Copper sinks to five-week low on US growth fears

(Reuters) - Fresh signs of economic trouble in the United States beat copper down to five-week lows on Monday, but analysts expect strong demand from China to buoy the metal used widely in the construction and power industries.

London-listed miners were down on the back of broader market weakness. Britain's was down 0.2 percent while BHP Billiton, Rio Tinto and Xstrata were down between half a percent and 2.3 percent.


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Delphi reaches tentative deals with four unions

(Reuters) - CHICAGO, Aug 6 - Auto parts maker Delphi Corp. said on Monday it has reached tentative agreement on new contracts with four more unions, key steps in its plan to reorganize and exit bankruptcy.



Delphi said it has signed a memorandum of understanding with the four unions covering work-force transition, pension and other issues. The company said it would not release details on the agreements until union members have voted on them.


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Two-Year Treasury Note Yields Fall to 18-Month Lows as Global Stocks Drop

(Bloomberg) -- Treasuries were little changed, with
two-year note yields near the lowest in 18 months, as European
and Asian stocks dropped.

Two-year note yields declined 2 basis points, or 0.02
percentage point, to 4.4 percent at 8:30 p.m. in New York,
according to bond broker Cantor Fitzgerald LP. The price of 4
5/8 securities due in July 2009 rose 1/32, or 31 cents per
$1,000 face amount, to 100 14/32. Bond yields move in the
opposite direction of prices.


Read more at Bloomberg Bonds News

UPDATE 1-Dexia to address investor concern on subprime

(Reuters) - Analysts have said that Dexia might be exposed through its
U.S. subsidiary Financial Security Assurance Inc .




"Dexia has received over the last days questions on the
issues of U.S. subprime mortgages and CDOs , and on the crisis' impact for FSA itself and for
Dexia as a whole," it said in a statement.


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Stock futures rise, suggest respite before Fed

(Reuters) - The Fed releases its decision on Tuesday and is expected to leave interest rates unchanged at 5.25 percent. Interest rate futures show traders are betting on the central bank delivering at least one rate cut by the end of this year.




By 0927 GMT September S&P futures were up 0.5 percent in Europe but still around their lowest in nearly five months.


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French Stocks Retreat; Axa and Credit Agricole Retreat as Natixis Jumps

(Bloomberg) -- French stocks declined for a
third day in four. Financial companies including Axa SA and
Credit Agricole SA led the retreat.

The benchmark CAC 40 Index dropped 29.47, or 0.5
percent, to 5568.42 as of 12:51 p.m. in Paris. The SBF 120
Index fell 0.5 percent to 4064.15.


Read more at Bloomberg Stocks News

Oil Falls a Second Day on Concern Subprime Debacle Will Reduce U.S. Growth

(Bloomberg) -- Crude oil fell for a second day in
New York on concern the subprime-debt debacle will reduce U.S.
economic growth.

A U.S. slowdown may cut demand for oil, which has fallen 6
percent since reaching a record $78.77 on Aug. 1. Global stock
and metals prices fell today on concern the rout in U.S. debt
markets may erode growth. OPEC oil production rose last month by
the most since September 2004, a Bloomberg News Survey showed.


Read more at Bloomberg Energy News