Saudi Aramco’s first-half net income falls 12% to $47 billion

An Aramco oil tank is seen at the Production facility at Saudi Aramco’s Shaybah oilfield in the Empty Quarter, Saudi Arabia. Saudi Aramco, the world’s top oil producer, reported first-half net income of $46.9 billion on Monday, down from $53.02 billion a year earlier. By comparison, Apple Inc, the world’s most profitable listed company, made $31.5 billion in the first six months of its financial year. In its earnings report, Aramco partly attributed the decline in net income to a 4% fall in the


An Aramco oil tank is seen at the Production facility at Saudi Aramco’s Shaybah oilfield in the Empty Quarter, Saudi Arabia. Saudi Aramco, the world’s top oil producer, reported first-half net income of $46.9 billion on Monday, down from $53.02 billion a year earlier. By comparison, Apple Inc, the world’s most profitable listed company, made $31.5 billion in the first six months of its financial year. In its earnings report, Aramco partly attributed the decline in net income to a 4% fall in the
Saudi Aramco’s first-half net income falls 12% to $47 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, saudi, income, company, 47, worlds, billion, 12, nasser, net, aramcos, firsthalf, aramco, crude, falls, oil


Saudi Aramco's first-half net income falls 12% to $47 billion

An Aramco oil tank is seen at the Production facility at Saudi Aramco’s Shaybah oilfield in the Empty Quarter, Saudi Arabia.

Saudi Aramco, the world’s top oil producer, reported first-half net income of $46.9 billion on Monday, down from $53.02 billion a year earlier.

By comparison, Apple Inc, the world’s most profitable listed company, made $31.5 billion in the first six months of its financial year.

Aramco said total revenues including other income related to sales were at $163.88 billion in the first half of this year, down from $167.68 billion a year earlier, on lower oil prices and reduced production.

In its earnings report, Aramco partly attributed the decline in net income to a 4% fall in the average realized price of crude oil compared to the same period in 2018, from $69 to $66 per barrel.

Aramco President and CEO Amin Nasser said the company had continued to deliver on its “downstream growth strategy” through acquisitions both domestically and in international markets.

“These acquisitions are expected to enhance dedicated crude placement, increase refining and chemicals capacity, capture value from integration and diversify our operations,” Nasser said.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, saudi, income, company, 47, worlds, billion, 12, nasser, net, aramcos, firsthalf, aramco, crude, falls, oil


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Huawei says its first-half revenue jumped 23.2% despite political headwinds

China’s Huawei reported a 23.2% year-over-year increase in revenue for the first six months of 2019 year despite facing political headwinds. The company said its total revenue came in at 401.3 billion yuan ($58.26 billion) and its net profit margin for the period was 8.7%. Huawei’s carrier business, which sells core networking equipment, reported 146.5 billion yuan in sales revenue. For its part, Huawei is considered to be one of the leading names in the race to develop the nascent 5G technology


China’s Huawei reported a 23.2% year-over-year increase in revenue for the first six months of 2019 year despite facing political headwinds. The company said its total revenue came in at 401.3 billion yuan ($58.26 billion) and its net profit margin for the period was 8.7%. Huawei’s carrier business, which sells core networking equipment, reported 146.5 billion yuan in sales revenue. For its part, Huawei is considered to be one of the leading names in the race to develop the nascent 5G technology
Huawei says its first-half revenue jumped 23.2% despite political headwinds Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-30  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, despite, firsthalf, jumped, company, reported, revenue, mobile, billion, yuan, 232, technology, headwinds, 5g, political, tech, huawei


Huawei says its first-half revenue jumped 23.2% despite political headwinds

China’s Huawei reported a 23.2% year-over-year increase in revenue for the first six months of 2019 year despite facing political headwinds.

The company said its total revenue came in at 401.3 billion yuan ($58.26 billion) and its net profit margin for the period was 8.7%. In a press release, the tech giant said its operations are “smooth” and that the “organization is as sound as ever.”

Huawei’s carrier business, which sells core networking equipment, reported 146.5 billion yuan in sales revenue.

