BS: Copper May Decline as Dollar Rebounds Against Euro: LME Preview
Sept. 27 (Bloomberg) -- Copper may decline in London as the dollar rebounded against the euro, making commodities more expensive for buyers in Europe.
Market News:
-- Asian stocks climbed, with the MSCI Asia Pacific Index up to a five-month high, and the Korean won rose as a rebound in U.S. capital goods orders boosted optimism the global economy was recovering. {NSN L9E0JJ0YHQ0X }
-- Japan is considering compiling a stimulus package totaling as much as 4.6 trillion yen ($54.6 billion) that will be funded with existing revenue, a government official said. {NSN L9E0EN0UQVI9 }
-- The U.S. Treasury Department may announce plans as early as this week to return American International Group Inc. to independence and recoup taxpayer money from the insurer’s bailout, according to three people with knowledge of the talks. {NSN L9E24D0D9L35 }
-- Japan’s exports grew at the slowest pace this year as a decrease in global demand and an advance in the yen threaten to undermine the nation’s recovery. {NSN L9DPC407SXKX }
-- Oil traded near a two-week high in New York as Asian equities climbed on signs of renewed equipment purchases by factories and businesses. {NSN L9E0GZ0YHQ0X }
Metals News:
-- Sinochem Group, China’s largest fertilizer trader, has emerged as the likeliest bidder to rival BHP Billiton Ltd.’s $40 billion offer for Potash Corp. of Saskatchewan Inc., three people familiar with the matter said. {NSN L9DYHD1A74E9 }
-- Zijin Mining Group Co. said four people died after a tailings dam collapsed, adding to safety concerns at China’s biggest gold producer two months after another accident poisoned almost 2,000 metric tons of fish. {NSN L9DZMT1A1I4H }
-- OAO GV Gold plans a London Stock Exchange listing that may value the company at as much as 500 million pounds ($791 million) the Mail on Sunday reported. {NSN L9CMWR0D9L35 }
-- Gold, trading little changed, may advance to a record as a declining dollar boosts demand for precious metals as alternative investments. Silver climbed to the highest price in 30 years. {NSN L9DZGA0UQVI9 }
--Editors: Claudia Carpenter, Stuart Wallace
To contact the reporter on this story: Maria Kolesnikova in Moscow at mkolesnikova@bloomberg.net.
To contact the editor responsible for this story: Claudia Carpenter at ccarpenter@bloomberg.net.
