Ivan Glasenberg, the billionaire creator and chief executive of Glencore, has managed to do what few of his rival global miners have recently and gave investors a reason to cheer. Barclays mining analysts judged the mood, commenting: Glencore shares rose 2p to p and are up 17 per cent since the start of the year.

BHP Billiton shares, by contrast, fell 5 per cent yesterday and dipped again today. They are up less than 5 per cent this year. Commodities trading was the powerhouse with mining for industry putting in a slower but again better-than-expected performance.

Glencore to Buy Back Shares as It Swings to a Profit - WSJ

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Glencore reveals $1bn share buyback as earnings increase 8pc | City A.M.

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