Shares set to open little changed, GE in focus

(Reuters) - U.S. stocks surged on Thursday, with the Dow hitting a record on its biggest point gain since 2002 after healthy sales from retailers reassured investors about consumer spending and miner Rio Tinto's bid for Alcan raised the prospect of more consolidation.




On Thursday, the S&P 500 gained 1.9 percent, the Dow Jones put on 2.1 percent and the Nasdaq rose 1.9 percent.


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Australia's S&P/ASX Rises to a Record; BHP, Alumina Lead Miners Higher

(Bloomberg) -- Australia's S&P/ASX 200 Index climbed
to a record. BHP Billiton Ltd. and Alumina Ltd. jumped after Rio
Tinto Group's plan to buy Alcan Inc. spurred expectations of more
takeovers in the mining industry.

``It's more than likely that further consolidation will occur
in the mining sector,'' said Rob Patterson, who manages $3.2
billion at Argo Investments Ltd. in Adelaide, and holds BHP and
Rio Tinto shares. ``Rio clearly thinks it's a good idea and as a
shareholder I'm not going to pour acid on it.''


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UPDATE 1-Brazil's CVRD says doesn't rule out bid for Alcan

(Reuters) - CVRD, short for Companhia Vale do Rio Doce, said in a
statement that it "is always analyzing opportunities to
strengthen its strategic position, including acquisitions of
assets in the mining and metals industries."




CVRD issued the statement shortly after Anglo-Australian
miner Rio Tinto Plc/Ltd. agreed to buy Alcan
for $38.1 billion to create the world's biggest aluminum
producer. A source familiar with the deal told Reuters that
CVRD had also bid for Alcan, which has been fighting off
hostile advances by U.S. rival Alcoa Inc. .


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Rio Tinto May Borrow as Much as $40 Billion to Finance Alcan Acquisition

(Bloomberg) -- Rio Tinto Group will borrow as much
as $40 billion to finance the acquisition of aluminum producer
Alcan Inc., according to Moody's Investors Service.

Rio Tinto, the world's third-largest mining company, hired
Royal Bank of Scotland Group Plc, Deutsche Bank AG, Credit Suisse
Group, and Societe Generale SA to finance the $38.1 billion deal,
the London-based company said today in a statement. The all-cash
offer for Montreal-based Alcan will be funded from banks, Moody's
said, which would make it the second-biggest loan in Europe.


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Rio Tinto May Borrow as Much as $38 Billion to Finance Alcan Acquisition

(Bloomberg) -- Rio Tinto Group may borrow as much
as $38 billion, the second-biggest loan in Europe, to finance
the acquisition of aluminum producer Alcan Inc.

Rio Tinto, the world's third-largest mining company, hired
Royal Bank of Scotland Group Plc, Deutsche Bank AG, Credit
Suisse Group, and Societe Generale SA to finance the deal, the
London-based company said today in a statement. The all-cash
offer for Montreal-based Alcan means the company may use bank
loans to finance the entire deal.


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Stocks set to edge up, M&A in spotlight

(Reuters) - The Indicative Dow Jones industrial average , which tracks the 30 blue chips as they are traded on the Deutsche Boerse's electronic trading platform, XETRA, and translates the prices into dollars, was 0.28 percent higher.




"Takeover action will be a trigger for U.S. shares today," said Heinz-Gerd Sonnenschein, strategist at Germany's Postbank, pointing to Rio Tinto Ltd./Plc.'s $38.1 billion bid for Canadian aluminum company Alcan Inc. .


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Canada Stocks Rise on Profit, Buyout Speculation; Barrick and Alcan Gain

(Bloomberg) -- Canadian stocks rose, pushing the main
stock index to a record, as Barrick Gold Corp. gained on optimism
materials producers will profit from higher prices for gold and
copper. Takeover speculation also propelled the market.

Shares of Alcan Inc., Canada's biggest aluminum producer,
advanced on reports that Alcoa Inc.'s hostile takeover bid, which
expires tomorrow, may be topped by Rio Tinto Group. Alcoa is
scheduled to report second-quarter earnings today.


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Canadian Stocks May Rise on Earnings, Takeovers; Alcan, Barrick May Gain

(Bloomberg) -- Canadian stocks may rise for a third
day, led by shares of such raw-materials producers as Barrick Gold
Corp., on optimism earnings will increase as prices for gold and
copper rise. Takeovers may also propel the market.

Shares of Alcan Inc., Canada's biggest aluminum producer, may
be active on reports that Alcoa Inc.'s hostile takeover bid, which
expires tomorrow, may be topped by Rio Tinto Group. Alcoa is
scheduled to report second-quarter earnings today.


