Alcoa +6% as LME warehouse reforms in doubt after court ruling

|By:, SA News Editor

Alcoa (AA +6.1%) shares are surging after a U.K. court ruling that for now nixes a planned overhaul of warehouse operations by the London Metal Exchange.

The High Court in London ruled in favor of Russian aluminum producer Rusal, which fears prices of its products will suffer from the LME's efforts, that the consultation process had been unfair.

LME reforms designed to make owners of warehouses in the exchange's global network deliver metal more quickly to consumers had been due to take effect April 1.