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Glencore shares surge; analysts say worry about firm's survival unjustified

Company has access to secure funding and plans asset sales to cut debt

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At its height in 2014, Glencore was worth more than US$85 billion after its US$29 billion all-share takeover of Xstrata plc. Now, the market value has shrunk to about US$20 billion.

London

GLENCORE plc shares rallied to a one-week high and the cost to insure the company's debt against default dropped as analysts at Sanford C Bernstein & Co said concerns around the company's solvency are unjustified.

The stock rose 12 per cent to 106.85 pence at noon in