Gold Little Changed in Asia After Dollar Gains Against Yen; Tokyo Declines

(Bloomberg) -- Gold was little changed in Asia after earlier rising as a gain in the U.S. dollar against the Japanese yen sparked buying in the dollar-denominated gold for immediate delivery and selling in yen-denominated gold futures in Tokyo.

The Japanese yen is heading for a fourth weekly decline against the dollar as signs of weakening growth are likely to keep the Bank of Japan from lifting borrowing costs anytime soon. Declines in the yen have made some gold futures contracts traded in Japanese yen on the Tokyo Commodity Exchange more expensive than the gold for immediate delivery traded in U.S. dollars.


Read more at Bloomberg Commodities News

Danubius, Voestalpine, Zentiva May Move: Central European Equity Preview

(Bloomberg) -- The following stocks may rise or fall in central European markets. Symbols are in parentheses and prices are from the previous close.

The NTX Index of 30 companies in the region slipped 0.1 percent to 1913.78.


Read more at Bloomberg Stocks News

Merrill's China Chairman Liu Erhfei Says Stock Valuations `Out of Control'

(Bloomberg) -- Merrill Lynch & Co.'s China chairman said investors should pare their holdings in the nation, where the benchmark stock index has rallied 84 percent this year.

``Valuations are too high and it's getting out of control,'' Liu Erhfei told a private equity conference in Beijing. ``This is a good time to exit, which by definition means it's a bad time to invest.''


Read more at Bloomberg Emerging Markets News

M&A talk boosts European shares, earnings eyed

(Reuters) - European shares were slightly higher in early trade on Thursday, amid fresh takeover talk and a series of earnings updates, tracking rallies in U.S. and Asian shares overnight.

Trading is expected to be thin with some European markets, including the Nordic markets, Austria, Switzerland, closed for a holiday.


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Union to demand double-digit pay rise from Implats

(Reuters) - South Africa's National Union of Mineworkers (NUM) will demand at least a double-digit wage rise from the world's second biggest platinum producer Impala Platinum, an official said on Thursday.

"For Implats, we are looking at a variety of issues in terms of the wages but we are looking for nothing less than a double-digit increase for us to even consider," spokesman Lesiba Seshoka said.


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China worries drag down base metals

(Reuters) - Industrial metals prices fell on Thursday, with copper dropping to a six-week low and dragging down the whole market on signs of oversupply in China, the world's top consumer of metals.

Copper for three months delivery on the London Metal Exchange touched $7,260 a tonne, its lowest since April 4, before bouncing back to $7,380 in the official session, still down by 3 percent or $230 from Wednesday.


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Gold loses one pct as investors step away

(Reuters) - Gold fell by around one percent on Thursday extending the previous day's losses to a six-week low, hurt by a stronger dollar, long liquidation and sharp losses in the base metals complex, traders said.

Spot gold fell as low as $655.79, its weakest since the end of March. It last traded at $656.40/656.90 an ounce by 1414 GMT, down from $661.60/663.10 late in New York on Wednesday.


Read more at Reuters Africa