AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)

Shanghai copper futures fell 1.2 percent in early trade on Friday, tracking weaker London prices after sentiment worsened along with a slide in US stocks. Nickel, which had dived almost 6 percent on Thursday after the London Metal Exchange changed lending rules to free up more metal, rebounded almost 1 percent.
The most-active August copper contract on the Shanghai Futures Exchange had fallen 780 yuan to 64,720 yuan ($8,516) a tonne.
Copper for delivery in three months on the London Metal Exchange fell $75, or 1.01 percent, to $7,360 a tonne.
"The atmosphere is very weak after the US stock market fall," said a Tokyo trader. "Customers are waiting for copper to slide even lower before picking up material."
Asian stocks slid on Friday, tracking a tumble by US stocks as Treasury yields surged above 5 percent, reinforcing fears that global inflation would force borrowing costs to rise.
Higher yields make bonds more attractive as an asset class and may prompt some investors to switch from stocks.
Tokyo's Nikkei average had sunk 1.61 percent, while in South Korea the benchmark KOSPI slipped 1.3 percent.
Nickel bucked the falling trend, adding $400, or 0.93 percent, to $43,300, after on Thursday's dip on the new rules, with investors picking up the metal at the lower prices amid what is still a fundamentally tight market. The LME late on Wednesday amended its lending rules, lowering the limit at which holders of dominant long positions are required to lend to the market, late on Wednesday.
Analysts and traders said the rule change was intended to combat parties working together to build dominant positions.
Nickel stocks in LME-registered warehouses have risen by around 8 percent in June to 8,604 tonnes but remain down from some 36,000 at the beginning of 2006. On the supply side, Chilean copper miner Codelco on Thursday pledged to take steps to improve pay and conditions for subcontracted workers, but a worker' representative dismissed the promise as "absolutely unsatisfactory."
Some workers are threatening to strike in a bid to secure better pay and conditions, possibly hindering mine production.

Copyright Reuters, 2007

Comments

Comments are closed.