Copper higher in New York, London
by Elaine Frei
Base metals prices were mostly higher on Friday.
Copper added 5 cents to $3.40 per pound in New York after new data showed that wages, consumer spending, and factor orders were all up in the United States in July, while three-month copper on the London Metal Exchange was 0.8 percent higher to $7,460 per tonne.
These gains, along with a promise by Federal Reserve chairman Ben Bernanke to do what is necessary to limit damage to the economy from the housing slump and subprime crisis, inspired investor confidence.
Copper has added 1.4 percent this week but has dropped 6.9 percent in the past month in New York.
In other base metals, tin added 0.6 percent in London, but aluminium fell 0.1 percent to $2,530 per tonne.
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