Diminished Chinese demand will weigh heavily on the profitability of Glencore's mining segment.
Glencore's first-half 2018 net profit of USD 2.8 billion was 13% ahead of first-half 2017, but weaker than expected. This reflects relatively soft first-half production. Output and profit will skew to the second half with volumes for most of Glencore's key commodities expected to be more than 10% higher than the first half. The additional volumes will also benefit unit costs and margins as a high percentage of Glencore's costs are fixed in the near term.Our 2018 and 2019 earnings forecasts are ...
Glencore is engaged as a natural resource companies. Co. is organized and operates on a worldwide basis in three main business segments: Metals and minerals, which comprised of zinc, copper, lead, alumina, aluminium, ferroalloys, nickel, cobalt and iron ore; Energy products, which comprised of crude oil, oil products, steam coal and metallurgical coal; and Agricultural products, which comprised of wheat, corn, canola, barley, rice, oil seeds, meals, edible oils, biofuels, cotton and sugar supported by investments in storage, handling, processing and port facilities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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