Global stocks smashed, hurting Australian share market

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

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

Topics:  business share market stocks

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Footy dad: I can hold my head high

Geoffrey Whittaker says it's 'awesome' to see justice served after enduring a trial this week. He was found not guilty of assault.

'I'm glad I'm not the one that looks like the idiot any more'

Footy fight: Coach accused of spiteful, 'vicious' act

Geoffrey James Whittaker, who has pleaded not guilty to assault charges at a football carnival.

'Sometimes it's appropriate to defend oneself by striking first'

Dad 'head-butted' footy coach during kids' rugby carnival

Geoffrey Whittaker has pleaded not guilty two assault charges. The offences are alleged to have occurred during a children's football carnival in 2016.

Geoffrey James Whittaker pleads not guilty to two assault charges

Local Partners