03.12.2012 - Resurgent China boosts oil and metals
Oil and base metals markets closed higher after data showing China’s manufacturing industry expanded for the second consecutive month in November. The China Federation of Logistics and Purchasing’s official Purchasing Manager’s Index hit a seven-month high of 50.6 points in November, up from 50.2 in October. Crude oil jumped to $US88.91 a barrel, the highest since October 19, as resurgent economic activity in China and the United States fuels investor optimism despite uncertainty regarding the fiscal cliff. Base metals including copper for three-month delivery gained on the London Metals Exchange, closing up 1.21 per cent at $US7995 a tonne...............................................Full Article: Source
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