BLBG:Copper May Gain on U.S. Outlook, Europe Optimism: LME Preview
Copper may gain in London ahead of data forecast to show U.S. housing starts rose, boosting outlook for metals demand, and as European leaders stepped up their fight to contain the region’s sovereign-debt crisis.
Market News:
Metals News:
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Metal Prices:
-- Copper gained $24, or 0.3 percent, to $7,284 a metric ton by
7:43 a.m. on the London Metal Exchange. Relative Strength Index
41.7.
-- Aluminum gained 1.1 percent to $1983.50 a ton. RSI 39.9.
-- Zinc advanced 1 percent to $1,856.50 a ton. RSI 40.6.
-- Lead rose 0.4 percent to $1,945 a ton. RSI 39.1.
-- Nickel was unchanged at $18,380 a ton. RSI 52.3.
-- Tin was little-changed at $18,700 a ton. RSI 32.9.
Other Markets:
Last % Change % YTD
U.S. Dollar Index 80.263 0.1 1.6
Crude oil $94.38 0.5 3.3
Gold $1,599.82 0.4 12.6
MSCI World Index 1,135.35 0.0 -11.3
Economic events:
Forecast Prior Time
(London)
Germany IFO Business Climate DEC 106.0 106.6 9:00
U.S. Housing Starts NOV 635K 628K 13:30
U.S. Building Permits NOV 635K 644K 13:30
To contact the reporter on this story:
Maria Kolesnikova in London at
mkolesnikova@bloomberg.net
To contact the editor responsible for this story:
Claudia Carpenter at
ccarpenter2@bloomberg.net
