Copper fell in London amid concerns global metals demand may be waning after China’s manufacturing slipped to a seven-month low and ahead of reports that may show factory activity in the euro-area contracted and U.S. manufacturing grew at a slower pace.
-- Asian stocks headed for their longest winning streak since March and credit risk fell as manufacturing indicators in Japan
-- Chinese manufacturing indexes slipped to seven-month lows as
-- Manufacturing probably expanded in June at the slowest pace
-- Barclays Plc Chairman Marcus Agius resigned after the bank
-- BNP Paribas SA, France’s largest bank, may narrow a 40 billion-euro ($50 billion) funding gap in Italy and Spain by
-- Derivatives traders see at least a year of pain for the euro even after the currency surged the most in eight months
-- The pace of U.S. auto sales probably stalled for a second straight month in June as the labor market stumbled and
-- Hedge funds lifted their bullish commodity bets for a third
Metal Prices: -- Copper fell 0.8 percent to $7,624.75 a metric ton by 8:17 a.m. on the London Metal Exchange. Relative Strength Index 54. -- Aluminum declined 0.3 percent to $1,906 a ton. RSI 43. -- Zinc dropped 0.4 percent to $1,870 a ton. RSI 51. -- Lead gained 0.2 percent to $1,865 a ton. RSI 47. -- Nickel declined 0.1 percent to $16,712 a ton. RSI 49. -- Tin rose 0.1 percent to $18,800 a ton. RSI 40.
Other Markets: Last % Change % YTD U.S. Dollar Index 81.787 0.2 2.0 Crude oil $83.74 -1.5 -15.3 Gold $1,591.95 -0.3 1.8 MSCI World Index 1,235 -0.1 4.4
Economic events: Forecast Prior Time (London) France Manufacturing PMI JUN 45.3 45.3 8:50 Germany Manufacturing PMI JUN 44.7 44.7 8:55 EC PMI Manufacturing JUN 44.8 44.8 9:00 U.S. ISM Manufacturing JUN 52.0 53.5 15:00