William O'Neill News
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Zinc fell in London, leading declines by industrial metals, as an unexpected gain in German unemployment stoked concern the euro-area debt crisis is weighing on regional economies.
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Lead rose for a second day in London and zinc gained for a third session after manufacturing expanded at a faster pace in China, the world’s biggest consumer of industrial metals.
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A divergence in gold options is signaling the metal’s rally may pause as Europe’s sovereign-debt concerns ease, said William O’Neill, a partner at Logic Advisors.
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A jump in orders to draw copper supplies from inventories may signal prices of the metal are set to rebound as construction demand climbs.
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Deal lawyers are having a busy week, especially at Skadden, Arps, Slate, Meagher & Flom LLP. The firm is involved in six acquisitions that were announced yesterday, ranging in value from $850 million to $1.7 billion.
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Copper rose for the first time in three sessions on speculation that China will take more steps to spur its economy, bolstering the outlook for metals demand.
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Copper futures posted the biggest gain in almost six weeks as imports climbed to a record in China, the world’s biggest user of industrial metals.
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Gold futures jumped to the highest in almost 11 months as the European Central Bank said it is ready to start buying government bonds, boosting demand for the metal as a store of value. Silver, platinum and palladium also gained.
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Gold futures rose to a five-week high on speculation that central banks in the U.S. and Europe will add to stimulus programs in an effort to spur faltering economies.
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Copper may rise on speculation that supply of the metal will remain constrained, a survey showed.
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