Commodities Correspondent
Pratima's Feed
Sep 28, 2011

More than 9 suitors court London Metal Exchange

LONDON (Reuters) – Interest in the London Metal Exchange as a takeover target has snowballed and the number of suitors has risen to double digits because business is booming with volumes at record levels, its chief executive Martin Abbott said.

The LME will set up a “data room,” opening the books for would-be buyers, by early December.

Sep 26, 2011

Analysis – LME opens door to potential $1.5 billion takeover

LONDON (Reuters) – The world’s biggest metal market has thrown open its doors to a potential 1 billion pound ($1.5 billion) takeover and is considering a sale that might end the independence its chief executive previously said was not negotiable.

The London Metal Exchange (LME) said on Friday it was considering a sale after receiving “several expressions of interest.” A source with knowledge of the situation said there had been a firm offer, which had triggered the beauty parade.

Sep 26, 2011

LME opens door to potential $1.5 billion

LONDON (Reuters) – The world’s biggest metal market has thrown open its doors to a potential 1 billion pound ($1.5 billion) takeover and is considering a sale that might end the independence its chief executive previously said was not negotiable.

The London Metal Exchange (LME) said on Friday it was considering a sale after receiving “several expressions of interest.” A source with knowledge of the situation said there had been a firm offer, which had triggered the beauty parade.

Sep 26, 2011

LME opens door to potential $1.5 billion takeover

LONDON (Reuters) – The world’s biggest metal market has thrown open its doors to a potential 1 billion pound ($1.5 billion) takeover and is considering a sale that might end the independence its chief executive previously said was not negotiable.

The London Metal Exchange (LME) said on Friday it was considering a sale after receiving “several expressions of interest.” A source with knowledge of the situation said there had been a firm offer, which had triggered the beauty parade.

Sep 23, 2011

London Metal Exchange considers takeover approaches

LONDON, Sept 23 (Reuters) – The London Metal Exchange, the
world’s biggest market for industrial metals that has hit record
volumes this year, is considering a sale of itself after being
approached about deals, it said on Friday.

The 134-year-old exchange, owned by trading houses and banks
that use the market, declined to identify its suitors, but
analysts said two potential bidders were the ICE exchange
in the United States and the London Stock Exchange
.

Sep 23, 2011

LME considering selling itself after approaches

LONDON (Reuters) – The London Metal Exchange, the world’s top market for industrial metals that has had surging volumes recently, is considering selling itself after being approached about deals, it said on Friday.

The LME, owned by trading houses and banks that use the market, said it was being advised by investment bank Moelis & Company but declined to identify its suitors.

Sep 20, 2011

Gold drops 2 percent as safe haven allure fades

NEW YORK/LONDON (Reuters) – Gold tumbled nearly 2 percent on Monday, with the U.S. dollar and Treasuries trumping bullion as preferred safe havens for investors seeking shelter from euro zone woes.

Trade remained unusually volatile despite a late revival in gold after some positive noises emerged from a Greek call with its lenders.

Sep 19, 2011

Gold down two percent as safen-have lure fades

NEW YORK/LONDON (Reuters) – Gold lost its appeal as a safe haven on Monday, falling over 2 percent as fears of a Greek debt default and larger euro zone problems drove investors into bonds and the dollar.

A meeting of European officials to tackle the region’s debt crisis ended without a solution, stoking fears of a possible Greek default. Investors got out of risky trades and took refuge in U.S. Treasuries and the dollar.

Sep 19, 2011

Gold rallies on deteriorating debt crisis

LONDON, Sept 19 (Reuters) – Gold prices rallied on Monday as
a series of political setbacks over the weekend reinforced fears
about the deteriorating euro zone debt crisis, prompting
investors to seek refuge in the precious metal.

Spot gold was bid at $1,821.00 a troy ounce at 0900
GMT from $1,810.73 late in New York on Friday. The precious
metal hit a record high of $1,920.30 on September 6.

Sep 16, 2011

Physical buying helps gold bounce from 2-wk low

LONDON, Sept 16 (Reuters) – Gold tumbled to a two-week low
on Friday as diminishing liquidity concerns after central banks
moved to provide dollars prompted a bout of selling, but strong
physical buying interest from Asia later helped the precious
metal to bounce.

Spot gold hit $1,761.94 a troy ounce, its lowest
since August 26. It was bid at $1,776.40 an ounce at 0945 GMT
compared with $1,788.64 late in New York on Thursday.