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Copper Up, Bank of China Rises On Sub-Prime Reassurance
000878.SZ, 3988.HK, 601988.SH, BOC, Bank of China Limited, Xiao Gang, Yunnan Copper
Posted by: Li Jun on Feb 19, 2008 | 17:02
Editorial Summary
Shares of Yunnan Copper (000878.SZ) rose 8.49 percent to close at RMB49.83 in Shanghai on Tuesday, after copper futures rose three percent on Tuesday on the London Metal Exchange (LME) to US$7.97 per ton, following a 4.3 percent decline in copper inventories on Tuesday.
Shares of Bank of China Limited (BOC) (601988.SH; 3988.HK) rose 2.84 percent to close at RMB5.79 on Tuesday after its chairman Xiao Gang said the company will report "marked" profit growth in 2007, reports Xinhuanet.com. Xiao said the bank has sold all of its sub-prime collateralized debt obligations (CDOs) and has set aside enough funds to cover losses from its sub-prime investments, said the report quoting Xiao.
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