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BHP, Incitec Lead commodity stocks lower on recession concern

Posted on 03 October 2008

From Bloomberg: BHP Billiton Ltd., the world’s biggest mining company, and Incitec Pivot Ltd. led declines in commodity stocks on concern a U.S. recession will further reduce prices and demand for raw materials.

BHP slipped as much as 5.6 percent to the lowest in 18 months and Incitec Pivot slumped to the lowest since July 2003 on the Australian Stock Exchange. Commodities are heading for the biggest weekly decline in more than 50 years on concern the spreading financial crisis may slash demand….. Full Article: Source


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