(Bloomberg) -- Australia's S&P/ASX 200 Index rose to
a record. Rio Tinto Group led gains after BHP Billiton Ltd.'s
chief executive officer said he's always for acquisitions,
reviving speculation BHP may bid for its smaller mining rival.
``Speculation that BHP may bid for Rio has been affecting
the shares for about a month now,'' said Michael Birch, who helps
manage $133 million at Wallace Funds Management in Sydney.
``Takeovers remain a big theme driving stocks, even if a Rio
takeover is unlikely to actually eventuate in the short term.''
Read more at Bloomberg Stocks News
a record. Rio Tinto Group led gains after BHP Billiton Ltd.'s
chief executive officer said he's always for acquisitions,
reviving speculation BHP may bid for its smaller mining rival.
``Speculation that BHP may bid for Rio has been affecting
the shares for about a month now,'' said Michael Birch, who helps
manage $133 million at Wallace Funds Management in Sydney.
``Takeovers remain a big theme driving stocks, even if a Rio
takeover is unlikely to actually eventuate in the short term.''
Read more at Bloomberg Stocks News
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