Glencore retains strong lines of credit, company says
Glencore remains "operationally and financially robust" and continues to retain strong lines of credit and secure access to funding.
FTSE 100
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Glencore
378.00p
15:45 15/11/24
0.88%
3.30p
Mining
10,633.77
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1.51%
158.40
The miner continues to be confident of its commodities' medium and long-term fundamentals, the company said according to Reuters.
On Tuesday, analysts at SP Angel made a similar point, telling clients that: "It is unlikely that banks will pull their credit lines with Glencore easily – if they do we could have a “Lehman’s moment” which will have much broader repercussions outside the sector.
"Sudden falls like this are worrying but the sky has yet to fall in on our heads."
A sof 14:04 shares in Glencore were bouncing back by 13.15% to reach 77.65p.