To date, the company says it has secured 50 commercial 5G contracts with leading global telecommunication carriers. 5G refers to the fifth generation of high-speed mobile internet — it’s expected to be a major factor in the tech industry for years to come.

For its part, Huawei is considered to be one of the leading names in the race to develop the nascent 5G technology. But the company is facing mounting fears that its technology could enable Chinese espionage through those high-speed mobile networks. Huawei has repeatedly denied that its products represent any risk.

Still, countries like the United States, Australia, New Zealand and Japan have restricted the company’s participation in 5G development within their borders.


Company: cnbc, Activity: cnbc, Date: 2019-07-30  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, despite, firsthalf, jumped, company, reported, revenue, mobile, billion, yuan, 232, technology, headwinds, 5g, political, tech, huawei


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Nestle posts first-half organic growth of 3.6%

US growth could be weakest in more than two years but latest data… The economy is expected to have grown in the second quarter at the slowest pace in more than two years, but the data will have little bearing on the Fed when it holds its…Market Insiderread more


US growth could be weakest in more than two years but latest data… The economy is expected to have grown in the second quarter at the slowest pace in more than two years, but the data will have little bearing on the Fed when it holds its…Market Insiderread more
Nestle posts first-half organic growth of 3.6% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-26
Keywords: news, cnbc, companies, second, 36, posts, slowest, latest, firsthalf, growth, quarter, little, nestle, holds, insiderread, organic, pace, weakest, itsmarket


Nestle posts first-half organic growth of 3.6%

US growth could be weakest in more than two years but latest data…

The economy is expected to have grown in the second quarter at the slowest pace in more than two years, but the data will have little bearing on the Fed when it holds its…

Market Insider

read more


Company: cnbc, Activity: cnbc, Date: 2019-07-26
Keywords: news, cnbc, companies, second, 36, posts, slowest, latest, firsthalf, growth, quarter, little, nestle, holds, insiderread, organic, pace, weakest, itsmarket


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Julius Baer first-half adjusted net profit slumps to 391 million Swiss francs

A sign sits on a wall outside the offices of Julius Baer Group Ltd. in Geneva, Switzerland. Swiss private bank Julius Baer posted a 19% decline in adjusted net profit in the first six months of 2019 as tepid trading continued from its wealthy clients, a dip it nonetheless hailed as a pick-up from challenging conditions late last year. Julius Baer’s adjusted net profit was at 391 million Swiss francs ($397.52 million) in the first half of 2019 – a 19% drop on the year but an 18% increase compared


A sign sits on a wall outside the offices of Julius Baer Group Ltd. in Geneva, Switzerland. Swiss private bank Julius Baer posted a 19% decline in adjusted net profit in the first six months of 2019 as tepid trading continued from its wealthy clients, a dip it nonetheless hailed as a pick-up from challenging conditions late last year. Julius Baer’s adjusted net profit was at 391 million Swiss francs ($397.52 million) in the first half of 2019 – a 19% drop on the year but an 18% increase compared
Julius Baer first-half adjusted net profit slumps to 391 million Swiss francs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22
Keywords: news, cnbc, companies, net, million, francs, swiss, baer, adjusted, growth, months, julius, bank, 2018, slumps, half, firsthalf, profit


Julius Baer first-half adjusted net profit slumps to 391 million Swiss francs

A sign sits on a wall outside the offices of Julius Baer Group Ltd. in Geneva, Switzerland.

Swiss private bank Julius Baer posted a 19% decline in adjusted net profit in the first six months of 2019 as tepid trading continued from its wealthy clients, a dip it nonetheless hailed as a pick-up from challenging conditions late last year.

Switzerland’s third-largest listed bank has recently contended with negative interest rates, choppy markets, and risk-averse clients, as well as lackluster growth from its Italian subsidiary Kairos, which saw outflows in the first six months related to a decline in fund performance last year.

Julius Baer’s adjusted net profit was at 391 million Swiss francs ($397.52 million) in the first half of 2019 – a 19% drop on the year but an 18% increase compared with the second half of 2018.

