BLOOMBERG.COM
Commodities are nearing bull-market territory after rebounding from the lowest level in at least 25 years as oil prices rallied, complementing advances in recent weeks in soybeans and zinc. The Bloomberg Commodity Index, which tracks returns from 22 raw materials, climbed 0.6 percent to 87.24 by 3:32 p.m. in Singapore on Friday. The gauge bottomed at a closing low of 72.88 in January, and a finish above 87.45 would mark a 20 percent advance, meeting the common definition of a bull market. The measure is still about 50 percent below the high reached in 2011.
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Commodities are nearing bull-market territory after rebounding from the lowest level in at least 25 years as oil prices rallied, complementing advances in recent weeks in soybeans and zinc. The Bloomberg Commodity Index, which tracks returns from 22 raw materials, climbed 0.6 percent to 87.24 by 3:32 p.m. in Singapore on Friday. The gauge bottomed at a closing low of 72.88 in January, and a finish above 87.45 would mark a 20 percent advance, meeting the common definition of a bull market. The measure is still about 50 percent below the high reached in 2011.
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