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MarketScreener Homepage  >  Commodities  >  LME Copper Cash       

LME COPPER CASH

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Materials Up As Copper Hits Seven-Year High -- Materials Roundup

12/01/2020 | 04:35pm EST

Producers of metals and other raw materials rose as growing risk appetite in global markets propelled copper prices to seven-year highs.

One strategist said "value" sectors like raw materials were drawing investors looking to play the "reopening theme," despite uneven economic data and spikes in coronavirus case counts.

"We're already starting to see some temporary setbacks in the economy, but I think the market is really looking through that and really looking out to what does the world look like in June, what does world look like in September of next year," said Eric Marshall, president of Dallas mutual-fund firm Hodges Capital.

The stock market, Mr. Marshall said, is "pricing in" a widely available Covid 19 vaccine in the coming months.

Gold futures bounced off a roughly five-month low, rising by more than 2% to $1814 an ounce, as a weak U.S. dollar spurred gains.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

12-01-20 1634ET

Stocks mentioned in the article
ChangeLast1st jan.
GOLD -1.04% 1827.635 Delayed Quote.-2.69%
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