first half<\/a> was characterised by the significant repricing of energy and closely related markets and risks after escalation of the Middle East conflict.<\/p>\n\u201cWhat began the year as a relatively well-supplied energy complex quickly shifted towards a focus on security of supply and access to physical commodities. Constraints across oil, refined products, LNG and freight capacity drove heightened volatility across global energy and other markets,\u201d it said.<\/p>\n
Nagle said the group delivered another strong operational and financial performance, with its assets performing in line with market guidance. This, along with substantially higher average prices for its core commodities and a favourable marketing backdrop, underpinned a material increase in earnings, said Nagle.<\/p>\n
He said an ASX secondary listing would provide a number of compelling strategic benefits, \u201cboth on an absolute basis and relative to other global exchanges\u201d. <\/p>\n
He said Australia is home to one of the world\u2019s largest and fastest-growing pools of long-term investment capital, with A$4.4-trillion (about R51-trillion) in pension assets expected to grow to about A$12.4-trillion by 2045. <\/p>\n
\u201cThe market also offers access to a highly sophisticated investor base with deep expertise in the global resources sector.\u201d<\/p>\n
Nagle said an Australian listing is also expected to strengthen the group\u2019s profile in one of its most important operating jurisdictions, broaden its shareholder base, improve trading liquidity and enhance corporate financial flexibility.<\/p>\n
\u201cFor Australian investors, it would provide increased access to diversified copper exposure at a time when local investment opportunities have diminished after industry consolidation and M&A activity in recent years,\u201d he said.<\/p>\n
Glencore, which is headquartered in Baar, Switzerland, is listed on the London Stock Exchange and the JSE.<\/p>\n
Business Day<\/p>\n","protected":false},"excerpt":{"rendered":"Glencore plans to seek a secondary listing on the Australian Securities Exchange (ASX), targeting an October admission as…\n","protected":false},"author":2,"featured_media":111867,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[123],"tags":[54649,54654,54652,2127,54648,15218,132,54655,54653,54651,8616,54650],"class_list":["post-111866","post","type-post","status-publish","format-standard","has-post-thumbnail","category-glencore","tag-australian-pension-investment","tag-australian-pension-investments","tag-australian-stock-exchange","tag-commodity-trading","tag-copper-investment-australia","tag-energy-market-volatility","tag-glencore","tag-glencore-financial-results","tag-global-mining-companies","tag-mining-sector-australia","tag-shareholder-returns","tag-viterra-bunge-merger"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/117042146880142708","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/111866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=111866"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/111866\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/111867"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=111866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=111866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=111866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}