(Bloomberg) -- Australian stocks rose, rebounding
from two-days of losses. BHP Billiton Ltd. and Rio Tinto Group led
mining shares higher after metals such as copper and zinc gained,
and on a report Rio is poised to bid for Alcan Inc.
``I would bet both BHP and Rio are running the numbers over
Alcan, and maybe other companies, with a view to making a bid,''
said Richard Wallace, who helps manage $138 million at Wallace
Funds Management in Sydney. ``As an investor you don't want to
stand in the way of a train, so you'll see plenty of buying of the
shares ahead of a potential announcement.''
Read more at Bloomberg Stocks News
from two-days of losses. BHP Billiton Ltd. and Rio Tinto Group led
mining shares higher after metals such as copper and zinc gained,
and on a report Rio is poised to bid for Alcan Inc.
``I would bet both BHP and Rio are running the numbers over
Alcan, and maybe other companies, with a view to making a bid,''
said Richard Wallace, who helps manage $138 million at Wallace
Funds Management in Sydney. ``As an investor you don't want to
stand in the way of a train, so you'll see plenty of buying of the
shares ahead of a potential announcement.''
Read more at Bloomberg Stocks News
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