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Glencore Rallies Most Ever After Company Reassures Investors

  • Stock jumps 17%, recouping some of Monday's 29% plunge
  • Company says there are `absolutely no solvency issues'
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Glencore Feels the Pain from China-led Slowdown

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Glencore Plc, the commodities group that’s lost almost $45 billion in market value this year, rallied the most ever after the company said it can withstand current market conditions.

The shares surged 17 percent to 80.25 pence in London, recouping some of the 29 percent slump yesterday driven by concern the company has too much debt to withstand the declines in commodities. Even so, Glencore’s credit-default swaps rose again today, signaling that the company has a 53 percent chance of default in five years, according to data from S&P Capital IQ’s CMA.