Copper climbed for a second day on speculation demand from China and the U.S., the world’s biggest consumers of industrial metals, remains robust, and after hedge funds boosted bets on a rally to the highest since August.
-- Asian stocks fell for a second day as corporate profits trailed estimates and Italy’s prime minister warned that Spain
-- Italy’s Prime Minister Mario Monti warned that Spain could
-- German business confidence probably held at a seven-month
-- The good news: China’s government will engineer a soft landing. The bad news: Even a soft landing is painful for
-- Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., said the Federal Reserve will
-- Chile was struck by a 7.1-magnitude earthquake yesterday, cutting power and telephone service and triggering evacuations in the same coastal areas devastated by a tsunami in 2010. An
-- First Quantum Minerals Ltd. said it estimates its Sentinel
-- Hedge funds wagered the wrong way on commodity prices for a
-- Billionaire Oleg Deripaska’s En+ Group held talks to buy
Metal Prices: -- Copper rose 0.3 percent to $8,400 a metric ton by 7:39 a.m. on the London Metal Exchange. Relative Strength Index 49. -- Aluminum gained 0.3 percent to $2,180.75 a ton. RSI 42. -- Zinc dropped 0.1 percent to $2,003 a ton. RSI 42. -- Lead gained 0.2 percent to $1,998 a ton. RSI 38. -- Nickel jumped 0.7 percent to $18,300 a ton. RSI 34. -- Tin advanced 0.2 percent to $22,260 a ton. RSI 39.
Other Markets: Last % Change % YTD U.S. Dollar Index 79.455 0.1 -0.9 Crude oil $106.44 -0.4 7.7 Gold $1,662.59 0.0 6.3 MSCI World Index 1,307.34 -0.1 10.6
Economic events: Forecast Prior Time (London) Germany IFO Business Climate MAR 109.6 109.6 9:00 U.S. Pending Home Sales MoM FEB 1.0% 2.0% 15:00 U.S. Dallas Fed Manuf. Activity MAR 16.0 17.8 15:30