Material company shares fell as gold prices declined for the fifth time in the last six sessions.

Anglo American rejected Australian mining giant BHP's plea to extend $50 billion takeover talks, hours before the deadline for BHP to commit to an offer or walk away.

BHP, the world's largest miner by market cap, earlier in the day outlined a range of measures aimed at addressing Anglo's concerns about the structure of the proposed deal.

Write to Patrick Sullivan at

(END) Dow Jones Newswires

05-29-24 1724ET