METALS-London copper eyes biggest weekly gain in six on growth hopes

SYDNEY, Feb 7 (Reuters) - London copper was set to post its largest weekly rise this year on Friday after encouraging signs in the U.S. labour market boosted optimism about global growth, while Shanghai copper rose as China returned from a week-long break.


* Three-month copper on the London Metal Exchange edged up by 0.1 percent to $7,140 a tonne by 0113 GMT from the previous session when it hit a ten-day peak at $7,210 a tonne.

* Copper prices were on track for a small 1 percent gain this week, paring the year's losses to around 3 percent.

* The most-traded April copper contract on the Shanghai Futures Exchange climbed 0.4 percent to 51,060 yuan ($8,400) a tonne.

* The number of Americans filing new claims for unemployment benefits fell more than expected last week, in a boost to the labour market outlook and the broader economy.

* January was a tough end to the most competitive holiday season for U.S. retailers since the 2007-2009 recession.

* At a time when major miners have turned gun-shy on acquisitions after a rash of value-busting deals, two big players made it clear last week that they are still keen to partner with junior firms on high-quality, early-stage projects.

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* Asian shares regained a measure of stability on Friday, stepping further away from five-month lows after a strong night on Wall Street and hopeful signs an upcoming crucial U.S. jobs report will put to bed some of the global growth concerns.


0145 China HSBC Services PMI

0700 Germany Trade data

0745 France Trade data

1100 Germany Industrial output

1330 U.S. Nonfarm payrolls

1330 U.S. Unemployment rate


Three month LME copper

Most active ShFE copper

Three month LME aluminium

Most active ShFE aluminium

Three month LME zinc

Most active ShFE zinc

Three month LME lead

Most active ShFE lead

Three month LME nickel

Three month LME tin

($1 = 6.0600 Chinese yuan)

(Reporting by Melanie Burton; Editing by Richard Pullin)