1123 GMT - Glencore's "controversial" decision to retain its coal assets was a drag on its full-year results as coal prices weakened in 2024, head of investment analysis at AJ Bell, Laith Khalaf, writes. The decision to stick with coal raised eyebrows among investors and the miner needs to make this look like a smart business decision sooner rather than later, Khalaf adds. Glencore is also considering shifting its primary listing in an attempt to get a better valuation. "The fact the company's profitability is dictated by volatile commodity prices, over which it has no control, is always likely to be an obstacle to a really premium valuation," he writes. Shares trade down 7% at 328.55 pence. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
February 19, 2025 06:24 ET (11:24 GMT)
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