Copper Climbs for a Third Day on Greek Polls: LME Preview

Copper advanced for a third day after Greek opinion polls showed voters backed parties that support the European Union’s bailout, easing concern the country will exit the currency bloc and boosting the outlook for global growth and base-metals demand.

Market News:

-- European equity futures and Asian stocks rallied and the euro

-- Greek opinion polls showed voters warming to parties

-- Swiss National Bank President Thomas Jordan said controls on

-- The dollar fell against all bar one of its 16 major peers

-- Europe’s junk bond market is grinding to a halt as the

-- Speculators raised bullish bets on commodities before signs

Metals News:

-- BHP Billiton Ltd. will lose the right to proceed with the $33 billion Olympic Dam copper-uranium expansion in Australia if it

-- Supply disruption in Chile and strong demand from China may

-- Diego Hernandez resigned as chief executive officer of the

-- The Democratic Republic of Congo sold a stake in a mining company last year, according to company minutes, potentially

Metal Prices:

-- Copper gained 1.3 percent to $7,741 a metric ton by 8:09
a.m. on the London Metal Exchange. Relative Strength Index 41.
-- Aluminum rose 0.5 percent to $2,024 a ton. RSI 40.
-- Zinc was little changed at $1,909.75 a ton. RSI 42.
-- Lead was up 0.3 percent at $1,955 a ton. RSI 41.
-- Nickel advanced 0.4 percent to $17,110 a ton. RSI 46.
Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   81.928           -0.6            2.2
Crude oil           $91.81            1.1           -7.1
Gold                $1,581.30         0.5            1.1
MSCI World Index    1,194.28          0.5            1.0
Economic events:
                                    Forecast    Prior     Time
Italy Business Confidence     MAY    88.6       89.5       9:00


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