Stocks Rise as Mining Shares, Copper Gain; Portugal Bonds Drop

U.S. stocks rose, erasing most of yesterday’s drop, as higher metal prices lifted commodity shares, while oil gained as allied forces struck Libyan leader Muammar Qaddafi’s troops. Bonds of Europe’s most-indebted nations sank amid concern Portugal will need a bailout.

The Standard & Poor’s 500 Index climbed 0.3 percent to 1,297.54 at 4 p.m. in New York, reversing an early slide of as much as 0.8 percent. Copper rallied 2.7 percent amid growth in orders to draw the metal from exchange inventories. The yield on Portugal’s five-year bond increased 20 basis points to 8.18 percent after earlier surging to a record 8.20 percent. The euro weakened. Treasuries turned lower as the Federal Reserve bought less debt than average during a quantitative-easing purchase.