Commodity trader and miner, Glencore Plc, plunged 29 percent yesterday. Glencore closed at a record low of GBP 68.62 (EUR 93.34). The share price has declined with 77 percent this year; the worst performance in the UK benchmark (FTSE 100 index). Glencore refused to comment on the reason of the decline. Glencore started a debt-cutting program and hired Citigroup and Credit Suisse to sell a minority stake in its agricultural business.
Crude oil prices are in free fall from the start of 2015. Morgan Stanley’s equity team made a risky call and upgraded its energy share to overweight. The S&P 500 energy sector index lost nearly one-quarter of its value last year. .
German import prices decreased witch 150 basis points this month. This is the fourth price drop in a row and is stronger than expected..
New consequences are developing after the drop in Volkswagens market value. The Dutch Volkswagen importer PON and VW dealers voluntarily quit selling the diesel cars that possibly contain the fraudulent software. This applies to 4.100 cars that are now located at Dutch dealers.The 6M Euribor remained unchanged at 0.03%. The 10Y Swap declined with 5 basis points to 0.95%..
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