MF Global Daily Report: Base Metals (Aug. 12, 2011)

Aug. 12 (MF Global) -- It was another wild day in the markets yesterday, with the US stock market giving back all of Tuesday's 430-point gain and then some. However, this time around, the equity rout did not result in a corresponding decline in base metals, as most held up well (with the exception of copper, which sank to an eight-month low). Energy prices were also very strong, rising more than $3.5/brl. Both complexes were helped by the weaker dollar and the relentless run-up in gold, which soared to $1800 yesterday.