ECONOMIC EVENTS, AGRICULTURE REPORTS: Forecast Prior Time (N.Y.) U.S. Change in Nonfarm Payrolls JUL 85K 18K 8:30 U.S. Change in Private Payrolls JUL 113K 57K 8:30 U.S. Change in Manu. Payrolls JUL 10K 6K 8:30 U.S. Unemployment Rate JUL 9.2% 9.2% 8:30 Avg Hourly Earning MOM JUL 0.2% 0.0% 8:30 Avg Hourly Earning YOY JUL 1.9% 1.9% 8:30 Chg in Household Survey Emply JUL -445 8:30 U.S. Consumer Credit JUN $5.000B $5.077B 10:00 USDA Cattle Slaughter AUG 5 127000 14:00 USDA Hog Slaughter AUG 5 403000 14:00 METAL PRICES: ($/ton) Last % Chg RSI Copper 9,200 -1.7 35 Aluminum 2,473 -0.1 37 Zinc 2,274 -2.4 36 Lead 2,434 -2.2 29 Nickel 23,118 -2.2 41 Tin 24,650 -3.4 28 OTHER MARKETS: Last % Chg % YTD U.S. Dollar Index 74.977 -0.4 -5.1 Crude Oil $86.16 -0.5 -5.7 Gold $1,666.3 +1.2 +17 MSCI World Index 1,196.80 -1.0 -6.5 TOP STORY: Commodities Post Worst Run Since 2008, Erasing Gains for Year Commodities declined for an eighth day, the longest losing streak since December 2008, and erased their gains for the year as concern deepened that the global economic slowdown would reduce demand for raw materials. COMMODITY EXCLUSIVES: India Top Court Allows NMDC to Produce From Its Bellary Mines India’s Supreme Court allowed NMDC Ltd. to produce 1 million metric tons of iron ore a month from its mine in Bellary. GMR Infrastructure Seeking ADB Backing to Attract Bond Investors GMR Infrastructure Ltd., an Indian builder of roads, airports and power plants, is in talks to get partial guarantee from the Asian Development Bank to make its planned $268 million bond sale attractive to foreign investors. China Elbows Into German Soccer as Solar Rivalry Hits Field (1) Chinese solar companies are reaching into the homes of German soccer fans for the first time, ramping up advertising to oust local suppliers from Europe’s biggest power market. Indonesia May Surpass Japan as Biggest Wheat Buyer in Asia (2) Indonesia, the world’s fourth-most populous nation, may boost wheat and flour imports 10 percent this year as surging sales of instant noodles and cookies stoke demand, according to an industry group. Clean Power Stocks Close to Bottom as Vestas Falls, Impax Says Clean energy stocks are approaching a floor after European austerity measures and cheap U.S. natural-gas pushed wind and solar companies lower, Impax Asset Management Ltd. said. Japan Promotes Shipyard Mergers on Chinese, Korean Competition Japan, dethroned as the world’s biggest shipbuilding nation over the past decade, is promoting mergers among local shipyards to help compete with China and South Korea. Hoarding Gold Beats Charts Over 25 Years: Technical Analysis A buy-and-hold strategy for gold made investors more money during the past quarter century than any technical analysis tool. Art Treasure Faces Meltdown on Records for Gold, Silver Futures Experts are watching thousands of valuable heirlooms be melted down as financial-market turmoil boosts investors’ demand for precious metals. INDUSTRIAL METALS: Escondida Workers Vote to End Strike, Sign Deal With BHP (1) Workers at BHP Billiton Ltd.’s Escondida unit in Chile voted for a package of benefits to end a strike at the world’s biggest copper mine as soon as today. Copper Slumps to Five-Week Low on Concern Growth Will Falter Copper fell to a five-week low in London, on course for the biggest weekly drop since March, as commodities and equities plunged on concern a faltering global economy will curb demand. Shanghai Copper Inventories Rise Fourth Week; Aluminum Drops (1) Copper stockpiles monitored by the Shanghai Futures Exchange increased for a fourth week, while aluminum inventories declined to a 26-month low. MINING: Glencore May ‘Prove Mettle’ in Commodities Rout, Liberum Says Glencore International Plc, the listed raw materials trader that’s slumped 18 percent in London trading this week, may “prove its mettle” in the current rout in commodities prices, said Liberum Capital Ltd. Zimbabwe