Materials Up as Copper Hits Two-Month High -- Materials Roundup

Features Dow Jones Newswires

Shares of mining companies and other commodities producers rose as traders bet the passage of a tax overhaul bill through the U.S. Congress would lead to more rapid economic growth and higher demand for raw materials.

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Copper futures, sometimes known as "Dr. Copper" because they diagnose changes in the growth outlook, rose 1.4% at $3.1960 a pound in U.S. trading, for the highest close since late October.

Still, analysts at brokerage Morgan Stanley said the tax bill won't be a "panacea for the economic cycle," noting the impact on growth rates is likely modest and short-lived.

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

December 20, 2017 16:38 ET (21:38 GMT)