S&P cuts Glencore outlook to negative on weak commodities

Standard & Poor's on Thursday cut its outlook for Glencore Plc (Xetra: A1JAGV - news) to 'negative' from 'stable' after slashing its price forecasts for metals and amid uncertainties about China's economic outlook. The mining and commodities firm posted a 29 percent slump in first-half earnings in August and cut its forecast for earnings from trading, citing tough market conditions. "Continued weakness and volatility in commodity prices resulting notably from a more uncertain and challenging