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Keywords: *TOP NEWS* Latin America
(Adds Chavez 'stone throwing' comment, paragraph 6)
BRASILIA, May 14 (Reuters) - German Chancellor Angela Merkel played down a dispute with Venezuelan President Hugo Chavez on Wednesday, saying she could handle him on her own and would greet him at a summit in Lima this week.
Tensions between the two countries have risen since the leftist Chavez called Merkel a political descendant of Adolf Hitler for implying he had harmed relations between Europe and Latin America.
Merkel, who will attend a summit of European and Latin American leaders this week in Lima, said she would be friendly toward to all participants, who are expected to include Chavez.
"I will certainly greet everybody courteously," Merkel said during a news conference with Brazilian President Luiz Inacio Lula da Silva.
"President Lula can relax; I can look after myself," Merkel said when asked whether Lula could help smooth over the dispute.
Chavez was less conciliatory on Wednesday, saying Merkel came to Latin America "throwing stones."
The Venezuelan Foreign Ministry on Tuesday accused Germany of meddling and said Venezuela was not a disturbing factor in Latin America, Europe or the world.
"If I know Chavez and Merkel well, they will sit down, have a cup of coffee and peace will reign between Caracas and Bonn," Lula said, mistakenly referring to Germany's previous capital.
Chavez, a critic of capitalism and globalization, has insulted leaders from several countries, including Colombia, Mexico and frequently the United States.
Lula, who shares some of Chavez's ideals of regional integration to counter-balance U.S. and European interests, is usually less vocal in his criticism.
Merkel is on a two-day visit to Brazil before she attends the summit in Lima.
(Reporting by Raymond Colitt; Editing by Eric Walsh) ((ray.colitt@thomsonreuters.com; +5561 3426-7021)) Keywords: GERMANY CHAVEZ/BRAZIL
LIMA, May 14 (Reuters) - The World Bank is forecasting slower economic growth for Latin America in 2008 due to higher food and fuel costs, but stressed the region is ready to weather a global slowdown, a senior official said on Wednesday.
Pamela Cox, the bank's vice president for Latin America, said growth for the region this year should be "more or less" 4.5 percent. Her last estimate of 4.8 percent was given to Reuters in April and was lower than a previous forecast of 5.1 percent.
"Compared to previous crises, Latin America is much stronger than it used to be because countries are growing, they've been following sensible macro policies, they have reserves and they've addressed financial sector regulation," Cox told reporters on the eve of a summit of leaders from some 60 European and Latin American countries.
She said the economic slowdown in the United States threatens to hit Mexico and Central America hardest because of their integration with the U.S. market.
The World Bank plans to lend some $5.8 billion to Latin America this year, up from $4.8 billion in 2007, with most of the increase going to development projects in Brazil. (Reporting by Jean Luis Arce; Writing by Dana Ford; editing by Gary Crosse) ((dana.ford@thomsonreuters.com; +511-221-2130; Lima newsroom)) Keywords: EU LATINAMERICA/WORLDBANK
NEW YORK, May 14 (Reuters) - U.S. copper futures settled at their lowest levels since late March on Wednesday as a steadier tone in the dollar and weaker demand signals from China, the world's leading metals consumer, held a two-week downtrend in place, traders and analysts said.
NOTE: For detailed report, click on [MET/L].
* Copper for July delivery <HGN8> ended down 5.05 cents at $3.6810 a lb on the COMEX metals division of the New York Mercantile Exchange, its lowest level on a closing basis since March 25. Range from $3.6525 to $3.7435.
* By 1 p.m. EDT (1700 GMT), COMEX copper volumes estimated at 12,898 lots. Final volumes on Tuesday hit 13,318 lots.
* Open interest in the market fell by 574 lots to 97,799 contracts open as of May 13.
* Copper market pressured by profit-taking correction from recent record high at $4.2605, set on May 5 - Pioneer Futures trading analyst Scott Meyers.
* Market trading up against key support at $3.67-$3.68. Resistance seen at $3.75 to $3.80 - trader.
* Copper market loses some support from Monday's earthquake in Sichuan province, a region of China not associated with copper mining and smelting activity. [ID:nSP248483]
* China earthquake having an adverse impact on copper market's near-term outlook as resources directed to rescue effort. Longer term, may be a supportive factor - Archer Financial Services futures analyst Steve Platt.
