Copper Rises Most in Month on European Steps to Tame Debt Crisis
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Copper rose the most in a month as a proposed framework for a bailout fund in Europe boosted prospects that the region will tame a debt crisis that has slowed economic growth and demand for raw materials.
Europe’s rescue fund may insure bonds of debt-stricken countries with guarantees of 20 percent to 30 percent, depending on financial markets, according to guidelines that finance ministers will discuss this week. Copper also gained after U.S. retail sales jumped to a record over the Thanksgiving holiday. The U.S. is the world’s largest copper consumer after China. Global equity markets rose.