SYDNEY, Aug 1 (Reuters) - London copper eased on Friday after a rout on Wall Street over Argentinian default soured risk appetite and ahead of a deluge of economic indicators out later in the session, including an assessment of activity in China's vast manufacturing sector. FUNDAMENTALS * Three-month copper on the London Metal Exchange
CMCU3 edged down by 0.3 percent to $7,096.50 a tonne by 0040 GMT, reversing losses from the previous session. Copper gained for a third month in a row in July, with a 1.4 percent advance. * The most-traded October copper contract on the Shanghai Futures ExchangeSCFcv1 slipped by 0.2 percent in overnight trade to 50,360 yuan ($8,200) a tonne. * LME zincCMZN3 which was the top performer in July, climbing 6.5 percent, eased by 0.6 percent to $2346.25 a tonne. * Argentina's bond and stock markets and peso currency dropped on Thursday after Latin America's No. 3 economy defaulted for the second time in 12 years after the failure of last-ditch talks with holdout creditors.ID:nL6N0Q64AV * China will work harder on reforming its economy in the northeastern region, where growth has lagged, Premier Li Keqiang said on Thursday as he promised to enforce targeted policy loosening in the area.ID:nL4N0Q666Y * A number of small developers - the kind that by sheer weight of numbers dominate China's vast property sector - are set to report big drops in earnings or even losses as the industry grapples with tight credit, sluggish sales and excess supply.Id:nL4N0Q64PZ * For the top stories in metals and other news, clickTOP/MTL orMET/L MARKETS NEWS * Asian shares stumbled on Friday after a month-end swoon on Wall Street, though some were hoping China would offer better news on manufacturing and help steady investor sentiment.MKTS/GLOB DATA AHEAD (GMT) 0100 China Official manufacturing PMI July 0145 China HSBC manufacturing PMI final July 0750 France Markit manufacturing PMI July 0755 Germany Markit/BME manufacturing PMI July 0800 Euro zone Markit manufacturing PMI July 1230 U.S. Non-farm payrolls July 1230 U.S. Unemployment rate July 1400 U.S. ISM manufacturing PMI July 1400 U.S. Construction spending June PRICES Three month LME copperCMCU3 Most active ShFE copperSCFcv1 Three month LME aluminiumCMAL3 Most active ShFE aluminiumSAFcv1 Three month LME zincCMZN3 Most active ShFE zincSZNcv1 Three month LME leadCMPB3 Most active ShFE leadSPBcv1 Three month LME nickelCMNI3 Three month LME tinCMSN3 ($1 = 6.1737 Chinese Yuan) (Reporting by Melanie Burton; Editing by Michael Perry) ((melanie.burton@thomsonreuters.com)(+612 9373 1803)(Reuters Messaging: melanie.burton.thomsonreuters.com@reuters.net))(( For related news and prices, click on the codes in brackets: LME price overviewRING= COMEX copper futures0#HG: Base metals newsMET All metals newsMTL All commodities newsC Metals diaryMTL/DIARY Foreign exchange ratesFX=S SPEED GUIDESCOMMODS LME/INDEX ))Keywords: MARKETS METALS/
METALS-Copper edges down ahead of China factory gauge
SYDNEY, Aug 1 (Reuters) - London copper eased on Friday after a rout on Wall Street over Argentinian default soured risk appetite and ahead of a deluge of economic indicators out later in the session, including an assessment of activity in China&aposs vast manufacturing sector. FUNDAMENTALS * Three-month copper on the London Metal Exchange CMCU3 edged down by 0.3 percent
August 1, 2014
