Morgan Stanley Loses LNG Traders to Glencore Xstrata and 2 Other Hot Stocks to Watch
Morgan Stanley (NYSE:MS): Current price $27.00
The commodities trading major Glencore Xstrata has recruited a four-person team of LNG traders in London and Singapore away from Morgan Stanley, which is in the process of lowering its commodity trading. According to some dealers, the act could ignite a second series of new entrants who are enthusiastic in exploiting price differentials between the Untied States, European and Asian gas markets. Liquid natural gas is among the most rapidly-growing commodity markets, while increasing volumes of super-cooled gas are shipped from Nigeria, Qatar, Indonesia and other countries.