Trading profits boost Glencore

Commodities trading and mining giant Glencore impressed the markets with its first full-year results.

Commodities trading and mining giant Glencore impressed the markets with its first full-year results since its $66bn takeover of Xstrata in May 2013.

It posted a 7% drop in income to $4.3bn, excluding one-off charges, with a 23% drop in earnings from the mining division offset by an 18% jump at the trading arm. The group mines and markets 93 commodities.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.