STOCKS NEWS US-Rio Tinto to sell Americas packaging unit

STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity news U.S. stock market report 0809 ET 06July2009-Rio Tinto to sell Americas packaging unit ------------------------------------------------------------------------------ Global miner Rio Tinto further improved its cash position on Monday by agreeing to sell its Americas food packaging business for $1.2 billion, and analysts said they expected more asset sales to follow soon. Rio Tinto, which only last week raised $15.2 billion in one of the world's largest-ever rights issues, will sell the assets to U.S.-based Bemis Co Inc for $1 billion in cash, with the rest potentially paid in the form of Bemis shares. For details, see U.S.-listed shares of Rio Tinto fell 5.4 percent to $149.96 in premarket trading while Bemis shares closed Thursday at $24.28. Reuters Messaging: [e-mail] 0805 ET 06July2009-BofA tops UBS as biggest wealth manager: survey ------------------------------------------------------------------------------ Bank of America has toppled crisis-hit UBS as the world's biggest wealth manager as the industry faces shrinking wealth and another tough 12 months, a survey showed on Monday. Private wealth managed by banks and investment managers around the world dropped nearly 17 percent to $14.5 trillion in 2008 from a year earlier, a survey by specialist consultancy Scorpio Partnership of 14,000 private bankers and 7,000 wealthy individuals showed on Monday. For details, see Shares of Bank of America, a Dow component, slid 0.6 percent to $12.56 in premarket trading while UBS was down 3.4 percent to $11.54 on the New York Stock Exchange. Reuters Messaging: [e-mail] 0755 ET 06July2009-Barron's sees strong upside for Foot Locker stock ------------------------------------------------------------------------------ Foot Locker Inc's shares could rise up to 50 percent in the next year as a reorganization of the athletic shoe retailer positioned it to sprint when the U.S. economy starts to recover, Barron's wrote in its July 6 edition. The retailer has been reshuffling its merchandise, closing stores and slashing costs over the last two years anticipating a downturn in the U.S. economy. Now, the company could see its stock jump to $15 from $10 in the next year if the U.S. economy starts to grow, the financial publication wrote. For details, see Shares of Foot Locker rose 1.8 percent to $10.20 in premarket trading. Reuters Messaging: [e-mail] 0750 ET 06July2009-Deere to start producing tractors in Russia ------------------------------------------------------------------------------ Deere & Co Chairman Samuel Allen on Monday said that the farm machinery maker would start producing tractors in Russia within the next 5-7 years. Russian President Dmitry Medvedev last month told a global agriculture summit that his government would devote financial resources to boost its position in world grain markets, creating potential opportunities for industry suppliers like Deere, the world's largest maker of farm equipment. "The investment into the Russian economy will allow us to increase our production and technological capacity which is also in line with the plans of the Russian government," Deere Co. said in a statement. For details, see Shares of Deere slid 1.2 percent to $38.07 in premarket trading on light volume. Reuters Messaging: [e-mail] Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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