Diamond Production Surges After Marange Sales Allowed Zimbabwe became the world’s seventh- biggest diamond producer by value in 2010, up from 13th the previous year, statistics released by the Kimberley Process and New York-based Rapaport show. Richards Bay Coal Terminal Shipments Fell 27% From Year Ago Richards Bay Coal Terminal, on South Africa’s east coast, shipped 4.36 million metric tons of the fuel in July, 27 percent less than a year earlier. PRECIOUS METALS: Gold Gains in London as Financial Turmoil Boosts Investor Demand Gold climbed in London as turmoil in financial markets boosted demand for the metal as a protection of wealth. Platinum and palladium fell. AngloGold Plans Trial to Tap $118 Billion of 3-Mile Deep Ore (1) AngloGold Ashanti Ltd., which owns the world’s deepest mine, will within two years trial new mining methods in South Africa to access almost $118 billion worth of gold lying more than three miles underground as it expects gold prices to keep rising from this year’s record. Gold May Gain on Currency Alternative, Debt Woes, Survey Shows Gold may extend gains from a record as investors seek a protection of wealth and an alternative to currencies, a survey found. AGRICULTURE: Uganda Waives Tax on Sugar Imports for Six Months, Minister Says Uganda will waive all taxes on sugar imports for the next six months to allow the country to import 40,000 metric tons of the sweetener, said Fred Omach, the minister of state for finance. Palm Oil Inventory in Malaysia Advances to 19-Month High (1) Palm oil stockpiles in Malaysia, the second-largest grower, probably climbed to the highest level in 19 months in July as production peaked on favorable weather, according to a Bloomberg News survey. Palm Oil Drops as Commodities Plunge on U.S. Recovery Concern Palm oil dropped the most in more than five weeks as commodity and equity markets slumped on concern that the U.S. economic recovery may stall. Wheat Falls a Third Day as Commodities Drop on Slowdown Concern Wheat fell for a third day in Chicago, extending the biggest drop in five weeks, as commodities and equities plunged on concern a faltering global economy will curb demand. Corn and soybeans slid. China Said to Be Planning Soy Sale to Rotate State Inventory (1) China, the biggest soybean consumer, plans to sell 4 million metric tons of the oilseed from government warehouses to make room for this year’s harvest, four trading executives familiar with the matter said. Japan to Spend $1.1 Billion to Contain Tainted Beef Crisis (1) Japan will spend 85.7 billion yen ($1.1 billion) to buy back beef and cattle tainted by radiation in an attempt to curb losses among producers and ease food safety fears. Cocoa May Drop in London on Ivory Coast Output; Coffee Advances Cocoa may decline in London on speculation of plentiful supplies from the Ivory Coast, the world’s largest producer. Coffee rose. SHIPPING: Vitro, Marc Dreier, A&P, Borders, Spiegel: Bankruptcy Ten subsidiaries of Vitro SAB, the Mexican glassmaker, filed papers asking the bankruptcy judge in Dallas to assess $6.2 million in damages against bondholders who filed unsuccessful involuntary Chapter 11 petitions. The dispute goes to the bankruptcy judge for decision on Aug. 23. ECONOMIES: China 6% Inflation Limits Loosening as Stock Rout Hits Asia (1) China, which led the rebound from the global recession in 2009, may have limited room to counter weakening growth in the U.S. and Europe as inflation restrains policy makers from loosening monetary policy. Yuan Debt Worst in BRICs as PBOC Battles Inflation: China Credit Yuan-denominated bonds are the only local-currency debt among the biggest emerging nations delivering a loss as investors bet quickening inflation will force China to keep raising interest rates. HSBC, BEA Chiefs Say Currency Basket Can Replace Hong Kong Peg Hong Kong should consider replacing the local dollar’s 28- year peg to the greenback