Unlike last year, when Glencore was oozing with confidence, this year’s Capital Markets Day smacked of restrain. Apart from narrowing the group’s trading profit guidance, a slew of (critical) management changes was announced. The management reshuffle may have been done to ease somewhat the extent of regulatory scrutiny. While the target of aggressive long-term output growth remains, the eventual outcome of the (regulatory) investigations is critical.

04 Dec 2018
A cautious Capital Markets Day

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A cautious Capital Markets Day
Glencore plc (GLEN:LON) | 303 -10.1 (-1.1%) | Mkt Cap: 36,129m
- Published:
04 Dec 2018 -
Author:
Varun Sikka -
Pages:
4 -
Unlike last year, when Glencore was oozing with confidence, this year’s Capital Markets Day smacked of restrain. Apart from narrowing the group’s trading profit guidance, a slew of (critical) management changes was announced. The management reshuffle may have been done to ease somewhat the extent of regulatory scrutiny. While the target of aggressive long-term output growth remains, the eventual outcome of the (regulatory) investigations is critical.