Global Stocks Head for Worst Month Since 2012 on China Woes
Copper futures due in December slipped 1.2 percent on the Comex. The London Metal Exchange is closed Monday.
West Texas Intermediate crude dropped 1.3 percent to $44.64 a barrel. Oil fell below $40 a barrel this month, the lowest since February 2009, on concern slowing demand in the U.S. and China will leave the global market oversupplied.
Egypt’s EGX 30 Index climbed 2.8 percent, the most worldwide, as investors speculated an offshore natural gas discovery would end a domestic supply shortage and boost exports. Eni SpA said yesterday it discovered a natural gas field in the country’s Mediterranean waters that may hold 30 trillion cubic feet of the fuel.
--With assistance from Adam Haigh in Sydney, Alan Soughley in Singapore, Roxana Zega in Zurich, Paul Dobson in London, Emma O'Brien in Wellington and Nick Gentle in Hong Kong.
To contact the reporters on this story: Stephen Kirkland in London at skirkland@bloomberg.net; Jeremy Herron in New York at jherron8@bloomberg.net To contact the editors responsible for this story: Stephen Kirkland at skirkland@bloomberg.net
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