Summary Box: Metals rise on better outlook

AP News
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Posted: Aug 12, 2011 5:09 PM
Summary Box: Metals rise on better outlook

METALS UP: Higher stock prices Friday also led to gains in industrial metals like platinum and copper. October platinum added $4.30 to end at $1,796.70. Copper for September delivery gained 0.35 cents at $4.012 per pound.

ENCOURAGING REPORT: The markets were cheered by news that consumer spending improved last month, with retail sales rising 0.5 percent. A strengthening stock market signals that future demand might not be as weak as some traders thought earlier this week.

CROPS RISE: Crop prices were up in the wake of a government report that predicts tight backup supplies of corn and other crops through next year.