Glencore mulls ditching UK stock market listing in another blow to London

Commodities giant Glencore is eyeing ditching its primary listing in the UK in favour of New York or another location in another blow to the London Stock Exchange.

Chief executive Gary Nagle said he wants to move the listing where it can “get the right valuation”, adding that the company was assessing whether other exchanges were “better suited to trade our securities”.

“Ultimately, what we want to ensure is that our securities are traded on the right exchange where we can get the right and optimal valuation for our stock.

There have been questions raised previously around whether London is the right exchange.

“If there’s a better one, and those include the likes of the New York stock exchange, we have to consider that.”