Materials Up as Copper's Bull Run Continues -- Materials Roundup

FeaturesDow Jones Newswires

Shares of mining companies and other commodities producers rose as the dollar weakened and copper continued its historic bull run.

Copper futures rose for the 16th session in a row Thursday, the longest streak on record. Front-month copper for January delivery added 0.7% to $3.2860 a pound on the New York Mercantile Exchange, for the highest close since February 2014.

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The dollar fell to a three-month low, reflecting increased expectations for a rate increase from the European Central Bank. Much of the dollar's appreciation in recent years has stemmed from a sense that the Federal Reserve was moving more aggressively than central banks overseeing other major currencies. The Fed's gradual pace and a change of tone from other central bankers, however, has reduced the likely "interest-rate differential" that is a key input for relative currency values. A weaker dollar tends to lead to higher global prices for metals priced in the greenback as constant prices overseas would mean higher dollar-denominated prices.

-Rob Curran,

(END) Dow Jones Newswires

December 28, 2017 17:26 ET (22:26 GMT)