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News Summary: Copper falls on ECB growth outlook

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The Associated Press | December 6, 2012 04:57 PM EST | AP


COPPER DROPS: The price of copper fell the most in more than a month after the ECB said that the economies of 17 countries that use the euro will contract next year. It previously forecast a modest expansion. Copper prices, which typically track the outlook for global growth, had risen in recent weeks on the prospect of faster growth in China.

STRONG DOLLAR: A stronger dollar also weighed on the price of copper, analysts said.

ENERGY SLUMPS: Oil and other energy contracts also slid following the ECB's weaker forecast for the European economy.