Shanghai copper raises FTSE again

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The FTSE 100 index has risen 0.2% to 5704.4 this morning, led by BHP Billiton and Rio Tinto after copper futures rose to a record close in Shanghai.

BHP Billiton has risen 1.4% to 967p and Rio Tinto has gained 1.1% to £26.80 after copper closed at a record 42,900 yuan ($5,317) a metric ton on concern supply cannot keep pace with demand. BAE Systems has also gained 1.7% to 400p after UBS AG raised its share-price estimate for the weapons maker. In Japan, the Nikkei 225 Stock Average swung between gains and losses before closing little changed. It added 2.84 points to 16,428.21 but earlier fell as much 0.6%. Toshiba rose 19 yen, or 2.6%, to 758 while Elpida Memory, a memory chipmaker, surged 500 yen, or 14%, to 4,100, the second-big...

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