Copper bounces as spotlight falls on tight supplies

(Reuters) - Copper prices bounced on Monday as the spotlight switched to tight supplies and equities firmed, but fears about economic and demand growth could return to spook the market.

Recovering confidence in metals and equity markets helped London-listed miners such as Rio Tinto, BHP Billiton, Xstrata, Anglo American to rise between 0.6 and 2.3 percent.


Read more at Reuters Africa

Copper Workers at Chile's Collahuasi Mine Plan Strike Today; Price Gains

(Bloomberg) -- A union at Dona Ines de Collahuasi,
Chile's third-largest copper mine, plans to begin a strike over
wages today, adding to labor unrest in Latin America that may
curb global supplies of the metal and bolster prices.

``The strike is definitely on,'' union President Hernan
Farias said yesterday. The walkout is set to start at 8 a.m.
local time at the mine, which accounts for 2.6 percent of global
supply, Ferias said. The planned stoppage follows more than a
month of talks with owners Xstrata Plc and Anglo American Plc.


Read more at Bloomberg Emerging Markets News

U.K. Stocks Gain, Paced by Anglo American, Xstrata; Greene King Rallies

(Bloomberg) -- U.K. stocks gained, paced by Anglo
American Plc and Xstrata Plc as base metals rallied in London.

United Utilities Plc climbed on speculation Britain's
largest publicly traded water company may be bought. British
Airways Plc advanced after the airline won approval to fly from
U.S. cities to Europe. Rolls & Royce Group Plc rose after the
engine maker said its customer base grew ``significantly.''


Read more at Bloomberg Stocks News

Shares in Eland Platinum Plunge on Report That Takeover Bids Were Dropped

(Bloomberg) -- Shares of Eland Platinum Holdings
Ltd., South Africa's best performing stock over the last year,
fell as much as 26 percent after a report that potential bidders
may have decided against making a takeover offer.

Xstrata Plc and BHP Billiton Ltd. were both willing to
offer around 70 rand ($9.70) for Eland, Johannesburg-based Web
site Moneyweb said, citing people familiar with the situation.
Eland rose to a record 124.90 rand on June 4, almost two months
after saying it was in talks that may affect its shares.


Read more at Bloomberg Emerging Markets News

LionOre says investors should accept Norilsk bid

(Reuters) - LionOre, the world's 10th-largest nickel producer, said it
is terminating the support agreement it had signed with
Xstrata, and will pay the Swiss miner an agreed C$305 million
break fee.




"The LionOre board will unanimously recommend that
shareholders accept the offer from Norilsk Nickel and deposit
their shares into the offer," LionOre said in a statement.


Read more at Reuters.com Mergers News

European Stocks Advance, Paced by BHP Billiton, BP; Elan Shares Climb

(Bloomberg) -- European stocks climbed for a third
day, paced by BHP Billiton Ltd., Xstrata Plc and BP Plc, after
metal and oil prices advanced.

Elan Corp. surged after Ireland's biggest drugmaker said its
experimental Alzheimer's medicine will move into the last stage
of testing. Societe Generale, Axa SA, and STMicroelectronics NV
weighed on indexes as the shares traded without the right to
their latest dividend.


Read more at Bloomberg Stocks News