Stocks fall with euro on Greece concern while commodities gain

Italy Bonds

Italy’s 10-year bond yield climbed 12.5 basis points to 5.18 percent, climbing from a five-month low of 5.04 percent set last week. Yields on Spanish securities of similar maturity increased seven basis points to 5.70 percent.

Food and beverage companies declined the most in Europe while metals producers led gains as the Stoxx Europe 600 Index slipped 0.2 percent. The gauge advanced 2.3 percent last week as ECB President Mario Draghi announced a bond-buying plan aimed at lowering borrowing costs in the euro region.

Mining Takeover

Xstrata Plc, the mining company that Glencore International Plc is attempting to acquire, climbed 1.2 percent today. Glencore said Xstrata Chief Executive Officer Mick Davis will step down six months after its planned takeover is completed under the sweetened and final terms of its $36 billion offer. Glencore shares slipped 2.1 percent.

Copper climbed as much as 1.5 percent to $3.70 a pound, the highest since May. China is the biggest buyer of the metal. Gold fell the most in more than three weeks, slipping 0.5 percent to $1,731.80 an ounce, as a stronger dollar curbed demand for the metal as an alternative investment.

In China, inbound shipments declined 2.6 percent in August from a year earlier, the customs bureau said in Beijing today. That missed the median estimate of a 3.5 percent gain, according to economists surveyed by Bloomberg. Imports rose 4.7 percent in July from a year earlier.

Industrial production in the world’s second-largest economy increased the least in three years last month, according to a report from the National Bureau of Statistics yesterday. Production increased 8.9 percent, compared with 9.2 percent in July. The median estimate of economists surveyed by Bloomberg had called for a 9 percent gain.

The MSCI Emerging Markets Index rose 0.1 percent. The Shanghai Composite Index added 0.3 percent, adding to a 3.7 percent surge on September 7, as gauges in Indonesia, Taiwan, Thailand and Turkey gained at least 0.3 percent.

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