Glencore posted a loss and scrapped its dividend as the pandemic sapped demand and lowered prices and production at its mining division
LONDON—Commodities giant Glencore PLC reported a loss for the first half of the year and scrapped its dividend, as the coronavirus pandemic sapped demand and lowered prices and production at its mining division.
The global miner and commodities trader, though, reported record profits on its trading floor, but investors sent shares down sharply. Glencore stock was down more than 4% in midmorning trading in London, recovering somewhat from steeper losses earlier in the session.
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