Aug. 19 - Glencore Xstrata looks set for a $7 billion writedown as nickel prices tumble, and copper is the worry for BHP Billiton, but fears of a Suez canal shutdown could be overblown.
Bring gorge -- are running the big number -- choose they they come off to sources told Royce is the firm can take a seven billion dollar write down on assets inherited from -- straws that. Nickel mines the big problem with prices for the metal languishing at less than a third of that 2007 times. Keep and I now for earnings from BHP Bennett's -- Solutia has a diversified miner on depression today. That's copper prices continued to slide. Oil prices the ought to focus for commodity markets with mounting speculation the unrest in Egypt could -- the Suez Canal CMC markets analyst Michael Hewson. Is worried that. Think given the problems that we sing in the Middle East this and the potential for to squeeze up to a 114. Dollars a barrel. I would be very very surprised to see -- much about that I think. Concerns about the Suez Canal someone I've missed I think I think they'll likely have a supply disruptions through that he's a very very slim indeed. German for years of Bryant's numbers the only data point to watch out for tomorrow prices seen rising again on the month with the annual Rachel -- in picking up pace. And watch out for an auction of Spanish T bills Madrid hoping to sell up to four billion euros of six and twelve month bills. The betting is on a strong sale with Spanish French bond yields down on eight of the last ten trading days. I -- -- had to -- as market moving events. So problems runs.