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Glencore earnings surge on trading windfall, plans Australian listing
By Clara Denina and Tom Daly LONDON, Aug 5 (Reuters) - Glencore beat forecasts on Wednesday with an 86% leap in first-half earnings, driven by its commodity trading business as conflict in the Middle East fuelled market volatility, and said it plans a secondary listing in Australia. The Swiss miner and trader's adjusted earnings before interest, tax, depreciation and amortisation jumped to $10.1 billion from $5.4 billion a year earlier, topping analysts' average forecast of $9.5 billion.
By Clara Denina and Tom Daly LONDON, Aug 5 (Reuters) - Glencore beat forecasts on Wednesday with an 86% leap in first-half earnings, driven by its commodity trading business as conflict in the Middle East fuelled market volatility, and said it plans a secondary listing in Australia. The Swiss miner and trader's adjusted earnings before interest, tax, depreciation and amortisation jumped to $10.1 billion from $5.4 billion a year earlier, topping analysts' average forecast of $9.5 billion.
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