Glencore non-exec buys first shares

published 30 August 2011

Non-executive director Peter Coates has opened his account in Glencore, spending £320,000 on shares in the Swiss commodity trading house.He took 82,700 shares at 387.2p a time and has already banked a tidy profit, with the shares closing just short of 400p today.Coates is the chairman of Australian oil and gas company Santos and has extensive experience in the mining industry.Glencore last week announced earnings ahead of some expectations, on the back of a strong showing in the energy segment. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in the first six months of the year rose to $3,845m from $2,625m last year. Adjusted EBIT surged 50% to $3,303m from $2,197m last year, ahead of the $3.2bn predicted by Cazenove. Marketing adjusted EBIT grew 45% to $1.25bn, benefiting in particular from improved profitability from the energy segment where profits increased by 200%. Top Director BuysBHP Billiton (BLT) Director name: Mr Wayne MurdyAmount purchased: 10,488 @ 1,965.11p Value: £206,101Glencore International (GLEN) Director name: Mr Peter CoatesAmount purchased: 82,700 @ 387.18p Value: £320,198Admiral Group (ADM) Director name: Mr Colin P HolmesAmount purchased: 10,000 @ 1,350.00p Value: £135,000Diageo (DGE) Director name: Ms Betsy Holden Amount purchased: 5,200 @ 1,926.50p Value: £100,178Serco Group (SRP) Director name: Mr Paul BrooksAmount purchased: 10,000 @ 509.50p Value: £50,950Berkeley Mineral Resources (BMR) Director name: Mr Masoud AlikhaniAmount purchased: 1,000,000 @ 2.90p Value: £29,000Dialight (DIA) Director name: Mr Bill RonaldAmount purchased: 3,500 @ 720.00p Value: £25,200Daniel Stewart Securities (DAN) Director name: Mr Peter D SheaAmount purchased: 1,000,000 @ 1.41p Value: £14,100TT Electronics (TTG) Director name: Mr David S CrowtherAmount purchased: 7,206 @ 147.00p Value: £10,593Top Director SellsBHP Billiton (BLT) Director name: Mr Marius KloppersAmount sold: 14,696 @ 1,940.00p Value: £285,102BHP Billiton (BLT) Director name: Mr Marius KloppersAmount sold: 14,696 @ 1,940.00p Value: £285,102