Glencore International AG, the world’s largest commodities trader, has mandated three banks to study a possible initial public offering that may take place around the second quarter of this year, French daily Les Echos reported, without citing anyone.
The company has a value of between $47 billion and $51 billion, the newspaper said, citing analysts at Liberum Capital in the U.K. The mandated banks are Morgan Stanley, Credit Suisse Group Inc. and Citigroup Inc., Les Echos said.
WHAT TO WATCH *UBS Reports Consumption Indicator for December (8:00 a.m. Zurich time) *FINMA Holds News Conference on Swiss Solvency Tests (9:30 a.m.)
EQUITIES: *Weatherford Reports Fourth Quarter Diluted EPS of 21 Cents *AFG Says 2010 Sales Rose 2.1%; Chief Executive Plans to Retire *Conzzeta says Serge Entleitner to Leave in July *Looser Reports Full-Year Sales of SF481.5 Milion *V-Zug Full-Year Revenue Rises 8.9 Percent to SF480.9 Million
MARKETS: *The SMI rose 0.6 percent to close at 6,603.80 *The SPI rose 0.4 percent to close at 5,900.09 *Euro -- Franc at 1.2947 at 7:21 a.m. Zurich time