MF Global Daily Report: Base Metals (Sept. 28, 2011)

Sept. 28 (MF Global) -- This market comment was written at 8:20 a.m. on September 27th, US east coast time...

Most markets staged impressive recoveries on Monday, as investors sensed that something would be coming out of Europe soon with respect to the ongoing debt crisis. On the energy side, both crude contracts erased about $3 a barrel in losses to close slightly higher on the day. The US stock market also rallied, with the Dow tacking on 272 points, as did the Euro, which recovered from an eight-month low against the dollar. Base metals all put in fresh 2011 lows early in the Monday session, but then staged very modest recoveries to close mixed.