McCarthy on Macarthur Coal Bid, Gold, China Banks

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Aug. 30 (Bloomberg) -- Michael McCarthy, chief market strategist at CMC Markets in Sydney, talks about ArcelorMittal and Peabody Energy Corp.'s agreement to buy Macarthur Coal Ltd. for A$4.8 billion ($5.2 billion). Macarthur Coal's board recommends the offer. McCarthy also discusses the outlook for gold prices and Chinese banks. He speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)

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