Copper, Emerging Stocks Rise on China; Dollar Falls a Sixth Day
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Copper climbed to a record and shares in emerging markets gained for a third day as Chinese manufacturing expanded. The U.S. dollar weakened after lower-than-forecast American jobless claims increased demand for riskier assets.
Copper futures advanced 1.2 percent at the close of trading, bringing their gain this year to 30 percent. The MSCI Emerging Markets Index advanced 0.8 percent at 4:30 p.m. in New York and has risen 16 percent in the past year. The Dollar Index fell 0.4 percent, bringing its loss since Dec. 22 to 1.5 percent and trimming its annual gain to 2.1 percent. The Standard & Poor’s 500 Index, up 13 percent in 2010, lost 0.2 percent.