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Commodity News Details
Copper sees choppy moves after China stimulus
11-Nov-2024 17:47
COMEX Copper futures saw choppy moves though firm equities capped losses. The metal currently trades at $4.28 per pound, down 0.44% on the day as market continued to assess China's $839 billion stimulus package. The package, which was approved Friday, was designed to alleviate local government debt but did not prop copper up, pulling the metal down nearly 3% in the session. However, overall outlook is steady for the commodity today. In Asia, China's Shanghai Composite index added 0.51%. Hong Kong's Hang Seng index fell 1.50%. Japanese Nikkei index ended marginally higher. European markets saw good gains with German DAX index adding 1.26% while French CAC index soared 1.20%. UK stocks are also witnessing steady upmove. The US stock indices gained further upside following supportive consumer sentiment data.

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