Commodities giant Glencore will be the most dynamic company in EU mining over the next three years, according to Swiss bank UBS, which rates the stock a 'buy'. It comes after news that the trading behemoth is further strengthening its grip on global markets - through a proposed deal to buy Canada's largest wheat handler Viterra for C$6.1bn in cash.

Two of the UK’s leading institutional shareholders vowed to block the $90 billion “merger of equals”, arguing that the terms are unfair on Xstrata shareholders.

Glencore, the miner and commodity trader, yesterday posted healthy interim numbers and expressed confidence on outlook in its first results statement since its massive IPO in May. Analysts at Citi are content with the numbers and believe the outlook for the stock remains attractive. 

Investors have gleaned a greater understanding of Glencore as management held its first meeting with analysts unconnected to last week’s successful float of the commodities trader.