SHANGHAI, Aug 5 (Reuters) - Shanghai copper rose over 1 percent on Wednesday, tracking gains the previous session in London, where copper prices rose to a ten-month high as better-than-expected U.S. house sales figure boosted hopes of an economic recovery.
* Shanghai's benchmark third-month copper futuresrose 1.3 percent to 48,460 yuan a tonne by 0101 GMT, heading for its fifth straight day of gains after hitting a ten-month high of 49,000 yuan the previous day.
* The most-active Shanghai copper contract for November deliveryrose 1.4 percent to 48,440 yuan a tonne.
* Copper for three-month delivery on the London Metal Exchangegained $65 to $6,115 a tonne, after reaching a 10-month high of $6.144.50.
* Sales of U.S. homes rose at a stronger-than-expected pace in June, up for a fifth straight month, adding to evidence that the housing market was starting to recover from a three-year slump. [ID:nN0498623]
* Jinchuan Group Ltd, China's top nickel producer, raised its nickel prices by nearly 8 percent in the past two days to 141,000 yuan a tonne, as domestic supply tightened and nickel imports were curbed by rising prices.
* LME nickelrose to an 11-month high of $19,700 a tonne on Wednesday, rising for a fifth straight day.
* Copper stocks in warehouses registered with the LME rose 3,775 tonnes to 285,900 tonnes on Tuesday, the highest since mid-June, but way below the over 500,000 tonnes of stocks in February.
* The financial sector led U.S. stocks higher on Tuesday, as economic data indicated a sustained if slow economic recovery, taking the Dow and the S&P 500 to nine-month highs. [.N]
* The dollar was steady near 2009 lows against the euro and sterling on Wednesday. [USD/]
* The following data is expected on Wednesday:
- Euro zone July composite PMI (0758 GMT)
- Euro zone June retail sales (0900 GMT)
- U.S. ADP employment report for July (1215 GMT)
- U.S. factory orders for June (1400 GMT)
- U.S. ISM non-manufacturing for July (1400 GMT)
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PRICES Base metals prices at 0101 GMT Metal Last Change Pct chg Day ago pct MA 30 RSI LME copper $6,115.00 $65.00 +1.07% +1.92% $5,264 83.3 LME alum $2,005.00 $15.00 +0.75% +1.78% $1,709 87.1 LME zinc $1,885.00 $32.00 +1.73% +2.17% $1,623 79.3 ShFE copper 48,460 640 +1.34% +2.06% 42,080 81.4 ShFE alum 15,200 165 +1.10% +1.64% 13,899 73.5 ShFE zinc 15,320 200 +1.32% +2.03% 13,707 78.7 Currencies Euro/dlr $1.441 $0.001 +0.06% -0.04% Dlr/yuan 6.830 0.000 +0.00% -0.01% (Reporting by Rujun Shen and Edmund Klamann; Editing by Michael Urquhart)
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