Shares of Glencore International Plc, the world’s largest publicly traded commodities supplier, may gain as its weighting in FTSE and MSCI Inc. indexes is adjusted in the coming months, BMO Capital Markets said.
Vale SA, the world’s largest iron- ore producer, posted second-quarter profit that missed analysts’ estimates and said it will pay an extra dividend of $3 billion as it seeks to boost returns to shareholders.
Encana Corp., the Canadian energy producer seeking to boost investor returns by shifting toward crude, is doubling its oil output with a $3.1 billion purchase of shale lands from Freeport-McMoRan Copper & Gold Inc.
Glencore International Plc’s “merger of equals” with Xstrata Plc moved closer to being a fully fledged hostile takeover after Glencore Chief Executive Officer Ivan Glasenberg raised his bid by 9 percent and demanded that he lead the new company rather than Xstrata CEO Mick Davis.
BHP Billiton Ltd., the world’s biggest mining company, is studying the next step in simplifying its portfolio to focus on iron ore, copper, coal and petroleum after a two-year campaign of global asset sales.
Iron ore is set for the first four- year drop since at least 1982 as supplies surge, threatening to end record earnings at Vale SA, Rio Tinto Group and BHP Billiton Ltd., the world´s biggest producers.