Copper prices rise

Reuters

London

Copper rose on Thursday as the dollar slipped, but fears for global growth sparked by worries about a potential financial crisis and uncertainty about demand in China curbed gains.

Benchmark copper on the London Metal Exchange ended up 0.1 percent to $4,447.5 a tonne in official rings. The metal used widely in the power and construction industries hit a two-week low of $4,430 on Wednesday.

The FTSEurofirst 300 share index plunged to its lowest level in 2-1/2 years, hit by a renewed slump in banks and miners.

Comments from the U.S. Federal Reserve's chairwoman, Janet Yellen, that tighter credit markets, volatile financial markets and uncertainty over Chinese economic growth have raised risks for the U.S. economy also undermined confidence.  "In the short term, the weaker dollar is helping copper," VTB Capital analyst Wiktor Bielski.