glencore xtrata. the mining giant could write down $7 billion when it releases earnings on tuesday. according to reuters, the group has been assessing xstrata'ssting assets following the completion of the takeover in may. the writedown is expected to focus on a nickel mine in new caledonia. still with sus is chris tinker. glencore knew that it was getting into choppy waters with that xstrata takeover because of its nickel and copper exposure. if this is confirmed tomorrow, would that be a big surprise to you? >> i think it would just be in line with what i think the market has already been anticipating from the large mining conglomerates on a broader basis which is a review of longer term base metal expectations from a value perspective. and demand patents from a cost perspective. the mining industry has been through a cycle. talk about commodity supercycle. it's been through an amazingly damaging cost cycle. and as a consequence, even a modest topping out in demand was seeing margins getting squeezed significantly through the sector. if you look at any sect northe european markets or global sectors and look at the materials in the mining sec

weighing on the overall markets, and this really is company related because we had numbers from glencore xstrata and saw that big $7.7 billion writedown. that was bigger than expected on the back of those xstrata assets. we knew a writedown was coming, but it is larger than what the market had been anticipating and the stock is off by 3.67%. underlying earnings were actually in line with expectations. now, the other company i want to talk about is bhp billiton. weak numbers, 15% drop in first half net profit hit by weaker metal prices. that stock also dipping lower. in the forex space, safe haven buying in the dollar yen. that's why the yen is higher against the dollar. the dollar is off by a third of 1%. the aussie dollar back below the 91 handle, off by half of 1% after a slightly more dovish than expected rba. back over to you guys. >> all right, carolin, thanks. >>> programming note, we'll talk to the cfo of bhp billiton at 7:00 eastern and probably warn him, i know where you're going to go with that. you're going to want to talk about all of the glaxo type stuff that bhp billiton is involve

latest the results including a 7 billion-dollar write-down of assets following the merger of glencore and xstratas year. that is latest from the fox business network, giving you the power to prosper. dennis: tensions are high on the sinai border after excuse style slaying of 25 off-duty policemen. egypt stock market is ending three days of declines. we head to fox news's leland vittert. the army detained a top leader of the muslim brotherhood. what do you have on that? >> seems like, dennis, the markets may have been reacting to just that fact. the army has been able to round up much of the brotherhood leadership. there are not nearly as popular as they used to be. 9 army took a gamble rounding these guys up possibly sparking more protests on the street. it appears the brotherhood's ability to put people out on the street and create chaos on the street just isn't there like when they won the elections. they arrested the key leader after president mohammed morsi. the president was deposed there a few weeks ago. he was leading a number about major protest. the army put him in jail. they're taking a

this is on press reports over the weekend indicating glencore will be writing down $7 billion in assets tied to its xstrata assets mainly in nickel and copper. >>> finally the bond markets. i know you guys are watching the ten-year treasury yield inching ever so close to the 3% level. currently 2.86%. 69% rather. but the current yield at 2.74%. and the german yields for the ten-year at a 17-month high. guys, back over to you. >> very good carolyn. thank you. we appreciate it. >>> now dick cohey is joining us. for the last two weeks, i don't know, there has not been a voice of reason around or something. i'm not sure what has happened. >> supposedly he goes on vacation and the markets go down. >> here's my point. if i were trying to take a half full view of what we've seen, as the fed slowly starts to do what it is doing, i would like to see a slow move up in the ten-year. i'd like to see it go up to 2.70, back to 2.50. up to 2.75, back to 2.55. i'd like to see it where it is but react like it was predicted to do but not have a huge dislocation. and it seems like everything is going according to plan from w

glencore an interesting trade that was off very heavily after posting that first half loss because of the massive writedowns on assets after they acquired xstratanaging to rack up gains of just under 5% after its earnings beat expect takings and r and oil guidance for this year. even though we had gains in tokyo, one stock that lost a tremendous amount of ground was tepco, the operator of the fukushima daiichi nuclear plant. apparently 300 tons of water leaking out of the storage tank there. the stock ended down about nine plus percentage. they'll ratchet up the warning level to number 3. that was a big concern. a lot of nervousness ahead of the release of the fomc minutes tonight in the united states. >> adam, thank you for that. we'll talk more about the fomc minutes and our expectations for that later on in the show. first, i want to bring you numbers from toll brothers. this, of course, is one of the leading u.s. builders of luxury homes. numbers look to be in line with expectations, at least as far as the ebs number goes. 26 cents a share. the company saw third quarter revenue s of 689.2 million. this is slightly lower than the forecast, w

glencore xstrata shares off by 3%. this company wrote down the value of assets inherited from xstrata by some $7.7 billion. this is more than expected, and it announced a 9% drop in core profit in the first set of full results since the commodities group was created. on to some better news in switzerland and chocolate. shares of lind and sprungli were sweetened, sales up by 8.7% in the first half of the year. and shares, as you can see, up by 2%. m&a news to tell you about. german profit group deutsche bund offered an all share bid for gsw. the deal would create a company focused on thriving real estate market in berlin and gsw up by 7.87%. >>> in the bond markets, we're still seeing yields at fairly elevated levels at two-year highs for ten-year treasuries and saw two-year highs for the 30-year space. the yield still above 2.8%, it was as high as 2.9% in yesterday's trading session. same goes for the ten-year gilt yields, still close to the two-year high at 2.7%. keep in mind, we do see a spanish bill auction later on