in favor of an exchange rate managed against a basket of currencies, the chief executives of HSBC Holdings Plc and Bank of East Asia Ltd. said. Trichet’s Firepower Faces Test as Rout Withstands ECB Buying (2) European Central Bank President Jean-Claude Trichet may be forced to step up his fight against the sovereign debt crisis after a resumption of bond purchases yesterday failed to halt a rout in Italy and Spain. U.S. Payroll Gain Was Likely Too Small to Cut Unemployment (1) American employers probably failed to create enough jobs in July to reduce the jobless rate, showing anxiety over government debt deliberations and a slowdown in consumer spending have shaken confidence, economists said before a report today. OTHER MARKETS: Stocks Tumble for Eighth Day as Commodities Drop; Franc Weakens Stocks dropped for an eighth day, the longest losing streak since January 2010, and commodities declined on concern the U.S. recovery is faltering. The Swiss franc weakened and the yen strengthened. Franc Falls as Hildebrand Calls Strength ‘Absurd;’ Yen Rebounds Switzerland’s franc weakened, falling from a record against the euro, after Swiss National Bank President Philipp Hildebrand said the central bank won’t exclude any measures to curb the currency’s advance. Yen Intervention Only ‘Buys Time’ as U.S. Slows: Japan Credit Japan’s third intervention in a year may fail to halt the yen’s appreciation as the slowing U.S. economy reduces the appeal of dollar-denominated assets. European Stocks Retreat as RBS, Allianz, Dexia Shares Decrease European stocks and U.S. futures retreated, with the benchmark Stoxx Europe 600 Index heading for its biggest weekly loss since November 2008, as concern escalated the economic recovery is stalling. Asian shares sank. Worldwide Equity Rout Erases Year’s Gains in Developed Markets A global rout in equities sparked by concern economic recoveries in the U.S. and Europe may stall wiped out gains this year for major benchmark indexes in the world’s developed markets. Oil Drops to Lowest in Eight Months Amid Global Rout on Economy Oil fell to the lowest in eight months in New York, set for the biggest weekly decline since May, on speculation fuel demand will falter as U.S. economic growth falters and Europe’s debt crisis worsens. Europe’s Leaders Race to Tackle Crisis as Spanish Bonds Gain European leaders returned to the hunt for solutions to the debt crisis, helping Italy and Spain gain a a respite from the market turbulence after the resumption of the European Central Bank’s bond-buying program. Syria’s Assault on Hama Unhindered by Criticism of Assad (2) Syrian tank crews and snipers pressed on with their assault on Hama, site of a 1982 massacre, as U.S. Secretary of State Hillary Clinton said that President Bashar al-Assad has “lost his legitimacy to govern.” Emerging Stocks Tumble, Currencies Fall on Global Recession Risk Emerging-market stocks slumped for a fourth day, sending the benchmark index to its largest weekly rout in 15 months, as Europe’s debt crisis and weaker U.S. economic data heightened the risk of a global recession. SPORTS: Arsenal to Play Udinese in Champions League Soccer Playoff Round The following are the matchups for the playoff round of European soccer’s Champions League. The winners of the two-match series, which will be played Aug. 16-17 and Aug. 23-24, advance to the group stage. The first team listed plays the opening match at home. Arsenal Rejects Third Barcelona Bid for Fabregas, Sky Reports Arsenal has rejected a third bid from Barcelona for midfielder Cesc Fabregas, Sky Sports reported on its website. Kroenke Backs Arsenal’s $65 Million Fabregas Valuation: Roundup The following is a roundup of soccer stories from U.K. newspapers, with clickable links to the Web. To contact the editor responsible for this story: Stuart Wallace in London at swallace6@bloomberg.net

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