Commodities

The chief executive of Xstrata is in line for a £75m payday as head of the company created from a merger of the miner with commodities giant Glencore.

WEALTH MANAGERS

Gold had lost a fifth of it value since its peak last year as investors move into cash as fears over the eurozone crisis intensify.

Tom Dobell, manager of the £7.8bn M&G Recovery fund, has warned BP it must up its game or risk being snapped up by another oil major.

The gold spot price fell to a four-month low of $1,596 on Tuesday after the dollar strengthened significantly against the euro and other leading currencies.

Oil major BP saw profits fall in the first quarter of the year, led by its downstream business, but has held its dividend at 8 cents per share.

ENERGY

Oil giant Royal Dutch Shell has reported a rise in profits owing partly to strong demand for energy which is keeping oil prices high.

Artemis Global Energy fund managers John Dodd and Richard Hulf have shifted their portfolio more towards mid and large cap holdings as the fund gains assets faster than expected.

Commodity prices could rise by as much as 20% in the second half of 2012 while forecasts for falls in mining stocks are overdone, according to Credit Suisse.