By SIMON CONSTABLE
Swiss-based commodities company Glencore has emerged as a prime beneficiary of Europe’s energy crisis.
High prices for coal, one of the company’s main offerings, are likely to persist as the war in Ukraine pushes past the six-month mark. That, in turn, could lead to double-digit gains for the stock.
“Glencore has already outperformed, and we think there is more to come,” says Tyler Broda, head of European mining RBC Capital Markets in London. “Russia’s invasion changed the calculus in the global energy balance, and coal is a very key part of that, especially in Europe.” Read more here.
Photo by Jose Losada on Unsplash
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