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Canada Mining Exploration Company Shift Away From Metal Mine Exploration to Coal Mine Exploration
Canada’s biggest diversified mining company has made a major shift away from metals to coal.
Teck Cominco Ltd.’s $14-billion (U.S.) offer for Fording Canadian Coal Trust – the largest coal sector deal in history – amounts to a major bet by Teck on continued strength for the commodity, which is used to make steel and is [...]
U.K. Stocks Gain, Led by Anglo American, BHP Billiton, Barclays
U.K. stocks rose, snapping a three- day slump, paced by Anglo American Plc, Barclays Plc and Royal Bank of Scotland Group Plc.
“We remain positive on the outlook for U.K. equities considering the favorable earnings reports and continued M&A speculation,” said Rupert Cecil, who helps manage $13.4 billion as the head of U.K. equities at [...]
Goldman, Deutsche Bank Say Double Down on Commodities (Update1)
Anyone who followed the advice of Goldman Sachs Group Inc. last year and invested $10 million in the Goldman Sachs Commodity Index would have lost 15 percent, or $1.5 million.
Like so many of Wall Street’s best and brightest, Goldman, the biggest securities firm by market value, says it wasn’t wrong, just early, and to expect [...]
Indonesia’s Riches Draw China, India
When it comes to energy and industrial commodities, China and India are Asia’s fiercest competitors. For the last couple of years, both Chinese and Indian companies have done deals across the globe — from Latin America to Africa — to win oil exploration rights or secure long-term raw material contracts.
Now they have set their sights [...]
European Mining Stocks May Rise on Gold, China Growth Forecast
European mining stocks may rise after gold prices gained and China said economic growth will accelerate this year. Rio Tinto Group and Anglo American Plc might lead the advance.
“Metal prices have moved significantly higher which should help the mining companies,” said Simon Denham, a director at London Capital Group. “We see Rio and Anglo opening [...]
European Mining Stocks May Rise on Gold, China Growth Forecast
European mining stocks may rise after gold prices gained and China said economic growth will accelerate this year. Rio Tinto Group and Anglo American Plc might lead the advance.
“Metal prices have moved significantly higher which should help the mining companies,” said Simon Denham, a director at London Capital Group. “We see Rio and Anglo opening [...]
Telecoms Weigh on Europe
European markets finished largely in the negative, dragged by U.S. market losses and further weakness in the telecommunications sector. Deutsche Telekom dropped 3%, Vodafone Group lost 1.8% and BT Group lost 0.3%. Companies in France gained on strong second-quarter GDP figures. The German DAX 30 lost 0.1%, London FTSE 100 fell 0.1%, while the French [...]
Techs, Autos Lead Europe Higher
European markets finished steeply higher, boosted by gains on Wall Street, as well as strength in the technology and automotive sectors. French telecom-equipment maker Alcatel rose 2.8%, and automaker Volkswagen gained 3.2% to help market higher. The French CAC 40 led European gainers, climbing 1.2%, followed by the German DAX 30, up 0.9%, and London [...]
