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LON100:GLEN, May 20, 11:16 UTC

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Friday, May 18


News

LONDON MARKET CLOSE: FTSE 100 Posts Eighth Weekly Gain; Glencore Slips

GLEN

LONDON MARKET CLOSE: FTSE 100 Posts Eighth Weekly Gain; Glencore Slips. The mid-cap index hit a fresh record high of 21,057.73 in morning trade.The AIM All-Share closed up 0.3%, or 3.35 points, at 1,088.60, ending the week up 0.6%.The Cboe UK 100 ended down 0.1% at 13,194.96, the Cboe UK 250 closed down 0.1% at 19,215.65, and the Cboe UK Small Companies ended up 0.2% at 12,888.89.In European equities on Friday, the CAC 40 in Paris ended down 0.1%, while the DAX 30 in Frankfurt closed down 0.3%.In European data on Friday, Eurostat showed the eurozone trade surplus increased in March from a month before as exports grew faster than imports.The seasonally adjusted trade surplus rose to EUR21.2 billion in March from EUR20.9 billion in February. Q2 and Q3 could thus be make or break," said Michael van Dulken, head of research at Accendo Markets.Vodafone closed down 1.5% after Citigroup cut the telecommunications firm to Neutral from Buy.It was a better session for FTSE 100-listed DS Smith, closing up 2.0%.Davy raised the paper and packaging firm to Overweight from Neutral, believing the stock is set to benefit from an improving European packaging dynamics.In the FTSE 250, outsourcer Capita gained 6.5% after JPMorgan late Thursday raised the stock to Overweight from Neutral.NEX Group closed flat after shareholders approved the proposed GBP3.90 billion takeover of the company by US-based exchange operator CME Group.Towards the other end of the index, Grainger closed down 3.4% after Barclays cut the property investment company to Equal Weight from Overweight. At that price, the sale raised GBP237.5 million.Elsewhere on the Main Market, Carpetright closed up 11% at 37.00p after after it confirmed it has begun a previously planned fundraise worth GBP60.0 million as part of a company voluntary arrangement.Carpetright is placing 232.5 million new shares at a price of 28.00 pence each, a 16% discount to its closing price on Thursday of 33.25p.The company said GBP6.0 million of this will cover CVA costs, GBP12.5 million the repayment of the principal for a loan secured from shareholder Meditor, and GBP33.0 million will fund its capital expenditure plans.

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iii.co.uk lse.co.uk
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News

Glencore shares fall on SFO probe fears

GLEN

Shares in London-listed mining giant Glencore have fallen 7% following a report of a potential investigation into its actions in Africa. Glencore said it could not comment on a Bloomberg report that it may face an investigation into allegations of bribery linked to its operations in Democratic Republic of Congo. The Bloomberg report said SFO investigators were preparing to seek permission for a full investigation into Glencore's dealings with Israeli billionaire Dan Gertler and the leader of DRC Joseph Kabila. Mr Gertler already faces sanctions by the US due to alleged corruption in the DRC. When the US Office of Foreign Assets Control imposed sanctions on the billionaire in December it said he had deprived the developing country's coffers of funds.

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Social Chatter

Glencore PLC (LON100:GLEN) social chatter is higher than usual

GLEN
MUST READ: The U.K. white-collar crime prosecutor is preparing to open a formal bribery investigation into Glencore… https://t.co/Q4UYWZjnzo
News

Glencore declines comment on report of UK bribery probe

GLEN

Glencore declines comment on report of UK bribery probe. LONDON, May 18 (Reuters) - Glencore (Frankfurt: 8GC.F - news) on Friday said it could not comment on a report by Bloomberg that it may face an enquiry from Britain's Serious Fraud Office into allegations of bribery linked to its operations in Democratic Republic of Congo. Glencore's share price traded around 6 percent lower after the Bloomberg report. No-one at the SFO was immediately available for comment. What to read next.

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Glencore to Face U.K. Bribery Probe Over Congo Dealings

GLEN

Bloomberg. Glencore to Face U.K. Bribery Probe Over Congo DealingsBloomberg News. May 18, 2018, 8:19 AM EDT. Commodities giant Glencore Plc may face a formal bribery probe in the U.K. over its dealings in the Democratic Republic of Congo, Bloomberg News reports. Before it's here, it's on the Bloomberg Terminal.LEARN MORE.

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News

Glencore May Face U.K. Bribery Probe Over Congo Dealings

GLEN

The U.K.’s white-collar crime prosecutor is preparing to open a formal bribery investigation into Glencore Plc and its work with Israeli billionaire Dan Gertler and the leader of Democratic Republic of Congo, according to two people with knowledge of the matter. Investigators at the Serious Fraud Office plan to seek formal approval for a full probe into Glencore’s dealings in Congo, said the people, who declined to be identified because the matter isn’t public. Since Glencore is based in Switzerland, the prosecutor would have to show it has jurisdiction because the company’s shares are traded in London. The SFO has been scrutinizing the men’s relationship with a Kazakh mining company for six years. While Congolese officials have described the sanctions as unjust, Gertler hasn’t commented on them. Glencore is also fighting Gertler over royalties he says the company still owes after they parted ways. And Glencore’s state-owned partner in Congo is trying to dissolve a local operation, saying Glencore has overburdened it with debt.

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Wednesday, May 16


News

Sky deputy chairman to focus on broadcaster’s takeover as Glencore grants him leave of absence

GLEN FOX +1 more GLEN FOX SKY

Gilbert, who is also the co-chief executive at Standard Life Aberdeen PLC (LON:SLA), will return to his role at Glencore in mid-October, the miner said in a stock market announcement. “Owing to his current commitment as deputy chairman of Sky in respect of its protracted competitive bid situation, the board has granted to Martin Gilbert a leave of absence as Director until mid-October 2018.”READ: Sky pulls recommendation for Fox takeover bid. Sky is in the middle of a complex takeover battle, with 21st Century Fox Inc (NASDAQ:FOXA) and Comcast Corp (NASDAQ:CMCSA) both lodging formal bids. Should the Fox deal get the green light from the government and Sky’s shareholders, it is expected that Sky will be transferred to Disney, assuming that takeover gets the go-ahead as well.

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Tuesday, May 15


Social Chatter

Glencore PLC (LON100:GLEN) social chatter is higher than usual

GLEN
Putin confident Glencore, Qatar will develop Rosneft's Russia oil business https://t.co/978vkGotAD via @FinancialReview @zaptrapped @worldflood1

Monday, May 14


Social Chatter

Glencore PLC (LON100:GLEN) social chatter is higher than usual

GLEN
The whole #Rosneft deal is SHADY. Glencore put in €300 million (<3% of the total). Italian bank Intesa SanPaolo len… https://t.co/mFr6WecCpw
News

Barrick, Glencore Expect to Get License for Tanzanian Project

GLEN

Executives at Barrick Gold Corp. and Glencore Plc expect to receive a new license for their joint venture Kabanga nickel project in Tanzania, having held “productive” talks with the government during the past several months, Barrick said Sunday. Reuters reported earlier that Tanzania revoked a retention license for the Kabanga nickel asset, as well as 10 other retention licenses for nickel, gold, silver, copper and rare-earth exploration companies. Retention licenses act as placeholders for mining companies that want to hold the rights to a deposit, even if they are not planning to immediately develop it. Barrick’s majority-owned Acacia Mining Plc has been hit hard by the changes -- which included a $190 billion tax bill -- and has said it would consider selling a stake in some, or all, of its gold mines in Tanzania.

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