Reply #28: COMMODITIES-Copper, oil rise on Europe's debt steps, China PMI [View All]

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http://uk.reuters.com/article/2011/10/24/markets-commodities-idUKL3E7LO17R20111024

KUALA LUMPUR, Oct 24 (Reuters) - Commodities gained across the board on Monday after Europe made progress in its plan to contain the region's debt crisis and an index showed China's manufacturing sector expanded in October.

Spot gold rose for a second day after four straight days of declines last week. Brent crude LCOc1 climbed more than $1 to above $110.56 a barrel after tumbling almost 3 percent last week.

Investors await Europe's unveiling of a plan on Wednesday to stave off a Greek default, write down debt and recapitalise banks as leaders near agreement on how to leverage their rescue fund to try stop the crisis from spreading.

HSBC's flash purchasing managers' index showed China's manufacturing sector expanded in October, snapping three months of contraction and easing concern demand may slump in the main driver of commodities demand growth.