METALS-London copper gains after Fed stimulus assurance
(Recasts, updates London prices, adds Shanghai) SINGAPORE, July 19 (Reuters) - London copper rose on Friday and is on track to end the week firmer after Federal Reserve Chairman Ben Bernanke reassured markets about the timing of any pullback in the Fed's stimulus program.
* Three-month copper on the London Metal Exchange climbed 0.8 percent to $6,960 a tonne by 0107 GMT. It is up slightly for the week and could stretch its winning streak to a third week.
* The most-traded November copper contract on the Shanghai Futures Exchange rose 1.2 percent to 50,110 yuan ($8,200) a tonne.
* Federal Reserve Chairman Ben Bernanke delivered written remarks to the U.S. Senate Banking Committee on Thursday that were virtually identical to unthreatening remarks he gave the day before. He stressed that the timeline for winding down the Fed's stimulus program was not set in stone.
* New claims for U.S. jobless benefits fell last week and factory activity picked up in the Mid-Atlantic region in early July, signs of a stronger economy that could help push the Federal Reserve to ease its monetary stimulus.
* Moody's Investors Service on Thursday raised the U.S. sovereign outlook to stable from negative and affirmed the country's triple-A rating, citing steady growth despite reduced government spending.
* Engineering group Atlas Copco announced more job losses on Thursday as spending cuts across the mining industry hit demand for its trademark drill rigs and loaders and raised worries the sector's downturn may have further to run.
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* Stock markets worldwide extended their rally on Thursday, with major U.S. indexes hitting all-time highs following the Federal Reserve's reassurance on its stimulus program.
* The U.S. dollar was again probing major resistance against the yen on Friday, encouraged by solid economic data, higher Treasury yields and an unthreatening conclusion to Bernanke's testimony.
0600 Germany Producer prices 0800 Italy Industrial orders
G20 Finance ministers and central bank chiefs' meeting (to July 20)
Base metals prices at 0107 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 6960.00 55.00 +0.80 -12.24 SHFE CU FUT NOV3 50110 570 +1.15 -13.50 HG COPPER SEP3 3.16 0.03 +0.80 -13.58 LME Alum 1810.50 5.50 +0.30 -12.66 SHFE AL FUT OCT3 14335 25 +0.17 -8.52 LME Zinc 1864.00 7.50 +0.40 -10.38 SHFE ZN FUT OCT3 14565 30 +0.21 -9.28 LME Nickel 14068.00 68.00 +0.49 -17.54 LME Lead 2048.00 11.50 +0.56 -12.10 SHFE PB FUT 0.00 -13845.00 -100.00 -100.00 LME Tin 19589.00 44.00 +0.23 -16.29 LME/Shanghai arb^ -264
Shanghai and COMEX contracts show most active months ($1 = 6.1413 Chinese yuan)
(Reporting by Melanie Burton; Additional reporting by Manolo Serapio Jr.; Editing by Paul Tait and Richard Pullin)