“Profitability has markedly improved compared to the second half of 2018, as we saw client activity and asset valuations recover substantially,” outgoing chief executive Bernhard Hodler said.

“The cost-reduction program we initiated earlier this year is on track, and we will see its effects materialize in the coming months and throughout 2020, as targeted,” he added.

Hodler is due to be replaced by the bank’s current head of intermediaries and global custody, Philipp Rickenbacher, in September.

While Baer’s overall inflows have picked up since late 2018, margins have been under pressure.

In February the bank scaled back growth targets and announced large-scale cost cuts after a tough end to 2018 caused it to miss its goals.

It said on Monday the program, which aims to save around 100 million Swiss francs by cutting its workforce by around 2% and moving out of less attractive markets, was on track.

It is aiming to hit an adjusted cost-income ratio below 68% by 2020, an improvement on the 71.0% posted through June.

It brought in 6.2 billion Swiss francs in net new money, a 3.2% growth rate that was below its 4-6% target.


Company: cnbc, Activity: cnbc, Date: 2019-07-22
Keywords: news, cnbc, companies, net, million, francs, swiss, baer, adjusted, growth, months, julius, bank, 2018, slumps, half, firsthalf, profit


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Global miner BHP Group first-half profit falls 8% as copper earnings slump

The world’s biggest miner BHP Group said on Tuesday its first-half profit fell 8 percent as copper earnings slumped because of declining ore quality at its Escondida mine and a number of production outages globally. Underlying profit from continuing operations for the six months that ended on Dec. 31 fell to $4.03 billion from $4.40 billion a year ago, the company said in a statement. We have had quite a number of tax settlements in the half and that changes our tax bill somewhat,” Andrew Macken


The world’s biggest miner BHP Group said on Tuesday its first-half profit fell 8 percent as copper earnings slumped because of declining ore quality at its Escondida mine and a number of production outages globally. Underlying profit from continuing operations for the six months that ended on Dec. 31 fell to $4.03 billion from $4.40 billion a year ago, the company said in a statement. We have had quite a number of tax settlements in the half and that changes our tax bill somewhat,” Andrew Macken
Global miner BHP Group first-half profit falls 8% as copper earnings slump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: cnbccom with reuters, peter hendrie, photographers choice, getty images
Keywords: news, cnbc, companies, number, miner, slump, firsthalf, mackenzie, copper, line, group, bhp, profit, earnings, billion, global, fell, falls, tax


Global miner BHP Group first-half profit falls 8% as copper earnings slump

The world’s biggest miner BHP Group said on Tuesday its first-half profit fell 8 percent as copper earnings slumped because of declining ore quality at its Escondida mine and a number of production outages globally.

Underlying profit from continuing operations for the six months that ended on Dec. 31 fell to $4.03 billion from $4.40 billion a year ago, the company said in a statement. That missed consensus estimates compiled by Vuma Financial of $4.209 billion.

“Profit is often the most difficult thing for people to forecast. We have had quite a number of tax settlements in the half and that changes our tax bill somewhat,” Andrew Mackenzie, CEO of BHP Group, told CNBC’s Karen Tso on Tuesday.

“I would say, apart from earnings, this in line or slightly better in line than what peopled forecasted,” Mackenzie said.

Underlying profit is watched by analysts and investors as a measure of the company’s performance exclusive of one-time gains and losses.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: cnbccom with reuters, peter hendrie, photographers choice, getty images
Keywords: news, cnbc, companies, number, miner, slump, firsthalf, mackenzie, copper, line, group, bhp, profit, earnings, billion, global, fell, falls, tax


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Lloyd’s of London shrugs off 2017 loss with first-half profit

Lloyd’s of London, the insurance market that covers risks from oil rigs to soccer stars’ legs, said on Friday that it had returned to profit in the first half, following a 2017 loss brought on by a record year for catastrophes. The specialist insurance and reinsurance market reported a pretax profit of 600 million pounds ($795 million) in the first half, driven by improvements in pricing and growth in some profitable lines. Pretax profit in last year’s first half was 1.2 billion pounds. Lloyd’s


