COMMODITIES: Copper Jumps 6%, Posts Strongest Gain in 18 Months; Freeport and Southern Copper Among Those To Benefit


Copper jumped more than 6% today, its strongest daily gain in 18 months, after a

better-than-expected reading on jobs growth in the United States gave traders enough reason to jump back into the market. Also contributing to the rise, said analysts, was the fact that the market was in oversold territory.

Benchmark copper on the London Metal Exchange closed at $7,265 per tonne from a close of $6,848 on Thursday.

Copper miners saw a rally in their stocks today, following copper's ascent. Freeport McMoRan Copper & Gold ( FCX ) shares are up 3.2% while Southern Copper ( SCCO ) shares are up 4.33%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: FCX , SCCO

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