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ASX Market Open: Copper records take mining higher across the globe | Dec 4
The Market Onlineยท 2025-12-03 21:31
Market Overview - Australian shares are projected to gain approximately +0.3% in futures, driven by a surge in copper prices, which have reached a record high in London [1][3] - The Dow Jones index in the U.S. saw a significant increase of +0.9%, while London's stock market experienced a slight decline of -0.1% [2] Commodity Insights - Copper prices have surged to an all-time high following Glencore's decision to reduce near-term output targets, which is expected to tighten supply in the short term [3] - Other commodities are also performing well, with iron ore up +0.4% to $104.30 per tonne, Brent crude oil gaining +0.6% to $62.83 per barrel, and gold priced at $4,212 per ounce [6] Company News - BHP (ASX:BHP) and Rio Tinto (ASX:RIO) are highlighted as key stocks to watch due to their +1.5% gains in London, benefiting from the rise in copper prices [4] - Nuix Limited (ASX:NXL) has announced an agreement to acquire Linkurious, a Paris-based AI decision platform that specializes in graph data visualization [4] - Lefroy Exploration (ASX:LEX) has commenced mining activities at Lucky Strike, with the first ore haulage expected in January next year [4] - 6K Additive Inc., a U.S.-based metal powders producer, is set to join the Australian stock exchange under the ticker "6KA," with an initial share price of $1 [5]