Lloyd’s of London, the insurance market that covers risks from oil rigs to soccer stars’ legs, said on Friday that it had returned to profit in the first half, following a 2017 loss brought on by a record year for catastrophes. The specialist insurance and reinsurance market reported a pretax profit of 600 million pounds ($795 million) in the first half, driven by improvements in pricing and growth in some profitable lines. Pretax profit in last year’s first half was 1.2 billion pounds. Lloyd’s
Lloyd’s of London shrugs off 2017 loss with first-half profit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-21  Authors: leon neal, afp, getty images, joshua roberts, david paul morris, bloomberg, source, megan leonhardt, duke energy via ap, disney abc television group
Keywords: news, cnbc, companies, firsthalf, shrugs, market, pretax, insurance, specialist, million, profit, london, loss, half, lloyds, 2017


Lloyd's of London shrugs off 2017 loss with first-half profit

Lloyd’s of London, the insurance market that covers risks from oil rigs to soccer stars’ legs, said on Friday that it had returned to profit in the first half, following a 2017 loss brought on by a record year for catastrophes.

The specialist insurance and reinsurance market reported a pretax profit of 600 million pounds ($795 million) in the first half, driven by improvements in pricing and growth in some profitable lines. Pretax profit in last year’s first half was 1.2 billion pounds.

Lloyd’s of London, that began life in Edward Lloyd’s coffee house in 1688, focused on cutting costs and improving its underwriting performance after a series of natural catastrophes pushed the specialist insurance market into a 2 billion pound annual loss in 2017, its first in six years.


Company: cnbc, Activity: cnbc, Date: 2018-09-21  Authors: leon neal, afp, getty images, joshua roberts, david paul morris, bloomberg, source, megan leonhardt, duke energy via ap, disney abc television group
Keywords: news, cnbc, companies, firsthalf, shrugs, market, pretax, insurance, specialist, million, profit, london, loss, half, lloyds, 2017


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Bouygues keeps outlook as telecoms arms improves

French conglomerate Bouygues posted a lower first-half operating profit on Thursday and kept its full year outlook for rising profitability amid renewed signs of improvement at is telecom division. Bouygues, which builds roads and owns France’s biggest private TV broadcaster TF1, said first-half current operating profit fell 12.7 percent to 303 million euros ($354.24 million). This reflected an already reported first quarter loss as poor weather conditions weighed on construction while profitabi


French conglomerate Bouygues posted a lower first-half operating profit on Thursday and kept its full year outlook for rising profitability amid renewed signs of improvement at is telecom division. Bouygues, which builds roads and owns France’s biggest private TV broadcaster TF1, said first-half current operating profit fell 12.7 percent to 303 million euros ($354.24 million). This reflected an already reported first quarter loss as poor weather conditions weighed on construction while profitabi
Bouygues keeps outlook as telecoms arms improves Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-30  Authors: philippe huguen, afp, getty images
Keywords: news, cnbc, companies, improves, bouygues, arms, profitability, profit, outlook, million, telecom, telecoms, sales, targets, operating, keeps, firsthalf, euros


Bouygues keeps outlook as telecoms arms improves

French conglomerate Bouygues posted a lower first-half operating profit on Thursday and kept its full year outlook for rising profitability amid renewed signs of improvement at is telecom division.

Bouygues, which builds roads and owns France’s biggest private TV broadcaster TF1, said first-half current operating profit fell 12.7 percent to 303 million euros ($354.24 million).

This reflected an already reported first quarter loss as poor weather conditions weighed on construction while profitability at Bouygues Telecom improved, the statement said.

First-half sales rose 4 percent to 15.743 billion euros.

According to a Bouygues poll of 13 analysts, the median forecasts included first-half sales of 15.413 billion euros and current operating profit of 284 million euros.

Bouygues kept its targets for higher profitability in 2018, and added that Bouygues Telecom was sticking to all its targets, including that of 300 million euros of free cash flow for 2019.


