MTECHTIPS

MTECHTIPS:-Copper rallies 2% on Spanish bailout, China trade data
Copper futures rallied more than 2% during European morning trade on Monday, as market sentiment improved after the European Union agreed to lend Spain as much as EUR100 billion to bailout its banks over the weekend.Appetite for riskier assets found further support after data over the weekend showed China's exports jumped in May from a year earlier, while imports also rose more-than-expected.On the Comex division of the New York Mercantile Exchange, copper futures for July delivery traded at USD3.354 a pound during European morning trade, rallying 2.1%. It earlier rose by as much as 3.5% to trade at a session high of USD3.400 a pound. Appetite for riskier assets improved after euro zone finance ministers agreed on Saturday to lend Spain up to EUR100 billion to shore up its struggling banks, relieving markets that had feared a fiscal collapse in the country.Finance ministers from the euro zone welcomed the move, saying the sum "must cover estimated capital requirements with an additional safety margin."