Market Report – Euro Caps Asia

In today’s market report… persistent worries about the euro area’s fiscal health kept investors in Asia on edge Tuesday, also weighing on the euro.

Stocks hovered near a three-month low struck on Monday, as materials shares followed metals prices lower on fears that China’s economy may be slowing.

A Chinese leading economic indicator on Monday showed that growth may already have peaked in the world’s third-largest economy.

In Australia, miner Macarthur Coal rejected a trimmed $3.3 billion takeover offer from U.S. miner Peabody Energy, saying it was too cheap and had failed to attract support from its top two shareholders.

The Australian firm’s shares sank 12 percent with no higher offer in sight.

It was Peabody’s fourth failed bid for Macarthur, a takeover target because of its pulverized coal, which is cheaper and cleaner coal coveted by steel-makers.

Separately, an informant for U.S. regulators probing fraud claims against Goldman Sachs has reportedly urged Australia’s markets watchdog also to investigate the U.S. bank.

The former hedge fund manager said many Australians had been sold subprime-related products marketed by Goldman’s local joint venture, Goldman Sach JBWere.

Foto: NTDTV