Noble Group winding down copper, zinc trading

Commodities trading giant Noble Group Ltd is winding down its exposure to some metals and focusing on what it says is a profitable energy business as it addresses the global resources rout that has made the Singapore-listed firm a big focus for investors looking for casualties amid the carnage.

Noble's share price has fallen more than 50% this year amid the declines in the metals, coal and energy markets it trades in, and as analysts criticize its accounting practices. This is making the banks that finance Noble increasingly nervous about their exposure to the firm, people familiar with the matter say. As Noble looks to adapt to weaker markets, the firm is winding down its trading in copper and zinc, according to other people familiar with matter.

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