Reuters: Hot Stocks: China Molybdenum shares open up 5.1 pct after Rio Tinto deal

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China Molybdenum shares open up 5.1 pct after Rio Tinto deal Jul 31st 2013, 01:34 HONG KONG, July 31 | Tue Jul 30, 2013 9:34pm EDT HONG KONG, July 31 (Reuters) - Shares of China Molybdenum Co Ltd rose 5.1 percent on Wednesday as its Hong Kong-listed stock resumed trade after Australian regulators cleared its purchase of a majority stake in the Northparkes copper mine from Rio Tinto. The shares are set to open at HK$3.07 per share, their highest opening since June 10, outpacing a 0.3 percent fall in the benchmark Hang Seng Index. Australia's foreign investment board approval of the purchase of a majority stake in Northparkes cleared a significant hurdle for the $820 million deal. (Reporting by Donny Kwok; Editing by Paul Tait)

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