SINGAPORE, April 26 (Reuters) - London copper climbed to a
nine-day peak on Friday and was on track for its biggest weekly
gain in seven months, as hopes that the European Central Bank
would next week usher in another round of global easing
burnished the allure of risky assets.
* Three-month copper on the London Metal Exchange
climbed to $7,258 a tonne, its highest since April 17, before
steadying at $7,207.75 a tonne by 0114 GMT, extending gains of
2.1 percent from the previous session.
* Copper has rebounded by 7 percent from one and a half year
lows at $6,762.25 a tonne on Tuesday, for its biggest weekly
gain since mid-September, but is still down almost 10 percent
for the year.
* The most-traded August copper contract on the Shanghai
Futures Exchange climbed 1.9 percent to 51,970 yuan
($8,400) a tonne.
* The ECB is expected to cut interest rates next week but
that won't do much to pull the euro zone economy out of
recession, a Reuters poll of 76 economists showed on Thursday.
* The number of Americans filing new claims for unemployment
benefits fell last week by a surprisingly large 16,000, a sign
there is still gas in the tank for the labour market's recovery
despite signs of slower growth.
* U.S. economic growth likely rebounded in the first quarter
after almost stalling at the end of 2012 as Americans shrugged
off higher taxes and stepped up spending, but the trend is
* Peru will soon revise rules that affect how revenues from
mining royalties and taxes are used by provinces, its mine
minister said on Thursday, as the government makes a bid to
unlock piles of cash that often sit idle.
* For the top stories in metals and other news, click , or
* Asian shares steadied on Friday, tracking global equities
higher after upbeat U.S. labour market data, with investors
turning their attention towards corporate earnings to assess the
outlook for growth after a recent run of soft global data
* The dollar traded near a four-year high against the yen.
N/A Bank of Japan policy decision
0600 Germany Import prices
0645 France Consumer confidence
0800 Euro zone M3 money supply
1230 U.S. Q1 GDP
Base metals prices at 0114 GMT
Metal Last Change Pct Move YTD pct chg
LME Cu 7207.75 27.75 +0.39 -9.10
SHFE CU FUT AUG3 51970 990 +1.94 -9.90
HG COPPER MAY3 325.95 2.25 +0.70 -10.76
LME Alum 1941.00 -1.00 -0.05 -6.28
SHFE AL FUT AUG3 14690 35 +0.24 -4.27
LME Zinc 1930.00 -6.00 -0.31 -6.47
SHFE ZN FUT AUG3 14820 -725 -4.66 -4.66
LME Nickel 15475.00 35.00 +0.23 -9.79
LME Lead 2069.00 -7.50 -0.36 -11.58
SHFE PB FUT 14020.00 85.00 +0.61 -8.07
LME Tin 21110.00 0.00 +0.00 -9.79
LME/Shanghai arb^ -102
Shanghai and COMEX contracts show most active months
^ LME 3-month copper in yuan, including 17 pct VAT, minus SHFE third month
($1 = 6.1707 Chinese yuan)
(Reporting by Melanie Burton)
((email@example.com)(+65 6870 3017)(Reuters
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