Company: cnbc, Activity: cnbc, Date: 2018-08-30  Authors: philippe huguen, afp, getty images
Keywords: news, cnbc, companies, improves, bouygues, arms, profitability, profit, outlook, million, telecom, telecoms, sales, targets, operating, keeps, firsthalf, euros


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Dutch payments firm Adyen first-half profit surges

Adyen CEO: Shareholders felt IPO was the right thing to do 2 Hours Ago | 03:52Adyen, the Dutch company which processes payments for Netflix and Facebook reported at 75 percent jump in first-half net profit, driven by existing and new customers including retailer eBay. Net profit in the first half rose to 48.2 million euros ($55.1 million), up 75 percent from a year ago. Sales soared 67 percent to 156.4 million euros. The total volume of transactions processed by the company grew by 43 percent to


Adyen CEO: Shareholders felt IPO was the right thing to do 2 Hours Ago | 03:52Adyen, the Dutch company which processes payments for Netflix and Facebook reported at 75 percent jump in first-half net profit, driven by existing and new customers including retailer eBay. Net profit in the first half rose to 48.2 million euros ($55.1 million), up 75 percent from a year ago. Sales soared 67 percent to 156.4 million euros. The total volume of transactions processed by the company grew by 43 percent to
Dutch payments firm Adyen first-half profit surges Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-22  Authors: simon dawson, bloomberg, getty images, jaden urbi, beck diefenbach, ali ozcan, anadolu agency, daniel acker, reuterstv
Keywords: news, cnbc, companies, surges, adyen, processes, firm, public, ipo, firsthalf, payments, profit, half, company, dutch, million, euros


Dutch payments firm Adyen first-half profit surges

Adyen CEO: Shareholders felt IPO was the right thing to do 2 Hours Ago | 03:52

Adyen, the Dutch company which processes payments for Netflix and Facebook reported at 75 percent jump in first-half net profit, driven by existing and new customers including retailer eBay.

It was the first earnings report for the Amsterdam-based Adyen as a public company, whose wild initial public offering in June saw shares rise 100 percent from the IPO price of 240 euros per share.

Net profit in the first half rose to 48.2 million euros ($55.1 million), up 75 percent from a year ago. Sales soared 67 percent to 156.4 million euros.

“Our growth was mainly driven by existing merchants and we successfully added household names such as eBay, Valve and Dunkin’ Donuts to our platform, CEO Pieter van der Does said in a statement.

The total volume of transactions processed by the company grew by 43 percent to 70 billion euros, Adyen said.

Adyen helps retailers take customer payments — in any form and either online or in-store — and usher them through complicated payment networks quickly. It operates globally, but more than half of transaction it processes derive from Europe.


Company: cnbc, Activity: cnbc, Date: 2018-08-22  Authors: simon dawson, bloomberg, getty images, jaden urbi, beck diefenbach, ali ozcan, anadolu agency, daniel acker, reuterstv
Keywords: news, cnbc, companies, surges, adyen, processes, firm, public, ipo, firsthalf, payments, profit, half, company, dutch, million, euros


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RWE says Innogy deal on track after first-half core profit in line

RWE on Tuesday said a deal to break up its networks and renewables unit Innogy with rival E.ON was on track after posting first-half core profit that was in line with expectations. RWE and E.ON in March announced the landmark deal, which will see them divide Innogy’s assets between them and turn RWE into Europe’s third-largest renewable energy provider behind Spain’s Iberdrola and Italy’s Enel. Overall, assets worth nearly 40 billion euros ($45.6 billion) will change hands as part of the deal, w


RWE on Tuesday said a deal to break up its networks and renewables unit Innogy with rival E.ON was on track after posting first-half core profit that was in line with expectations. RWE and E.ON in March announced the landmark deal, which will see them divide Innogy’s assets between them and turn RWE into Europe’s third-largest renewable energy provider behind Spain’s Iberdrola and Italy’s Enel. Overall, assets worth nearly 40 billion euros ($45.6 billion) will change hands as part of the deal, w
RWE says Innogy deal on track after first-half core profit in line Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-14  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, track, innogy, billion, firsthalf, core, worth, world, renewable, unit, profit, deal, line, assets, rwe, eon, wednesdaywe


RWE says Innogy deal on track after first-half core profit in line

RWE on Tuesday said a deal to break up its networks and renewables unit Innogy with rival E.ON was on track after posting first-half core profit that was in line with expectations.