* Chinese output of refined copper rose 22.7 percent in April to 329,400 tonnes - Chinese Bureau of Statistics. [ID:nBJE000055]
* Increased production levels in China no surprise. Reflect the turnaround of feed coming from the higher levels of imported scrap and concentrate over the past three months - RBC Capital Markets.
* A weaker trend in world currencies against the U.S. dollar provided additional softness in the copper market.
* Dollar firmed after benign U.S. consumer inflation in April supported views that the Federal Reserve's interest-rate-cutting campaign was almost over.
* U.S. consumer prices rose by 0.2 percent in April, less than the 0.3 percent gain Wall Street analysts polled by Reuters were expecting, and after a 0.3 percent advance in March. Core prices, which exclude volatile food and energy, were up just 0.1 percent, half the increase analysts had forecast. [ID:nL143685]
* Potential supply disruptions in Peru and Chile continued to offer underlying support.
* Peruvian labor leaders suspended a nationwide mining strike for 15 days on Friday days before a summit of European and Latin American leaders in the Andean country. [ID:nN09477268]
* Meanwhile, subcontract workers at Chile's Codelco said the company must officially recognize their demands at the negotiating table if it is to avoid further protests. [ID:nN13405549]
* Chilean President Michelle Bachelet has given her word that Codelco, the state copper miner, will adhere to accords that ended a three-week strike that shut three of the company's five divisions for parts of last month. [ID:nN14503601]
* London Metal Exchange copper warehouse stocks fell by 350 tonnes Wednesday at 121,425 tonnes. COMEX warehouse copper stocks were flat at 10,827 short tons on Tuesday.
* LME copper for delivery in three months <MCU3> settled at $8,120 a tonne, down $120 from Tuesday's close.
(Reporting by Chris Kelly; Editing by Christian Wiessner) ((chris.kelly@reuters.com ; +1 646 223 6042; Reuters Messaging: chris.kelly.reuters.com@reuters.net ))
For the latest news and prices, click on the codes in brackets:
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Spot gold/silver <XAU=><XAG=>
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N.Y. metals hourly volumes <IZQI>
Vols/open interest <MTXM>
RELATED NEWS AND OTHER TOPICS Precious metals news [GOL] All metals news [MTL] All commodities news [C] Metals diary [MTL/DIARY] Ldn Bullion Mkt Assoc <LBMA01> Foreign exchange rates <FX=S> Keywords: MARKETS COPPER/COMEX
BRASILIA, May 14 (Reuters) - German Chancellor Angela Merkel played down a dispute with Venezuelan President Hugo Chavez on Wednesday, saying she could handle him on her own and would greet him at a summit in Lima this week.
Tensions between the two countries have risen since the leftist Chavez called Merkel a political descendant of Adolf Hitler for urging Latin American leaders to distance themselves from him.
Merkel, who will attend a summit of European and Latin American leaders this week in Lima, said she would be friendly toward to all participants, who are expected to include Chavez.
"I will certainly greet everybody courteously," Merkel said during a news conference with Brazilian President Luiz Inacio Lula da Silva. "President Lula can relax; I can look after myself," Merkel said when asked whether Lula could help smooth over the dispute.
The Venezuelan Foreign Ministry on Tuesday accused Germany of meddling and said Venezuela was not a disturbing factor in Latin America, Europe or the world.
"If I know Chavez and Merkel well, they will sit down, have a cup of coffee and peace will reign between Caracas and Bonn," Lula said, mistakenly referring to Germany's previous capital.
Chavez, a critic of capitalism and globalization, has insulted leaders from several countries, including Colombia, Mexico and frequently the United States.
Lula, who shares some of Chavez's ideals of regional integration to counter-balance U.S. and European interests, is usually less vocal in his criticism.
Merkel is on a two-day visit to Brazil before she attends the summit in Lima.
(Reporting by Raymond Colitt; Editing by Eric Walsh) ((ray.colitt@thomsonreuters.com; +5561 3426-7021)) Keywords: GERMANY CHAVEZ/BRAZIL
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