European Stocks Decline, Led by UBS, BNP, Philips, BHP Billiton, Lafarge

(Bloomberg) -- European stocks fell, following
declines in Asia and the U.S., on mounting concern that losses in
the U.S. mortgage market will erode economic growth and raise
financing costs for companies.

UBS AG and BNP Paribas SA led a drop by financial shares.
Royal Philips Electronics NV and Lafarge SA decreased as the
dollar traded near a record low against the euro. BHP Billiton
Ltd. and Rio Tinto Group slipped after copper fell in Shanghai.


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U.K.'s FTSE 100 Climbs; Vodafone, BHP Billiton, Rio Tinto Pace the Advance

(Bloomberg) -- U.K. stocks rose for the first time
in four days, paced by Vodafone Group Plc after the world's
largest mobile-phone company said the number of subscribers
increased by 4.1 percent in the fiscal first quarter.

BHP Billiton and Rio Tinto Group led shares of mining
companies higher. Segro Plc jumped after UBS AG recommended
buying the stock.


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Australia's S&P/ASX 200 Index Drops, Led by Rio Tinto Group, BHP Billiton

(Bloomberg) -- Australian stocks fell. Rio Tinto
Group dropped for a second day on concern its $38.1 billion bid
for Alcan Inc. will increase its debt, while BHP Billion Ltd.
declined on concerns recent gains have outstripped earnings.

``With Rio, there's no doubt takeovers are generally more
positive for the acquired stock than the acquirer,'' said Shane
Oliver, who helps manage the equivalent of $83 billion at AMP
Capital Investors in Sydney. ``The market may be concerned about
the increased debt factor.''


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Australian Oil Stocks Rise, Led by Woodside on Higher Oil: Rio Tinto Slips

(Bloomberg) -- Australian oil stocks rose, led by
Woodside Petroleum Ltd. and Roc Oil Co. after crude climbed to an
11-month high on speculation maintenance closures in the North Sea
may limit global supplies.

Rio Tinto Group fell for a second day after announcing it had
agreed to buy Alcan Inc. for $38.1 billion, increasing its debt.


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Australia's S&P/ASX 200 Rises to Record, Led by Woodside: Rio Tinto Slips

(Bloomberg) -- Australia's S&P/ASX 200 Index rose,
set for a record high. Woodside Petroleum Ltd. and Roc Oil Co. led
gains after crude oil climbed to an 11-month high on speculation
maintenance closures in the North Sea may limit global supplies.

Rio Tinto Group fell for a second day after announcing it had
agreed to buy Alcan Inc. for $38.1 billion, increasing its debt.


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Asian Stocks Rise for Second Week; BHP Advances After Rio Offer for Alcan

(Bloomberg) -- Asian stocks rose for a second week,
driving a regional benchmark to a record. BHP Billiton Ltd.
paced gains as Rio Tinto Group's $38 billion bid for Alcan Inc.
sparked speculation of more takeovers.

BHP, the world's biggest mining company, climbed yesterday
and Posco, the fourth-largest steelmaker, surged the most in
four years after Rio's offer, which came after Chaparral Steel
Co. agreed to be bought for $4.22 billion.


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European shares open higher, miners, banks in focus

(Reuters) - European shares opened higher on Friday with mining stocks in focus after a 38-billion deal in the sector and boosted by banking shares while investors awaited key U.S. data.

Alcoa withdrew its offer for Canada's Alcan on Thursday , clearing the way for Anglo-Australian miner Rio Tinto to agree an $38.1 billion deal, which fuelled further takeover speculation in the sector.


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RPT-UPDATE 1-NEWSMAKER-Alcan's Evans to head new Rio Tinto Alcan

(Reuters) - If Rio's all-cash $38.1 billion bid for the Canadian
company succeeds, it will wrap its combined aluminum assets
into a new entity to be called Rio Tinto Alcan, with industry
veteran Evans at the helm.




The deal gives Evans -- who has only been in the top job at
Alcan since March 2006 -- a role in a what is being billed by
some as the world's biggest mining deal and the largest
takeover in Canadian history.


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U.S. Stocks Rally, Sending S&P 500 and Dow Average to Records; Alcoa Gains

(Bloomberg) -- U.S. stocks rallied, sending the
Standard & Poor's 500 Index and Dow Jones Industrial Average to
records, after retailers reported better-than-expected sales and
investors speculated Alcoa Inc. may be bought.

Wal-Mart Stores Inc., the world's largest retailer, posted
its biggest gain in a month after same-store sales tripled
analysts' predictions. Aluminum producer Alcoa led the Dow's
advance as Rio Tinto Group's plan to buy Alcan Inc. spurred
expectations of more takeovers in the metals industry.


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UPDATE 1-Rio falls after Alcan bid, but lifts mining sector

(Reuters) - But shares in Rio, the world's second-biggest miner, slipped
as much as 4 percent, and were down 1.8 percent at 1000 GMT.




