This morning, officials from the G7 countries (U.S.A., Canada, Japan, Germany, France, Britain and Italy) held a conference call to discuss potential solutions to the pressing market crisis currently at play in world markets. This tentative plan includes a possible 700 billion dollar buyout of bad debts, including defaulted mortgages and other failed investments, with funding supplied by the US Treasury. This news is thought to signal a concrete strategy for dealing with the worst stock market crash since the Great Depression. Officials from the G7 countries are committed to doing all they can to stabilize the market and control the negative ramifications to investors worldwide. News of such an initiative has been welcomed by investors, and will help to quell doubts about putting money into institutions and investments. “We affirm our strong and shared commitment to protect the integrity of the international financial system and facilitate liquid, smooth functioning markets, which are essential for supporting the health of the world economy,” a G7 spokesman said this morning, with regard to the new plan. http://money.cnn.com/2008/09/22/news/international/powers_pledge.ap/index.htm?postversion=2008092210
With regard to commodities such as zinc and lead metals, the London Metal Exchange is reporting gains of up to 5 percent on zinc and lead spot prices, with a current high of 1844.00 per tonne for zinc, up 4.9 percent since yesterday’s closing price. For lead metals, gains of up to 5.3 percent are recorded, with the current spot price of $ 1985.00 per tonne (LME, Sept. 22/2008).
http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=7dc67090-97ba-41c0-84c8-1384b16cf13e
Price Increases At Hindustan, an Indian Zinc and Lead Company
In India, Hindustan Zinc has raised the price of their commodity, with lead now available for Rs 99,000 a tonne, according to company sources in New Delhi. Today’s bid/ask prices for Hindustan stock closed at 480.00 Rs, a decrease of 2.26 percent over yesterday’s closing prices.
Hindustan are India’s sole manufacturers of lead metal and lead metal, and they currently produce up to 754,000 tonnes per year. They have three smelters in India, and they are owned by Sterlite, an international conglomerate. http://www.hzlindia.com/index1.asp
Anglo American Stock Information
Anglo American Stock is down 2.7 percent on the London metal Exchange, with a current share price of 2327.00 (Sept. 22, LME): yesterday’s closing price was $ 2381.00. Anglo American is one of the world’s leading mining and exploration companies, and it is based in London, England. http://www.angloamerican.co.uk/aa/about/operate/
Canadian Zinc and Lead Companies – Business Developments
Teck Cominco (TCK: TSE): Teck Cominco stock is rallying despite market woes: it now rests at $ 36.75 per share, up from a year-low bid/ask of 28.00. The highest recorded stock price for Teck Cominco in 2008 was $ 52.90. http://teckcominco.com/Generic.aspx?PAGE=Investors&portalName=tc
Teck Cominco are a well-diversified mining and exploration company based in Vancouver, Canada. They are involved with the extraction of coal, copper, zinc and other metals, and they are currently part of a large oil-sands development . Teck Cominco trades shares on the Toronto Stock Exchange as well as the NYSE.
For more information on metals trading, please visit www.goldinvestingnews.com
