Bloomberg News

Copper May Gain on U.S. Outlook, Europe Optimism: LME Preview

December 20, 2011

Dec. 20 (Bloomberg) -- 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:

-- Asian stocks climbed from a three-week low, U.S. equity futures gained and Treasuries fell before data forecast to show U.S. housing starts rose. The euro traded 0.5 percent from an 11-month low before Spain sells bills. NSN LWHQVJ1A1I4H <GO>

-- Europe bolstered its anti-crisis arsenal, channeling 150 billion euros ($195 billion) to the International Monetary Fund as the European Central Bank widened its support for sagging bond markets. NSN LWH2AM0UQVI9 <GO>

-- German business confidence probably fell to the lowest in 21 months in December on concern Europe’s worsening sovereign debt crisis will hurt companies’ earnings and tip the economy into recession. NSN LWGP5J6KLVR4 <GO>

-- Builders probably began work on more homes in November, a sign the market may be stabilizing heading into 2012, economists said before a report today. NSN LWGZCB0D9L36 <GO>

-- The death of North Korea’s Kim Jong Il, one of the world’s most repressive leaders, has produced a new moment of danger that binds the interests of both allies and adversaries of the nuclear-armed country. NSN LWHOAL1A1I4H <GO>

Metals News:

--- Copper, aluminum and zinc advanced after a U.S. Federal Reserve official predicted economic growth next year, and European leaders stepped up their fight to contain the region’s sovereign-debt crisis. NSN LWHRCP0D9L37 <GO>

-- Poland’s Treasury Ministry plans to dismiss Herbert Wirth as the chief executive officer of KGHM Polska Miedz SA, the state- controlled copper producer, Puls Biznesu reported, without citing anyone or giving more detail. NSN LWHNZU6JTSE8 <GO>

-- JFE Holdings Inc., Japan’s second-largest steelmaker, expects to produce 6.7 milliom metric tons of steel in the October to December quarter. NSN LWHK996JTSEA <GO>

-- Trafigura Beheer BV told bondholders it held 0.9% of OAO GMK Norilsk Nickel, the Financial Times reported. NSN LWH3886K50XS <GO>

The Good Business Issue
blog comments powered by Disqus