Citadel Defies Commodities Slump to Rack Up $4 Billion in Gains [Yahoo! Finance]
GLENCORE PLC UNSP/ADR (GLNCY)
US:NASDAQ Investor Relations:
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Source: Yahoo! Finance
Most Read from Bloomberg Riyadh Metro Partially Opens in Bid to Ease City's Traffic Jams As Wars Rage, Cities Face a Dark New Era of Urban Destruction Citadel's commodities business generated about $4 billion of profit this year, driven by natural gas trading, according to people familiar with the matter. That puts it on track to rival last year's performance. The firm's flagship Wellington fund gained about 13.2% this year through November. A spokesperson for Citadel, which managed $65 billion as of Nov. 1, said the firm doesn't comment on its performance. Trading profits, particularly in energy, have been muted across the industry as an extended period of volatility following the pandemic and Russia's invasion of Ukraine has begun to subside. The slowdown is taking a toll on firms such as Glencore Plc and Gunvor Group, as well as hedge fund boss Pierre Andurand, who ditched oil trades earlier this year for bets on copper and cocoa. The profits at Citadel's commodities
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News
- Glencore plc (OTCMKTS: GLNCY) was upgraded by analysts at BMO Capital Markets from a "hold" rating to a "strong-buy" rating.MarketBeat
- How Marc Rich's Former Haven Put a Top Commodity Trader on Trial [Yahoo! Finance]Yahoo! Finance
- Cyclic Materials reaches deal with Glencore on copper recycling [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Former Trafigura Executive Turns Star Witness in Bribery Trial [Yahoo! Finance Canada]Yahoo! Finance Canada
- Citadel defies commodities slump to rack up $4 billion in gains [Fortune]Fortune