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Gold/Mining/Energy : Falconbridge Ltd.( T.FL )
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To: Condor who wrote ()5/30/2000 7:42:00 AM
From: Condor   of 103
 
Falconbridge Ltd FL
Shares issued 177,041,400 May 29 close $22.95
Tue 30 May 2000 In the News
The Globe and Mail reports in its Tuesday, May 30, edition that trading in
nickel will resume today on the London Metal Exchange for the first time
since Inco reached a tentative labour agreement with its unionized work
force in Sudbury. The Globe's Allan Robinson writes that mining analysts
expect some turmoil in the markets as speculators wind up trading positions
established in anticipation of a strike. Nickel markets have been tight for
months, and a strike at a major producer such as Inco could have caused
prices to rise sharply. Longer-term strength in the nickel markets will
depend on the health of the United States economy. During June and July,
nickel traders are expected to begin speculating again on a possible strike
at the Sudbury mines of Falconbridge, Canada's second-largest nickel
producer, says Newcrest Capital analyst, David Davidson. That labour
contract expires Aug. 1. Terence Ortslan, an analyst with TSO & Associates,
expects there will be some short-term trading fluctuations, although nickel
markets should remain firm because of the strong demand and low level of
inventories.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
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