UPDATE 1-Rio Tinto says to unwind Alcan hedgebook

(Reuters) - "Assuming we go through with the deal, it will all be wound
down," a Rio Tinto spokesman said on Monday.




Rio's policy is not to hedge -- make future sales at a known
price -- any of the commodities it produces, and it intends to
bring Alcan into line with this.


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Australia's S&P/ASX 200 Rises to Record, Led by Woodside: Rio Tinto Slips

(Bloomberg) -- Australia's S&P/ASX 200 Index rose,
set for a record high. Woodside Petroleum Ltd. and Roc Oil Co. led
gains after crude oil climbed to an 11-month high on speculation
maintenance closures in the North Sea may limit global supplies.

Rio Tinto Group fell for a second day after announcing it had
agreed to buy Alcan Inc. for $38.1 billion, increasing its debt.


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Copa Holdings, Fleetwood, Playtex, Spectrum Brands: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 11:40 a.m. New York time.

Alcoa Inc. (AA US) rose $1.91, or 4.2 percent, to $47.20.
The world's second-biggest aluminum maker said yesterday it
withdrew its unsolicited takeover bid for aluminum producer Alcan
Inc. (AL US) after Rio Tinto Group (RIO AU) made a higher offer
of $38.1 billion. Separately, Credit Suisse Group increased its
share-price estimate for Alcoa by 22 percent to $55, saying that
takeover speculation would support the stock. Alcan shares fell
45 cents to $98.


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Miners boost S.Africa stocks; outlook hits Angloplat

(Reuters) - South African shares muscled to a record high on Thursday as a stronger gold price and Rio Tinto's bid for Alcan powered mining stocks but Anglo Platinum sank on a disappointing trading update.

The Johannesburg Top-40 index of blue-chip stocks rose 0.54 percent to 27,028.86 points, a historic closing peak, while the All-share index gained 0.49 percent to 29,789.95 points, also a record.


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US STOCKS-Wall St advances on retailers; Alcoa gains

(Reuters) - NEW YORK, July 12 - U.S. stocks advanced on
Thursday, lifting the Dow to a record, after major retailers,
including Wal-Mart Stores Inc. posted surprisingly
strong monthly sales figures, boosting optimism about the
outlook for profits.




Shares of Alcoa hit a record high, rising after Alcoa was
outbid in its attempt to acquire rival Alcan Inc.



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Alcan contracts Areva to build Saguenay power unit

(Reuters) - Alcan unveiled plans for the AP50 project in December of
last year. The Montreal-based aluminum producer is currently
the target of an unsolicited takeover attempt by U.S. rival
Alcoa .




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Alcoa Q2 profit slips; extends Alcan offer

(Reuters) - Alcoa also extended its $28.6 billion offer to acquire Canadian rival Alcan Inc by a month. The offer, which has been rejected by Alcan, was due to expire on Tuesday.




Alcoa said earnings from continuing operations were $716 million, or 81 cents per share, compared with $749 million, or 85 cents per share, in the same quarter of last year. Revenue rose to $8.1 billion from $7.8 billion.


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Canadian Stocks Gain on Takeover Talk; Alcan, Research in Motion Advance

(Bloomberg) -- Canadian stocks rose for a third time in
four days and headed for a weekly gain, as takeover speculation
lifted shares of raw-materials producers and telephone companies.

Alcan Inc. advanced on a report that Rio Tinto Group hired
bankers to help it consider a bid for the aluminum maker. Telus
Corp. extended gains made following BCE Inc.'s takeover last week
in the biggest buyout. Research in Motion Ltd. fell after reaching
a record yesterday.


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Alcan says Alcoa bid lacking, mulls options

(Reuters) - "We've said that from the outset that we were in discussion with third parties," Michaud said. She declined to identify the third parties.




Earlier on Friday, Alcoa said U.S. Department of Justice antitrust investigators had asked it for additional information regarding its May 7 offer for Alcan. Alcoa said it had a detailed road map to resolve competition issues.


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Aluminum May Pace LME in Second Half as Mergers, China Slash Global Supply

(Bloomberg) -- Aluminum, the worst performer on the
London Metal Exchange since 2002, has the best chance to advance
for at least the next six months.

A growing number of investors say takeovers of Alcan Inc. of
Canada and Russia's OAO Sual Group may reduce aluminum production
as China, the world's largest supplier, cuts exports. Aluminum
will be the only metal on the LME to gain for the rest of 2007,
while copper, nickel, zinc and tin decline, futures markets show.


Read more at Bloomberg Emerging Markets News

BHP Billiton revives Alcoa bid plans: paper

(Reuters) - Alcoa has itself made a $28.4 billion cash-and-stock hostile takeover offer for Alcan Inc. .




BHP was not immediately available for comment.


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