Global markets have taking a hit
Global markets have taking a hit

Global stocks smashed, hurting Australian share market

GLOBAL stocks have fallen to their lowest level in more than two years compounding a day of massive losses on the Australian share market.

Mining and trading giant Glencore, whose shares fell by almost a third on Monday on investor concern over its debt levels, recovered partly during trading in London overnight, surging 17 per cent by 12:30am (AEST).

That was after the company's Hong Kong-listed shares closed down 29 per cent on Tuesday.

Glencore released a statement saying it had taken proactive steps to position the company to withstand current commodity market conditions.

"Our business remains operationally and financially robust - we have positive cash flow, good liquidity and absolutely no solvency issues," it said in the statement.

ABC News



Missing woman may be on the Northern Rivers

Missing woman may be on the Northern Rivers

28-year-old's handbag handed in to police

'It was tobacco': Baggaley denies dumping 600kg cocaine

'It was tobacco': Baggaley denies dumping 600kg cocaine

Accused allegedly threw cocaine overboard while being pursued

Thunderstorms and widespread rain 'firing up'

Thunderstorms and widespread rain 'firing up'

"A glorious rain band” could bring rainfall for hours

Local Partners