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By Tuesday afternoon the company’s stock had risen to 82 pence a share on a volatile day of trading.

Another prominent bear, Goldman Sachs, said last week in a note that Glencore had failed to do enough to reassure investors about cutting its debt pile.

Glencore (GLEN.L) slumped more than 15 percent to a new all-time low after a bearish note from broker Investec that raised doubts over the mining and commodities company’s valuation and high debt levels.