RWE and E.ON in March announced the landmark deal, which will see them divide Innogy’s assets between them and turn RWE into Europe’s third-largest renewable energy provider behind Spain’s Iberdrola and Italy’s Enel.

Overall, assets worth nearly 40 billion euros ($45.6 billion) will change hands as part of the deal, which is expected to close next year, RWE said.

“We will transform RWE significantly (and) we will become a pretty dominant renewable player on a global scale,” Markus Krebber, chief financial officer of RWE, told CNBC’s Karen Tso on Wednesday.

“We are much more agile than we have been years ago in the fully-regulated world, so we look forward to the new future and we think we have the right people on board,” he added.


Company: cnbc, Activity: cnbc, Date: 2018-08-14  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, track, innogy, billion, firsthalf, core, worth, world, renewable, unit, profit, deal, line, assets, rwe, eon, wednesdaywe


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Glencore reports 23 percent rise in profit

Glencore on Wednesday reported a 23 percent rise in first-half earnings and a 12 percent increase from its trading division while noting higher production costs for copper and zinc and a still volatile market. Many mining stocks have lost steam this year as metals markets weakened in response to concerns about trade tensions and uncertainty about Chinese demand. Glencore’s first-half core profits of $8.3 billion, up 23 percent, just missed a consensus forecast of $8.5 billion. Glencore shares we


Glencore on Wednesday reported a 23 percent rise in first-half earnings and a 12 percent increase from its trading division while noting higher production costs for copper and zinc and a still volatile market. Many mining stocks have lost steam this year as metals markets weakened in response to concerns about trade tensions and uncertainty about Chinese demand. Glencore’s first-half core profits of $8.3 billion, up 23 percent, just missed a consensus forecast of $8.5 billion. Glencore shares we
Glencore reports 23 percent rise in profit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-08  Authors: gianluca colla, bloomberg, getty images
Keywords: news, cnbc, companies, firsthalf, shares, focus, profit, billion, volatile, republic, metals, market, rise, remain, 23, glencore, reports


Glencore reports 23 percent rise in profit

Glencore on Wednesday reported a 23 percent rise in first-half earnings and a 12 percent increase from its trading division while noting higher production costs for copper and zinc and a still volatile market.

Many mining stocks have lost steam this year as metals markets weakened in response to concerns about trade tensions and uncertainty about Chinese demand.

Other producers have also warned of the impact of cost inflation, while Glencore’s share price has come under additional pressure from its exposure to political risk in Democratic Republic of Congo and a U.S. Department of Justice investigation.

Glencore’s first-half core profits of $8.3 billion, up 23 percent, just missed a consensus forecast of $8.5 billion.

Adjusted earnings before interest and tax from its marketing division of $1.5 billion were in line.

Glencore shares were down around 2 percent in early trade.

CEO Ivan Glasenberg said in a statement market conditions were likely to remain volatile and the focus remained on “creating value for shareholders through the disciplined allocation of long-term capital”.

Glencore had recovered strongly from the commodity crash of 2015-16 as the market anticipated it would lead the pack in deal-making and increasing its exposure to metals used in electric vehicles.

The focus this year has shifted.

In July, Glencore announced it would buy back shares worth $1 billion days after an announcement that the United States had demanded Glencore hand over documents about its business in the Democratic Republic of Congo, Venezuela and Nigeria as part of a corruption investigation.

Many analysts still regard the stock as undervalued.

“Political risks in DRC and more recently the DoJ subpoena have weighed on sentiment, but the equity story’s attractive fundamentals remain intact in our view,” analysts at BNP Paribas said in a note.


Company: cnbc, Activity: cnbc, Date: 2018-08-08  Authors: gianluca colla, bloomberg, getty images
Keywords: news, cnbc, companies, firsthalf, shares, focus, profit, billion, volatile, republic, metals, market, rise, remain, 23, glencore, reports


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