News Column

FTSE 100 slips back but Glencore edges higher after $1bn share buy back

August 20, 2014

Nick Fletcher,

Markets have paused for breath after recent rises, not helped by a number of companies seeing their shares go ex-dividend.

But after Tuesday's disappointment from BHP Billiton, which unveiled a demerger but failed to announce a cash return to shareholders, Glencore has pleased investors with a $1bn share buyback. The commodity trader and miner said it would launch a buyback programme over the next six months, as it beat forecasts with an 8% rise in first half profits to $6.5bn. It also raised its interim dividend by 11%.

The news has helped Glencore edge 1.9p higher to 360.85p.

Overall the FTSE 100 has slipped 20.03 points to 6759.28, following a flat performance from Asian markets and awaiting minutes from the Bank of England and US Federal Reserve.

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Source: Guardian Web

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