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Glencore earnings hit £6.4bn

COMMODOTIES giant Glencore has reported an eight per cent rise in earnings to $6.46 billion (£3.89bn) for the first six months of the year.

The company also announced a share buyback programme of up to $1bn (£602 million).

The buyback programme is scheduled to begin in the period up to the end of March, 2015.

Chief executive Ivan Glasenberg said that Glencore had made "decisive progress" as it continued integrate rival miner Xstrata, which it bought for around £26bn two years ago.

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