Glencore catapulted in FTSE 100 on debut in London

London - Swiss commodities Glencore is one giant market stock lukewarm debut Tuesday but still became the first company in 25 years to join the FTSE 100 index on admission.

The London Stock Exchange welcomed the historic flotation which it said value Swiss giant 59.2 billion (EUR 42.0 billion).

A spokesman for the FTSE Group confirmed that Glencore will take its place in the prestigious FTSE 100 index opened Wednesday.

However, the actions of the Group tempered 0.84% close to 525 pence Tuesday, compared to prices of introduction week last 530 pence.

Glencore, whose actions go to Hong Kong Wednesday, raised about $ 10 billion the week last largest initial public offer (IPO) world so far this year.

The firm, which is based in Baar, Switzerland, has now become only the third company to be admitted under the FTSE 100 fast-entry rule.

"As one of the largest offices in history, we are delighted Glencore chose the London Stock Exchange,"LSE executive chef Xavier Rolet said in a statement."."

"Its list of London give exposure to the deepest pool of the world of international capital;" entry to a world more followed and exchanged indices, the FTSE 100; and access to a worldwide community of financial and market expertise.

"The size and the success of flotation of Glencore shows London is very open for business and that its base of investors has the appetite and the ability to support large fundraisings.".

Swiss society is a trader more products in the world, with products, including oil, coal, gold, and of foodstuffs, but also has a number of mines around the world.

Conditional - unofficial trade the shares on the condition that they would finally fully listed - began the week last in London.

Glencore, the largest global commodities trader by income with $ 145 billion in 2010, guaranteed $ 3.1 billion of so-called cornerstone investors, who had subscribed to 31 per cent of the shares on offer.

These investors include funds sovereign Singapore and Abu Dhabi, asset managers and private banks.

The arrival of Glencore in the FTSE 100 is at the same time engineering firm Invensys bump in the FTSE 250 index for the second level of London.

"Glencore is the largest mining industry IPO ever and the biggest share offers in the industry to the United Kingdom and it gives an initial value of about $ 59 billion market, said Atif Latif, Director of trade in the securities brokers Guardian."

"Until now, trade is as expected." It is perhaps because of the recent weakness in the sector in its whole, as most of the commodities market has been selling for the last few days. ?

He added: "I?" t think that they (Glencore) will be worried because it is still early it will take time for buyers who are on the sidelines to be riveted during the first days to measure the levels of entry. ?

All of the company last Thursday the final price of the introduction on the stock exchange to 530 pence in the 480-580 pence will which it had announced in early May.

In all, total Group shares 1.2 billion or 16.9% of the shares are being floated. The remains of 83.1 for hundred remaining between the hands of the management and employees.