Copper climbs off 2-1/2 month low

Reuters

Melbourne

London copper lifted away from 2-1/2 month lows on Tuesday, led by firm oil prices and brighter company earnings, while investors looked for further Chinese measures to cement a recovery after tepid economic growth in April.

A rebound in technology giant Apple Corp and oil price gains boosted Wall Street, helping to sooth sentiment that had been damaged after Chinese data for April fuelled doubts about the economy´s health.

China will push forward supply-side reform and increase the number of middle-income earners, state television quoted President Xi Jinping as saying on Monday.

"Evidence suggests that while the economy slowed in April, China´s government will continue to stabilise growth by boosting investment demand in infrastructure and real estate in Q2," Standard Chartered said in a note. "Both infrastructure and property investment continue to grow strongly, with no indication of a loss of momentum in these two key channels of metals demand.