Glencore and Xstrata share prices rise

<p>Share prices of Glencore and Xstrata are up ahead of their merger.</p>

Glencore and Xstrata have both seen their share prices go up today (March 5th) in the lead up to the merger of the two companies.

Commodities trader Glencore was up by three per cent and mining group Xstrata increased by 3.8 per cent on the start of the day, reports BBC News.

The shift in share prices of the two companies comes after Glencore met expectations with a 25 per cent drop in net profit, while profits at Xstrata fell by 37 per cent, which is less than had been forecast by analysis.

According to a report by BBC News, the benchmark London-based FTSE 100 was up 51.16 points, or 0.8 per cent, at 6,396.79 in lunchtime trading.

During the afternoon session of trading, it was recorded at 16:00 GMT as being at 6424.15, showing a strong day for the index.

Serco Group was among the big winners of the day with a nine per cent jump in its share price, while stocks in SSE were down by 0.48 per cent.

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