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TDUX
May 12 - 02:55 AM

Copper - Indian Metal Stocks Gain On Copper Rally, Peru Supply Worries

By Kashish Tandon  —  May 12 - 01:44 AM

• Indian metal stocks climb 1%

• Top sectoral gainer on benchmark Nifty 50 , which is down 1%

• Gains mirror those in Shanghai copper, which logged its biggest daily gain in months as supply concerns and expectations of higher demand from China

• Peru's move to let Petroperu secure $2 billion in state-backed loans to sustain operations has raised trader concerns that energy shortages could disrupt copper supply

• Hindustan Zinc leads gains on sub-index with 3.5% climb, followed by Vedanta's 3.1% rise

• Hindustan Copper gains 2%

• YTD, sub-index climbs 16.8% vs Nifty's 9.7% drop


(Reporting by Kashish Tandon in Bengaluru)

Source:
London Stock Exchange Group | Thomson Reuters
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