Copper Price Declines in China as Local Stockpiles Fall Less Than Expected

(Bloomberg) -- Copper prices in Shanghai extended a
three-day slump on concern that demand in China, the world's
biggest consumer of the metal, may be slowing as domestic
inventories dropped less than expected.

Shanghai copper stockpiles fell 1,461 tons, or 1.5 percent,
to 93,793 metric tons last week, the third straight weekly
decline from a three-year high, the exchange said in a report on
June 8. A 3,000 ton decline was expected, Yuan Fang, a metals
futures trader at Shanghai East Asia Futures Co., said June 5.


Read more at Bloomberg Commodities News

Brazil's Bond Market Hampered by Tax and Other Structural Issues, BIS Says

(Bloomberg) -- Brazil government debt market
trading volume hasn't kept up with Mexico and is a fraction of
U.S. Treasury domestic activity because of tax and other
structural problems, the Bank for International Settlements
said.

Daily trading volume for Brazil's debt equals 1 percent to
2 percent of total debt outstanding, the Basel, Switzerland-
based bank said in a quarterly review. By comparison, U.S.
government trading is 14 percent of outstanding debt, and
Mexican is about 4 percent.


Read more at Bloomberg Bonds News

UPDATE 1-Dubai's DAE says funds for $1.8 bln US buy agreed

(Reuters) - DAE will buy Standard Aero Holdings Inc. and
Piedmont/Hawthorne Holdings Inc. from private equity firm
Carlyle Group [CYL.UL] for $1.8 billion, according to a
regulatory filing on April 2. [ID:nN02413923] The deal still
needs U.S. government approval.




"The funding for that transaction is complete," Michael
Killian, DAE's treasurer told Reuters in Dubai. "It's not all
equity." He declined to give details.


Read more at Reuters.com Bonds News

Abu Dhabi's Index Advances, Paced by Aldar Properties, ADCB: Gulf Stocks

(Bloomberg) -- Stocks rose in Abu Dhabi, the United
Arab Emirates, paced by Aldar Properties PJSC and Abu Dhabi
Commercial Bank, the country's third-biggest lender by assets.

The Abu Dhabi Securities Market Index rose 0.9 percent to
3632.99 at 11:49 a.m. local time, bringing the three-day advance
to 1.8 percent. The Dubai Financial Market General Index added
0.2 percent to 4487.38.


Read more at Bloomberg Stocks News

California grocery unions set strike deadline

(Reuters) - "Unless a deadline is set negotiations could drag on indefinitely," the union said, adding that it would hold member meetings beginning June 24 to either vote on a completed contract or ask for a strike authorization.




A spokeswoman for the three grocery chains was not immediately available for comment.


Read more at Reuters.com Business News

Saudi Benchmark Equity Index Advances, Led by Saudi Basic: Arab Stocks

(Bloomberg) -- Shares in Saudi Arabia rose for a
second consecutive trading session, to their highest in a week,
led by Saudi Basic Industries Corp.

The Tadawul All Share Index rose 48.68 points, or 0.6
percent, to 7411.08 as of 3:40 p.m. in Riyadh, the highest
compared with closing prices since June 3. The benchmark has
dropped 6.7 percent this year, the fifth-worst performing index
among 90 tracked worldwide by Bloomberg.


Read more at Bloomberg Stocks News

Copper, gold tumble; wheat climbs

(Reuters) - Copper lost almost 4 percent of its value on Friday, ending at a two-week low in futures trade, as a strong dollar and fears of a slowdown in U.S. economic expansion pressured the base metal.

Gold futures fell nearly 3 percent to a one-month bottom as the firmer dollar weakened the precious metal's standing as an inflation hedge. In spot trading, gold hit three-month lows.


Read more at Reuters Africa