Analysts spring to Glencore’s defence as miner restores confidence with buyback scheme
Research analysts have sprung to the defence of Glencore, which has rapidly restored confidence by announcing an immediate share buyback programme that communicates the formidable faith of management in the London- and Johannesburg-listed diversified mining and marketing company. In a note declaring the $1-billlion buyback “a welcome development”, Barclays Capital equity research analysts Ian Rossouw, Amos Fletcher and Kennedy Nyangoni state that "it signals management’s confidence”.