UPDATE 1-France's Edmond de Rothschild eyes China fund stake

(Reuters) - SHANGHAI, April 11 - French private bank La Compagnie Financiere Edmond de Rothschild Banque is in talks on buying a minority stake in a Chinese fund management company as it aims to expand in the country's capital markets, two sources familiar with the situation said on Wednesday.

LCF Edmond de Rothschild, one of the oldest private banks in Europe, has been in discussions with Shanghai-based Zhonghai Fund Management Co. on a possible deal since last year, although no agreement has been signed yet, the sources said.


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UPDATE 3-Japan machinery orders fall, but steady trend seen

(Reuters) - TOKYO, April 11 - Machinery orders at Japanese companies fell more than expected in February from the previous month, but the data did little to change the view that corporate investment remains strong.

Core private-sector machinery orders, a key gauge of corporate capital spending in the coming six to nine months, fell 5.2 percent in February from January, data showed on Wednesday.


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Alcoa profit rises; sees aluminum demand growth

(Reuters) - And Chief Executive Officer Alain Belda said the company expects more of the same as world demand for aluminum, much of it driven by China, continues to grow.

"Our markets remain robust, with Europe stronger than the U.S. and China continuing at a torrid pace," he told Wall Street analysts on a conference call.


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Apollo to buy Xstrata aluminum unit for $1.15 bln

(Reuters) - Xstrata acquired the aluminum business through its purchase of Canadian miner Falconbridge last year and had been conducting a review to decide whether to use it as a platform to build a bigger aluminum operation or sell it.

"Our review concluded that these assets do not provide Xstrata with the necessary scale or upstream exposure to represent a suitable entry point from which to build a world-class aluminum business," Chief Executive Mick Davis said in a statement.


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Rand steady before rates decicision

(Reuters) - South Africa's rand was steady against the dollar on Wednesday and market players said it would remain range-bound before Thursday's Monetary Policy Committee (MPC) decision on interest rates.

The rand was trading at 7.1535 to the dollar at 0625 GMT, not far off a New York close of 7.1550 on Tuesday.


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Apollo to buy Xstrata aluminium unit for $1.15 bln

(Reuters) - Anglo-Swiss miner Xstrata Plc said on Wednesday it was selling its aluminium business to private equity firm Apollo Management for $1.15 billion cash.

Xstrata acquired the aluminium business through its purchase of Canadian miner Falconbridge last year and had been conducting a review to decide whether to use it as a platform to build a bigger aluminium operation or sell it.


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European shares up as oil supports; M&A in focus

(Reuters) - European shares rose in early trade on Wednesday after U.S. shares rallied overnight and oil prices inched above $62 a barrel, with focus on merger and acquisition activity amid a thin agenda for corporate news.

The pan-European FTSEurofirst 300 index gained 0.2 percent to 1,551.24 points at 0803 GMT, having returned to levels seen before European shares were hit by a global stock market sell-off in February.


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