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Glencore International AG

Glencore insists no solvency issues, shares spike higher

Commodities group Glencore insisted Tuesday it's not facing solvency issues, a day after its shares fell by nearly a third amid concerns over its ability to service sky-high debts at a time when many commodity prices are at multi-year lows.

Its defense helped the company's stock recover 17 percent to close at 80 pence. That means it has recouped around a half of the losses suffered Monday, when Investec Securities warned that the company faces acute financial difficulties in light of a slide in commodity prices.

Responding to Investec's analysis that the company could end up "solely working to repay debt obligations" if commodity prices don't recover, Glencore said...

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