Lead Rises in London to Record on Australia Pollution Probe; Copper Gains

(Bloomberg) -- Lead rose to a record in London for
a third consecutive day on speculation an expanded inquiry into
contamination at Australian ports will exacerbate a shortage of
the metal. Copper and zinc also climbed.

Western Australia state will assess pollution at seven
ports after lead was detected in tests at Derby and Geraldton,
the state's Department of Environment said yesterday. Shipments
of raw material containing the metal used in batteries had
already been suspended from the port of Esperance.


Read more at Bloomberg Commodities News

German Electricity for August Falls to Record Low as Supply Meets Demand

(Bloomberg) -- German electricity prices for delivery
in August dropped to a record after declines on the day-ahead
market indicated enough power was being produced to meet demand.

Next-month baseload power prices in Germany, Europe's biggest
electricity market, declined as much as 4.3 percent to 35.50 euros
($48.95) a megawatt-hour, according to broker GFI Group Inc. at
about 10:25 a.m. Berlin time. That's the lowest since the contract
started trading on April 10. Baseload refers to power delivered
around the clock.


Read more at Bloomberg Energy News

Investor group VEB says LaSalle sale now likely

(Reuters) - The VEB will however continue to pursue a separate case
against ABN before the Dutch commercial court in which it seeks
an inquiry into the conduct of ABN's business, De Vries said.




He declined to say whether the VEB would bring a new case to
prevent the sale of LaSalle.


Read more at Reuters.com Market News

European Stocks Advance, Led by ASML, SAAB, FCC; C&C Group Tumbles

(Bloomberg) -- European stocks climbed for a second
day on speculation companies will keep increasing earnings.

ASML Holding NV rallied to a five-year high after Samsung
Electronics Co., Asia's largest maker of semiconductors, reported
profit that beat analysts' estimates. Saab AB rose the most in a
month after the company posted a 48 percent jump in earnings.


Read more at Bloomberg Stocks News

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.


Read more at Reuters Africa

General Electric Plans to Seek Buyer for Three-Year-Old Subprime Loan Unit

(Bloomberg) -- General Electric Co. plans to sell
its three-year-old U.S. subprime mortgage unit following a surge
in defaults by borrowers.

``The mortgage industry has greatly changed since the
purchase of WMC,'' Laurent Bossard, chief executive officer of
the division, said in an e-mail to employees yesterday. ``The
current subprime market environment has made a significant
negative impact on the business.''


Read more at Bloomberg Bonds News

Moroccan state cuts Maroc Telecom stake to 30 pct

(Reuters) - The Moroccan government has sold 4 percent of former state telecoms monopoly Maroc Telecom on the stock market, reducing its stake in the company to 30 percent, market regulator CDVM said on Thursday.

The state sold 35.2 million shares for 130 dirhams each on July 2, CDVM quoted the Finance Ministry as saying. The government announced on June 27 that it planned to sell the stake to local and foreign institutional investors.


Read more at Reuters Africa