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COPPER SELL-OFF

COPPER SELL-OFF

China concerns

Traders are closing out positions on copper stocks before new manufacturing data from China amid fears that China faces an economic slowdown. Ivanhoe Mines fell 11?, or 9.4 per cent, to close at $1.055, while PanAust dropped 21?, or 7.8 per cent, to $2.48.

Malcolm Maiden Comment, Page 8

FDA CONCERNS

CSL takes action

The pharmaceutical company CSL says it has addressed the majority of the manufacturing flaws highlighted by the US Food and Drug Administration last year and earlier this year, and any remaining concerns are being resolved.

GAMING

Echo appointments

Echo Entertainment Group, whose interests include The Star casino in Sydney, has appointed John Redmond and Anne Brennan as directors. Mr Redmond is a director of Tropicana Las Vegas Hotel and Casino, while Ms Brennan is on the boards of Argo, Myer and Nufarm.

TAKEOVERS

CSG ponders bid

The IT services group CSG says it is considering a $340 million takeover offer from an unnamed bidder. CSG has received a non-binding, indicative and confidential proposal at $1.20 a share, with no adjustment for its final dividend of 3? a share.


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