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Commodity News Details
Copper jumps 2% as bounce from seven week low extends
07-Nov-2024 18:00

Copper futures bounced today after a pounding in last session that took the metal to lowest in seven weeks. The counter tumbled 5% on worries that demand from renewables could be hurt after Donald Trump won the US Presidential Election. The metal saw a good rebound today amid firm equities and currently quotes at $4.33 per pound, up 2% on the day. MCX Copper is also up 1.61% at Rs 839.65 per kg.

China's Shanghai Composite index soared 2.57% as official data showed China's exports expanded the most in more than two years in October. Hong Kong’s Hang Seng index jumped 2%. Japanese Nikkei index eased 0.25% after recording sharp gains in last session. European markets rose today with German DAX index adding 1.15% while French CAC gained half a percent on the day. Dow rallied following Donald Trump’s victory in US Presidential Elections. The US stocks soared yesterday, adding to recent run of gains and recording fresh highs.

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