Summary Box: Industrial metals rise

AP News
|
Posted: Oct 10, 2011 4:11 PM
Summary Box: Industrial metals rise

INDUSTRIALS RISE: Copper gained 2.9 percent to end at $3.368 a pound. Platinum jumped 2.1 percent to finish at $1,525.10 an ounce while palladium rose 4.9 percent to close at $614.30 an ounce.

BETTER OUTLOOK: The metals rose on optimism that Europe is making progress toward containing its debt crisis. A deal would ease worries that a freeze-up of Europe's financial system could trigger a global economic slowdown and decrease demand for basic materials.

OIL ALSO GAINS: Oil prices rose on expectations of higher demand. Benchmark oil gained $2.43 to end at $85.41 per barrel.