Non-exec John Mack joins Glencore share-buying
15 minutes ago
All in this together.
John Mack, an independent non-executive director at Glencore who was previously the CEO of Morgan Stanley, is the latest director at the company to buy shares.
He has bought £444,000 worth of shares at 80.78p a pop, according to a new regulatory filing. How long they will continue to be worth £444,000 is another question; the shares have come under renewed pressure as today has worn on.
Yesterday, chairman Tony Hayward bought 100,000 shares at almost 91p.
At pixel time, the share price is 2.8 per cent lower on the day at 88.9p, making Glencore the biggest faller on the FTSE 100.
As we wrote earlier, Barclays says that a meeting it hosted earlier this week between investors and representatives of the company has helped to clear up "misconceptions" about the scale of Glencore's woes.