Daily Metals Insight 5-Jun-2009

Research report by 'Ventura Securities Ltd'
     
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Asian stocks gained, with the MSCI Asia Pacific Index set for its third weekly advance, after Rio Tinto Group scrapped an investment by China in favor of a $15.2 billion share sale as commodity prices rebound.

Manufacturing in China, the world’s largest copper user, expanded for a third month in May. A surge in lending and investment and rising retail sales have spurred confidence that Premier Wen Jiabao’s 4 trillion yuan ($585 billion) stimulus package is reviving growth in the world’s third biggest economy.

European Central Bank President Jean- Claude Trichet indicated the ECB has no immediate plans to increase its asset-purchase plan or cut interest rates further as the economy shows signs of recovery.
   
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