News Summary: Platinum Surges On So. Africa Strike

By The Associated Press

STRIKE: Prices for platinum and palladium surged Tuesday after Lonmin, one of the world's largest producers of platinum metals, said Tuesday that workers went on strike at one of its mines in South Africa.

SIGNS OF GROWTH: Silver and copper rose after some encouraging economic reports. Activity in the U.S. service sector expanded in February at the fastest pace in a year, thanks to higher sales and new orders.

OIL UP: Benchmark U.S. crude oil rose for the first time in four days. Oil prices are still down more than 6 percent in two weeks.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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