Glencore Scraps Plans for New York Move in Boost to London (3)

Glencore Plc scrapped plans to move its primary listing away from London as the company looks to revive a share price that’s been weighed down by slumping coal prices and falling production.

The company said earlier this year it was studying such a move, but Chief Executive Officer Gary Nagle said Wednesday that Glencore was unlikely to have got into the S&P 500 if it had shifted to New York. A move would have been a blow to London, which has lost 25% of its companies in the past decade.

Gary Nagle

Photographer: Jose Cendon/Bloomberg

Glencore, and some of its investors, have grown increasingly ...