed for Rio Tinto chairman's job - FT

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/14/2017 | 03:53am EDT
Xstrata CEO Davis leaves after an extraordinary shareholder meeting in Zug

SYDNEY (Reuters) - Rio Tinto (>> Rio Tinto Limited) (>> Rio Tinto) investors gave a mixed reaction to a report that former senior mining executive Mick Davis, now chief executive of Britain's ruling Conservative Party, was well-placed to become the Anglo-Australian miner's next chairman.

SYDNEY (Reuters) - Rio Tinto (>> Rio Tinto Limited) (>> Rio Tinto) investors gave a mixed reaction to a report that former senior mining executive Mick Davis, now chief executive of Britain's ruling Conservative Party, was well-placed to become the Anglo-Australian miner's next chairman.

The Financial Times newspaper reported late on Monday that Davis, the former head of Xstrata and architect of a $62 billion deal that saw it absorbed by Rio rival Glencore PLC (>> Glencore) in 2012, has emerged as a frontrunner for the post.

The South African-born businessman has held talks with Rio over the position, the newspaper said, citing unidentified people familiar with the matter.

Rio, due to name a successor to current chairman Jan du Plessis by the end of the year, declined to comment.

Shares in Rio closed nearly 1 percent lower in Sydney, in line with the benchmark ASX 200 index <.AXJO>, as investors digested the potential implications of the appointment.

"The culture at Xstrata was less measured and more entrepreneurial than Rio's," said a Sydney-based fund manager, whose group owns Rio stock. He declined to be named as he wasn't authorised to discuss the matter with media. "It's hard to say if that approach would go down (well) there (at Rio)."

But Davis' entrepreneurial ability - lauded by British Prime Minister Theresa May in confirming his appointment as Conservative Party chief in June - was welcomed elsewhere in the market.

"He has the relevant profile and skill set for the job," said Brenton Saunders, a portfolio manager at BT Investment Management, which owns Rio stock.

Rio's search for a new chair has been disrupted by unwelcome events.

John Varley, the non-executive director tasked with leading the search for a replacement for du Plessis, resigned the Rio board of in June after he was charged in Britain with fraud while chief executive of Barclays (>> Barclays).

Meanwhile, the U.S. Securities Exchange Commission in October charged Rio and two of its former top executives with fraud, saying they inflated the value of Mozambique coal assets and concealed critical information while tapping the market for billions of dollars.

The two former executives deny the charges, and Rio said it would defend itself vigorously against the SEC's allegations.

Amid the challenges facing Rio's management, some investors questioned whether Davis' leadership style would be the right fit for the miner.

"Davis is a very astute dealmaker, but whether that can be transferred into an effective chairman is untested," said a Sydney fund manager holding Rio stock, who declined to be named given the sensitivity of the issue.

(Reporting by James Regan; Additional reporting by Sonali Paul in MELBOURNE; Editing by Richard Pullin and Kenneth Maxwell)

By James Regan

Stocks treated in this article : Rio Tinto Limited, Glencore, Barclays, Rio Tinto
Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC 1.36% 150.3 Delayed Quote.-0.03%
GLENCORE 0.51% 254.3 Delayed Quote.-12.72%
RIO TINTO LIMITED 0.13% 93.04 End-of-day quote.18.07%
RIO TINTO PLC -0.33% 4259.5 Delayed Quote.13.93%
S&P/ASX 200 0.31% 6737.7 Real-time Quote.18.58%
VALUE8 N.V. 0.36% 5.56 Delayed Quote.17.30%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GLENCORE
09/19GRAIN HIGHLIGHTS : Top Stories of the Day
DJ
09/19LIVESTOCK HIGHLIGHTS : Top Stories of the Day
DJ
09/19Glencore Joins Efforts to Modernize Agribusiness Shipping -- Market Talk
DJ
09/19Glencore Joins Efforts to Modernize Agribusiness Shipping -- Market Talk
DJ
09/19Glencore joins grain merchants' digital project
RE
09/12GLENCORE : H2 Distribution-determination of currency amounts
PU
09/12LONDON MARKETS: FTSE 100 Struggles Higher; Miners Lifted On Signs Of Trade-wa..
DJ
09/06LONDON STOCK EXCHANGE : China stimulus plan lifts FTSE 100; G4S boosts mid-caps
RE
09/05Petrobras unit head removed amid bribery allegations
RE
09/05EXCLUSIVE : Middleman implicates top executives at Vitol, Trafigura in alleged b..
RE
More news
Financials (USD)
Sales 2019 217 B
EBIT 2019 4 872 M
Net income 2019 1 382 M
Debt 2019 33 399 M
Yield 2019 5,32%
P/E ratio 2019 22,7x
P/E ratio 2020 11,3x
EV / Sales2019 0,35x
EV / Sales2020 0,32x
Capitalization 42 609 M
Chart GLENCORE
Duration : Period :
Glencore Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GLENCORE
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 3,56  $
Last Close Price 3,18  $
Spread / Highest target 90,8%
Spread / Average Target 11,8%
Spread / Lowest Target -57,1%
EPS Revisions
Managers
NameTitle
Ivan Glasenberg Chief Executive Officer & Executive Director
Anthony Bryan Hayward Non-Executive Chairman
Steven F. Kalmin Chief Financial Officer
Peter Roland Coates Non-Executive Director
Leonhard Heinrich Fischer Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
GLENCORE-12.72%42 463
CHINA SHENHUA ENERGY COMPANY LIMITED9.80%52 618
COAL INDIA-17.92%16 657
SHAANXI COAL INDUSTRY CO LTD22.04%12 800
CHINA COAL ENERGY COMPANY6.88%8 158
YANZHOU COAL MINING CO LTD28.59%6 875