Glencore Recoups Most of Monday's 29% Plunge as Bargain Seen
- Glencore adds 11% to Tuesday's record advance as metals rally
- Company's `flash crash' due to momentum, not reality: SP Angel
How it all Went Wrong for Glencore
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Glencore Plc recouped most of its losses from Monday’s 29 percent plunge as the shares rallied for a second day, with investors spying a bargain and metals prices rising.
The company jumped 14 percent to 91.55 pence in London, just 5.67 pence below the close last Friday before a swoon this week that some termed Glencore’s own “flash crash.” The excessive slump left the stock undervalued, JPMorgan Chase & Co. said Wednesday.