Capstone Mining Corp., the owner of copper mines in Mexico and Canada, agreed to buy BHP Billiton Ltd.’s Pinto Valley mine and a railroad in the U.S. for $650 million in cash, marking its biggest acquisition.
The Canadian dollar rose against the majority of its 16 most-traded peers as crude oil, the country’s largest export, rose for a third day and traders bet the country would be less affected by falling metal prices.
Argentina may learn at any time whether a U.S. appeals court will rule that it must pay $1.4 billion to holders of its defaulted debt, something the South American country has resisted for more than a decade.
Argentina, which defaulted on a record $95 billion in sovereign debt in 2001, proposed giving holders of $1.3 billion of the repudiated bonds about one-sixth of what a U.S. judge has said they’re entitled to receive--a move one analyst called “thumbing its nose at the court.”
The Canadian dollar fell against its U.S. counterpart for the first time this week as U.S retail sales dropped the most in nine months and on reports that steps to strengthen Europe’s financial system were faltering.