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Besieged commodity trader gets vote of confidence

Market response overdone as Glencore is not financially stressed, says Citi report


GLENCORE Plc, the commodity trader whose shares lost almost a third of their value in a day, just got a vote of confidence from Citigroup Inc.

The company doesn't have a stressed balance sheet, has the ability to sell assets to stem the rout and is rated as a "buy",