GLENCORE INTERNATIONAL PLC (GLCNF, $5.53; RATED UNDERWEIGHT; PRICE TARGET REDUCED TO USD $2.00 FROM USD $3.00) LOWER COPPER PRICE ESTIMATES REDUCE EARNINGS; ESTIMATED $10 BILLION OR 5 BIL. SHARE RIGHTS ISSUE MODELED AT $2/SHARE TO REPAY DEBT 3/19/2013

GLENCORE INTERNATIONAL PLC (GLCNF, $5.53; RATED UNDERWEIGHT;
PRICE TARGET REDUCED TO USD $2.00 FROM USD $3.00) LOWER COPPER
PRICE ESTIMATES REDUCE EARNINGS; ESTIMATED $10 BILLION OR 5 BIL.
SHARE RIGHTS ISSUE MODELED AT $2/SHARE TO REPAY DEBT 3/19/2013