"Rio Tinto shares are trading lower this morning due to
reduced expectations for a large special dividend, reduced share
buyback programme and reduced expectations for a potential
takeover of Rio Tinto itself," Numis said in a note.


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European Stocks Advance, Led by BHP Billiton, Xstrata, Alstom, Nokia

(Bloomberg) -- European stocks rose for the first
time in three days, led by BHP Billiton Ltd. and Xstrata Plc,
after Rio Tinto Group's $38.1 billion purchase of Canada's Alcan
Inc. fanned takeover speculation in the industry.

Alstom SA jumped the most since April after the world's third-
biggest maker of power plants said sales rose 27 percent, driven by
increased investment in electricity grids. Nokia Oyj climbed after
Motorola Inc. of the U.S. posted a quarterly loss because it's
losing customers to the Finnish mobile-phone company.


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Asian Shares Rise, Led by BHP Billiton, Posco, on Takeovers, Metals Prices

(Bloomberg) -- Asian stocks climbed, driving
benchmarks in South Korea and Hong Kong to records, on takeover
speculation in the metals industry and higher commodity prices.

Rio Tinto Group climbed to a new high after a newspaper
report said it would bid for Alcan Inc. The world's No. 3 mining
company announced an offer after the close of trading in Australia.
South Korea's Posco led the region's steel producers higher after
Chaparral Steel Co. agreed to be bought for $4.22 billion.


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Rio Tinto Bond Risk Reaches Two-Year High on Its $38 Billion Bid for Alcan

(Bloomberg) -- The risk of lending to Rio Tinto
Group jumped to the highest in two years after the world's third-
largest mining company agreed to buy aluminum producer Alcan Inc.
for $38.1 billion, credit-default swaps show.

Contracts on $10 million of London-based Rio Tinto debt
increased $5,000 to $23,500, according to Deutsche Bank AG.


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Rio Tinto Bond Risk Jumps on Bid for Alcan, Credit-Default Swaps Show

(Bloomberg) -- The risk of owning the bonds of Rio
Tinto Group, the world's third-largest mining company, rose
after the company agreed to buy aluminum producer Alcan Inc. for
$38.1 billion, according to traders of credit-default swaps.

Contracts on $10 million of London-based Rio Tinto debt
rose $5,000 to $23,500, according to Deutsche Bank AG.


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European Mining Stocks May Gain; BHP Billiton, Rio Tinto Might Advance

(Bloomberg) -- European mining stocks may rise for a
ninth day after UBS AG lifted its share-price forecasts for BHP
Billiton Ltd., Rio Tinto Group and Antofagasta Plc.

U.S.-traded securities of BHP, the world's biggest mining
company, and Rio Tinto, the third-largest, advanced. Royal Numico
NV may be active after Groupe Danone SA said it offered to buy
the company for 12.3 billion euros ($16.8 billion) after the
market close yesterday. The shares were suspended from trading.
Solarworld AG might drop after UBS downgraded the stock.


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Alcoa 2nd quarter profit slips; extends Alcan offer

(Reuters) - Alcoa also extended its $28.6 billion offer to acquire Canadian rival Alcan Inc , which was to expire on Tuesday, by a month.




Last week, Alcan said the offer remains inadequate and said it is pursuing alternatives, such as talks with other groups. It declined to comment on reports that Rio Tinto Ltd , the world's second-largest miner, has asked investment banks to advise it on options, including a possible counter bid for Alcan.


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UPDATE 1-Alcan says Alcoa bid lacking, mulls options

(Reuters) - Alcan spokeswoman Anik Michaud declined to comment on
reports that Rio Tinto , the world's
second-largest miner, has asked investment banks to advise it
on options, including a possible counterbid for Alcan.




"We've said that from the outset that we were in discussion
with third parties," Michaud said. She declined to identify the
third parties.


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BHP declares Australia coal force majeure, prices up

(Reuters) - BHP Billiton Ltd. has declared force majeure on thermal coal shipments from Australia's Newcastle port because of flooding, with the lost supplies pushing spot coal prices to three-year highs on Tuesday.

Rio Tinto, the biggest exporter of thermal coal through the country's top export terminal, said it had not declared force majeure, though other exporters said they could still do so.


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BHP, Rio declare force majeure on coal exports

(Reuters) - Australian coal exporters BHP Billiton and Rio Tinto have declared force majeure following severe flooding which halted ship loadings at Newcastle port and rail transport of coal, utility/traders and traders said on Monday.

Newcastle, Australia's largest coal export facility, can handle 91 million tonnes a year.


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Rio Tinto eyeing bid for Alcan: report

(Reuters) - Rio Tinto is the latest mining house reportedly sizing Alcan up for takeover after Alcan rejected a $28.4 billion bid by Alcoa. An Alcan-Rio link up would create the world's largest aluminum company.




Rio was unlikely to retain Alcan's downstream aluminum rolling and packaging arms, which it could sell for more than $8 billion and take some of the sting out of having to fork out possibly over $30 billion for Alcan, analysts said.


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