Global Deflation Alert——Another Commodity Whale Beached As Glencore’s Self-Bailout Falls Short

(Before It's News)

davidstockmanscontracorner.com / Agnieszka De Sousa at Bloomberg / September 25, 2015

Glencore Plc fell to a record low as Goldman Sachs Group Inc. said the company’s recent steps to reduce debt and bolster its balance sheet are inadequate.

“Investors are not yet convinced that Glencore has gone far enough to totally allay fears that the industrial assets can service the new lower debt level,” Goldman Sachs analysts includingEugene King, said in a report Thursday. “Recent underperformance suggests that the measures exercised are insufficient and more is needed.”

Glencore dropped for the fifth time in six days. The shares fell 9.6 percent to close at 98.61 pence in London, the lowest since the company’s $10 billion initial public offering in 2011.

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