Copper Gains as China May Buy Europe's Bonds: LME Preview
Copper rose for the first session in four days in London after Chinese Premier Wen Jiabao underlined that China is willing to invest in Europe’s bond market, potentially easing the region’s debt crisis and improving the outlook for metals demand. The euro gained.
Metal Prices: -- Copper rose 0.5 percent to $7,613.75 a metric ton by 8:27 a.m. on the London Metal Exchange. Relative Strength Index 54. -- Aluminum declined 0.2 percent to $1,889.75 a ton. RSI 51. -- Zinc gained 0.2 percent to $1,859.25 a ton. RSI 55. -- Lead fell 0.5 percent to $1,967 a ton. RSI 61. -- Nickel gained 0.1 percent to $16,315 a ton. RSI 58. -- Tin dropped 0.9 percent to $19,450 a ton. RSI 56. Other Markets: Last % Change % YTD U.S. Dollar Index 81.454 -0.1 1.6 Crude oil $95.27 -0.2 -3.6 Gold $1,659.20 0.2 6.1 MSCI World Index 1,282.05 -0.1 8.4 Economic events: Forecast Prior Time (London) Germany Unemployment Change (000s) AUG 7K 7K 8:55 Euro-zone Consumer Confidence AUG -24.6 -24.6 10:00 U.S. Personal Income JUL 0.3% 0.5% 13:30 U.S. Personal Spending JUL 0.5% 0.0% 13:30 U.S. Initial Jobless Claims AUG 25 370K 372K 13:30 To contact the reporter on this story: Maria Kolesnikova in London at email@example.com To contact the editor responsible for this story: Claudia Carpenter at firstname.lastname@example.org
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