LONDON: Trader Glencore stuck to its guns on a US$30bil bid for miner Xstrata as it reported a smaller-than-expected drop in first-half profit yesterday, with the impact of weaker prices tempered by resilience in metals and agricultural trading.
Glencore, the world's largest diversified commodities trader, said net profit fell to US$1.81bil, down from US$2.44bil a year ago and marginally above analysts' expectations of US$1.6bil.
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