By Allen Sykora Of DOW JONES NEWSWIRES Copper futures are steady to marginally higher early Friday, stabilizing with the euro. Movement after the monthly jobs report was muted. Copper initially ticked higher but quickly gave up the modest gain. Around 9:12 a.m. EDT (1312 GMT), copper for July delivery rose 0.60 cent, or 0.19%, to $3.1230 per pound on the Comex division of the New York Mercantile Exchange. A New York trader said copper drew a slight bid when the euro rose against the dollar overnight. The European currency was helped by comments from Germany's finance minister saying debt-strapped Greece would not be allowed to fail and also news that Group of Seven officials plan to hold a conference call to discuss Greece. A softer dollar helps commodities by making them less expensive in other currencies. Bob Haberkorn, senior market strategist in Chicago with Lind-Waldock, commented that the recent price retreat in copper is being used as a buying opportunity by some speculators. "Everyone is searching for bargains right now after yesterday's big fall," he said. Still, he said, traders are cautious. The key for the day may be equities, Haberkorn said. Stock-index futures are higher so far, and stronger equities tend to improve sentiment toward the economy and thus potential copper demand. Benchmark copper, which fell 19% from the April high to this week's low, has settled lower for four straight trading days, with pressure coming from a recently stronger dollar, risk aversion among many traders as European debt problems dominated the headlines, plus concerns about more potential tightening in China. The widely anticipated monthly U.S. jobs report ended up being "mixed" for the markets, Haberkorn said. Actual employment rose; however, the unemployment rate also rose with more workers looking for jobs. July copper was at $3.1295 one minute ahead of the report, then blipped up to $3.1400 before backing down again. U.S. April non-farm payrolls rose 290,000, the largest increase since March 2006 and well above the consensus forecast for a 180,000 rise. Furthermore, the March payrolls were revised upward to 230,000 from the previously reported 162,000. However, the April unemployment rate rose to 9.9%, after expectations that it would remain at 9.7%. -By Allen Sykora, Dow Jones Newswires; 541-318-8765; allen.sykora@dowjones.com

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