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Australian Shares Rise, Led by BHP, Rio Tinto on Higher Metals, Oil Prices

(Bloomberg) -- Australian stocks gained for a second
day. BHP Billiton Ltd., Rio Tinto Group and Woodside Petroleum Ltd.
climbed along with the price of commodities such as copper, zinc
and crude oil.

The S&P/ASX 200 gained 10.30, or 0.2 percent, to 6275.90 at
10:11 a.m. in Sydney. About the same number of shares rose and
fell. The index is set to decline 1.7 percent this week.


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European Stocks May Drop for Fifth Day; Total, BHP, Northern Rock May Fall

(Bloomberg) -- European stocks may fall for a fifth
day, paced by energy and basic-resources shares as crude oil
traded near a nine-day low and metals prices dropped.

U.S.-traded securities of Total SA and Eni SpA declined. BHP
Billiton Ltd. and Rio Tinto Group retreated in Australian
trading. Northern Rock Plc, the U.K.'s seventh-largest bank, may
fall after saying it sees 2007 profit growth missing analysts'
estimates as interest rates rose more than expected.


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Australian Shares Decline, Led by BHP Billiton, Rio Tinto on Lower Metals

(Bloomberg) -- Australian stocks fell, snapping three
days of gains. BHP Billiton Ltd. and Rio Tinto Group dropped after
metals prices declined.

``The bullishness we've seen among the mining stocks over the
past few years hasn't taken account of the risk of the global
economy slowing,'' said Angus Gluskie, who manages about $380
million at White Funds Management in Sydney. ``We have been very
aware of the potential for an economic pullback and so we haven't
been as keen on resources stocks as other investors.''


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Australian Coal Price Rises to Highest in Almost Three Years After Storm

(Bloomberg) -- The price for power-station coal at
Newcastle, Australia, the world's largest coal export port, rose
to the highest in almost three years after producers including
Rio Tinto Group cut shipments after a four-day storm.

The price of thermal coal for immediate delivery from the
port in New South Wales state increased $4.38 a metric ton to
$63.11 in the week ended June 15 from a week earlier, according
to the globalCOAL NEWC Index. The port resumed limited
operations last week and may run at near full capacity on June
20 after loadings were halted June 8.


Read more at Bloomberg Energy News

European Stocks May Rise; Daimler, BHP Billiton, Rio Tinto May Advance

(Bloomberg) -- European stocks may advance for a
second day, led by exporters and mining companies, after the
Federal Reserve said the world's largest economy is growing without
spurring inflation and copper prices gained in Asia.

DaimlerChysler AG and Barclays Plc will probably advance
after their U.S.-traded securities ended higher than the close in
Europe. BHP Billiton Ltd., the world's biggest mining company,
and Rio Tinto Group gained in Australia.


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U.K. Stocks Rally, Paced By Antofagasta, Xstrata, Rio Tinto; ISEQ Slides

(Bloomberg) -- U.K. stocks gained, led by
Antofagasta Plc. The owner of three copper mines in Chile rose to
a record after saying 2007 will be a ``good'' year as demand in
China, the world's biggest consumer of the metal, keeps prices
``firm.''

Rio Tinto Group and Xstrata Plc also climbed. J Sainsbury
Plc gained on renewed takeover speculation.


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Coal Shipments From Australia's Newcastle Port to Be Disrupted for Days

(Bloomberg) -- Coal shipments from Australia's
Newcastle port, the world's biggest coal-export harbor, will be
disrupted all week after storms closed the terminals and flooding
and landslips affected the railway to the port.

About two million metric tons of shipments may be lost as a
result of the disruptions which may last until June 15, the
Hunter Valley Coal Chain Logistics Team, the coordinator of coal
movements along the rail system and through the port, said in a
statement. BHP Billiton Ltd., the world's biggest mining company,
declared force majeure on deliveries, while Rio Tinto Group
closed three mines in the Hunter Valley.


Read more at Bloomberg Energy News

European Stocks May Drop on Bond Yields; BP, Rio Tinto May Decline

(Bloomberg) -- European stocks may decline for a
fifth day, the longest rout in three months, after rising bond
yields weighed on equities in the U.S. and Asia.

BP Plc and Total SA may fall after crude oil dropped from a
nine-month high. Rio Tinto Group may lead mining shares lower
after copper slid in Asia. BNP Paribas SA may pace advancing
shares after Les Echos reported Societe Generale SA is studying a
possible bid for its larger banking rival.


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Australian Stocks Drop For a Second Day; Rio, Woodside Petroleum Decline

(Bloomberg) -- Australian stocks fell for a second day,
led by Rio Tinto Group and Woodside Petroleum Ltd. after prices of
copper and crude oil dropped.

The S&P/ASX 200 Index lost 21.0, or 0.3 percent, to 6349.80
as of 10:20 a.m. in Sydney. About five stocks fell for every four
that gained.


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