Glencore pushes its float plan

Commodities trading giant Glencore is advancing plans for a $10 billion (£6.2 billion) flotation this week as stock market turmoil in the wake of unrest in North Africa and Japan's earthquake subsides.

The company, founded by United States tycoon Marc Rich, is set to appear before the Hong Kong stock exchange's listing committee on Thursday after gauging the interest of Asian investors, sources said.

The move is the strongest signal yet that Glencore will press ahead with its plans for a dual listing in Hong Kong and London by early May.

The intended flotation could value the company as high as $60 billion.