Commodities

COMMODITIES

The head of asset allocation at Schroders Private Bank has cut back clients' exposure to gold amid fears the price has further to drop.

BlackRock has broken its silence over the proposed merger of commodities giant Glencore and miner Xstrata, saying it will back the deal.

Miners are set to rally ‘strongly' in the second half of 2012, according to Barings' Clive Burstow, as Chinese growth will surprise and beat its annual growth target, boosting investor confidence.

Asian markets snapped gains made over the past week as renewed fears of a slowdown in China's economy weighed on investors.

Oil prices edged back slightly from a three-week high on hints the world's largest oil producer is poised to boost output.

Rising tensions between Iran and the rest of the world could prompt a sharp correction in equity markets, according to Lorne Baring, managing director of B Capital Wealth Management.

The chairman of Goldman Sachs Asset Management, Jim O'Neill, said another positive US payroll result on Friday could prompt a renewed rally in US equities.

Ivan Glasenberg, the chief executive of recently-floated Glencore, has defended the $165m dividend payout he pocketed last year.

Glencore has given no sign of adjusting the terms of its Xstrata takeover offer as it reports a 7% rise in full-year profit despite numbers slumping in the second half of 2012.