y Will Hadfield - May 3, 2013 6:30 AM ET
Copper led metals higher before a U.S. report that may show employment climbed in the world’s largest economy, while the yield on Spain’s 10-year bonds fell below 4 percent for the first time since 2010. European stocks and U.S. index futures were little changed.
Copper jumped 3.7 percent and zinc rose 2.5 percent at 11:29 a.m. in London. The Spanish 10-year yield dropped seven basis points to 3.97 percent, and Italy’s two-year note yield dropped below 1 percent for the first time on record. The yield on Turkey’s benchmark two-year securities also dropped below 5 percent for the first time. The euro strengthened against the dollar and the yen. The Stoxx Europe 600 Index rose 0.1 percent, while Standard & Poor’s 500 Index futures lost 0.1 percent.
Copper has lost 16 percent since this year’s peak on Feb. 4 on concern economic growth may falter in China, the largest user. Photographer: Ty Wright/Bloomberg
May 3 (Bloomberg) -- Khiem Do, Hong Kong-based head of Asian multi-asset strategy at Baring Asset Management Ltd., talks about the outlook for global stocks and his investment strategy. He speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)
May 2 (Bloomberg) -- Nader Naeimi, Sydney-based head of dynamic asset allocation at AMP Capital Investors Ltd., talks about global financial markets and his investment strategy. He also discusses Federal Reserve monetary policy with John Dawson on Bloomberg Television's "On the Move." (Source: Bloomberg)
May 1 (Bloomberg) -- Adrian van Tiggelen, chief equity strategist at ING Investment Management, discusses stocks strategy. He talks from The Hague, Netherlands, with Francine Lacqua on Bloomberg Television's "On the Move." (Source: Bloomberg)
A Labor Department report today will show that hiring rebounded in the U.S. in April, while the unemployment rate remained at 7.6 percent, according to a Bloomberg survey of economists. A separate release may show that activity in America’s service industries expanded at the slowest pace since July. European Central Bank Governing Council member Ewald Nowotny said policy makers have no plans to cut the deposit rate for the 17 nations using the euro, following yesterday’s decision to lower the benchmark lending rate.
“For the time being, good economic news is being interpreted as good news for the metals markets,” said Eugen Weinberg, head of commodities research at Commerzbank AG in Frankfurt. “Better employment numbers today are likely to support this market even further as there are signs of some genuine demand or genuine supply sca