Sept 16- London- listed Petra Diamonds Ltd said it sold a rare blue diamond found at its mine in South Africa for $27.6 million. The company recovered the 122.52- carat diamond in June from its Cullinan mine, a site with a long and illustrious history of producing high-value stones.» Read More
Investors were pleased Friday with Newmont Mining's decision to eliminate forward-sales contracts and a merchant banking unit, sending the giant gold producer's stock up 5.4%.
Alcan the big Canadian aluminum maker, said Friday that a $28.6-billion hostile takeover offer from Alcoa remains inadequate, and that it is pursuing alternatives such as talks with other groups.
Alcoa says it could raise its hostile $28.6 billion offer for Alcan if warranted, but the Canadian aluminum maker has rebuffed requests for talks, a regulatory filing showed on Tuesday.
Alcan has rebuffed requests by Alcoa for a meeting to discuss Alcoa's hostile $28.6 billion offer for the Canadian aluminum producer, a regulatory filing showed on Tuesday.
Teck Cominco said on Tuesday it would buy Aur Resources in a friendly cash and stock offer worth C$4.1 billion ($3.9 billion) that will significantly boost Teck's copper production.
Shares in Standard Chartered fell 1.2% Wednesday despite an upbeat trading statement from the global bank, as investors cashed in on the stock's recent strong performance, according to Keefe, Bruyette and Woods.
Alcoa's shares jumped nearly 3 percent to a six-year-high Monday on renewed speculation that mining giant BHP Billiton has revived plans for a $40 billion takeover of the U.S. aluminum company.
Australia is no longer just a hot tourist destination -- it’s also a great place to invest in, according to Anthony Cragg. On “Squawk on the Street,” the lead manager for the Wells Fargo Advantage Asia Pacific Fund spoke about the investment opportunities down under.
Norilsk Nickel, the world's largest nickel and palladium miner, said on Friday 2006 net profit more than doubled on record prices and the sale of a stake in South African miner Gold Fields.
Rio Tinto, the world's second-largest mining group, dismissed talk that it was lining up a bid for Canadian aluminum maker Alcan as speculation, but did not todeny the rumor outright.
Here's one of our last looks at the contest stocks. The most active and widely held remained pretty much the same throughout the contest and the finals--for both the Million Dollar Portfolio Challenge and Second Chance Showdown. Most best and worst performers were affected by earnings and M&A's over the weeks as well. Here you go:
Alcan has entered early-stage discussions with global mining giant BHP Billiton as it looks to fend off an unwanted takeover attempt by US rival Alcoa, Canada's Global and Mail newspaper reported, citing people familiar with the matter.
Russian metals giant Norilsk Nickel has aised its offer for Canadian miner LionOre to C$27.50 ($25.30) a share, valuing the company at approximately C$6.8 billion ($6.26 billion), Norilsk said on Wednesday.
Alcan's board unanimously recommended that shareholders reject Alcoa's unsolicited takeover offer of $73.25 a share in cash and stock, calling it inadequate and contrary to the best interests of Alcan's shareholders.
Hey folks, we have guest blogger Jeff Mishlove with some thoughts for the final week of the contest. Here's his post: One week ago, I recommended a momentum strategy based upon selecting stocks that had been surging in price during the past three months. At that time, I recommended five stocks: SCHN, NTRI, FCX, LRCX and VCLM. I see that four out of these five stocks are now up for the week.
Hey folks, Jeff Mishlove has some thoughts for the contest finals. We'll get right to them. Here's his post: Now the Portfolio Challenge moves into the finals and the Second Chance Showdown. I am not in the finals, and I have decided not to enter the Second Chance Showdown – so that there can be no suggestion of a conflict of interest with regard to any recommendations I may make for the Million Dollar Buzz.
ThyssenKrupp, one of the world's biggest steelmakers, said Friday that its second-quarter net profit fell from last year because of a multimillion-euro fine levied by the European Union, but sales rose.
Well, our contest "stock report" has some interesting news. One of the best performers was a stock (FWLT) that celeb/actor Stephen Collins had on his list--and one that put him in the lead of Trading With The Stars (more on that in another post). In fact, it was the best of the best performers. And one pick that made the most actives, was one recommended yesterday by guest blogger Timothy Sykes--SIX. Here you go...
Stocks are searching for direction at lower levels ahead of the Fed's meeting today. The Fed is not expected to move on rates but its comment will be watched carefully.
As we posted earlier, Alcan is one of the best performing stocks in the contest from the latest stats we've collected. CNBC's David Faber had a video report today on the hostile takeover deal for Alcan that Alcoa is trying to engineer. Evidently, this has been a two year "courtship" between the two companies. But any possible friendly deal was stopped last December by Alcan. And Faber says it's possible there could be more "suitors" for Alcan. Here's his report with some info on Alcan.
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