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04-May2013

Copper futures moves up, registers strongest daily gain in 18-month

Copper futures rose more than 6 percent on Friday, its strongest daily gain in 18 months, as economic stimulus moves by central banks raised investor confidence over growth of industrial metals demand. Better-than-expected jobs growth in the United States gave copper an extra push, and propelled other markets, including Brent crude and US and European equities, higher.

Copper futures for most actively traded July delivery closed at $3.2900 per pound on the Comex metals division of New York Mercantile Exchange. While copper on the London Metal Exchange closed at $7,265 per tone.


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