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Good morning, everyone.
Mining firm Glencore has said it's operationally and financially robust1 after questions were raised about its financial future. On Monday, its shares dived 30% after a note from analysts2 said its share value could be eliminated. Those comments led a major selloff from the global markets. Glencore has been hit by a slowdown in the wider commodities markets, with copper3, aluminum4 and nickel all down more than 25% compared with the year ago.
Unemployment among Australia's professional mining workforce5 has surged over the last year and is now three times the national average. A survey from the Minerals Institute found around 16% of Australia's mining professionals are now jobless. The iron ore sector6 is the hardest hit, with an unemployment rate of almost 25% for professionals in that sector.
Let's go to the global markets now. And there was a bit of recovery overseas with the Wall Street ending mixed. Now the Dows lost 47 points or 0.3%. The Nasdaq finished 0.6% lower. While the S&P 500 also lost about 6%. And in London, the FTSE fell 0.8%.
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1 robust | |
adj.强壮的,强健的,粗野的,需要体力的,浓的 | |
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2 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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3 copper | |
n.铜;铜币;铜器;adj.铜(制)的;(紫)铜色的 | |
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4 aluminum | |
n.(aluminium)铝 | |
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5 workforce | |
n.劳动大军,劳动力 | |
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6 sector | |
n.部门,部分;防御地段,防区;扇形 | |
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7 sterling | |
adj.英币的(纯粹的,货真价实的);n.英国货币(英镑) | |
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