Copper prices rose for a third day in New York, the longest string of gains in a month, as climbing equity markets and rising Chinese manufacturing boost the outlook for the global economy. The MSCI World Index of equities jumped as much 3.5 percent on mounting evidence the worst of the global recession may be over. China’s manufacturing expanded in March for the first time in six months, the Federation of Logistics and Purchasing said today in Beijing. Before today, copper had gained 31 percent this year on speculation demand will rebound. “As the stock market holds firm, you’re getting a little more optimism in copper,” said Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago. “These markets are starting to look forward and things are looking better.” Copper futures for May delivery added 2.6 cents, or 1.4 percent, to $1.875 a pound at 9:36 a.m. on the Comex division of the New York Mercantile Exchange. The metal gained 4.7 percent in the past two sessions. On the London Metal Exchange, copper for delivery in three months advanced $60, or 1.5 percent, to $4,120 a metric ton ($1.87 a pound). The price reached a record $8,940 on July 2.

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