Mining giant Glencore is considering a transfer of its primary stock market listing out of the UK, potentially dealing yet another major blow to London markets.
Glencore's copper output also fell by 6 per cent to 950,000 megatons during the year, partly due to 'unplanned mill downtime' at the Katanga copper mine in Congo.
Despite production issues, Glencore's annual turnover still increased by 6 per cent to $230.9billion, while funds from operations grew by 11 per cent to $10.5billion.
Should Glencore join the exodus, it would represent a significant blow to London markets, given the company is one of the largest FTSE 100 businesses by market cap at a whopping £40.3billion.
A total of 88 firms either delisted or transferred their primary listing from the LSE last year, the highest number since the global financial crisis in 2009, according to auditor EY.
