Shares in Glencore, the commodities giant that listed on the London Stock Exchange at the end of May, plunged more than 10% below the level at which they were issued less than a month ago as trading closed today.

The company's stock slumped to 473.95.p at 16.30 London time after having dropped steadily throughout the day. A 10% fall from its targeted listing price of 530p would have seen the stock hit 477p. It was ranked at the largest faller in the FTSE 100 today.