Thursday, May 10, 2007

Canadian Stocks May Decline as Takeover Speculation Cools, Copper Drops

(Bloomberg) -- Canadian stocks may fall a second day, after Rio Tinto Group, the world's third-largest mining group, said it hadn't received a takeover approach from BHP Billiton Ltd.

Falling prices for metals including copper and gold may also weigh on shares of Canadian metals producers including Barrick Gold Corp. The raw-materials group has helped lift the Standard & Poor's/TSX Composite Index to records on four of the last five days, as takeover bids such as Alcoa Inc.'s $29.6 billion hostile offer for competing aluminum maker Alcan Inc. spurred speculation.


Read more at Bloomberg Stocks News

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