Glencore share price nears a 52-week high — what traders are watching next
Glencore shares rose 0.3% to 505.5 pence in early London trading, hitting a new 52-week high ahead of Thursday’s full-year production report. Investors are watching for updates on Rio Tinto’s potential takeover, with a formal offer deadline set for February 5. HSBC downgraded Glencore to “hold” with a 515 pence target. Harris Associates disclosed a 0.98% stake, selling 2.41 million shares last week.