Glencore Shares Watch Monday Catalyst With Rio Tinto in Focus
Glencore will start the week with some relief on costs. South Africa’s energy regulator okayed a temporary discounted power rate for a ferrochrome joint venture with Merafe Resources. The move was announced late Friday after London markets had finished trading. London-listed Glencore finished Friday at 567.80 pence, off 5.8 pence from Thursday's 573.60 pence. That still leaves shares barely under their May 22 closing level of 569.10 pence. The London Stock Exchange stayed closed Monday for the Spring Bank Holiday and does not open Saturdays, so investors will react to the South African tariff move next session.