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Reuters reported that London copper surged over 1% to its highest since May 30th 2012 after pro bailout parties in Greece won a slim parliamentary majority on Sunday, easing fears that Greece may exit the euro zone.

Three month copper on the London Metal Exchange rose 1.4% to a session high of USD 7,615 per tonne.

The New Democracy and PASOK parties, which support a bailout that could save the country from bankruptcy, could form a slim parliamentary majority after elections on Sunday.

The euro and risk currencies also jumped in response on Monday and Asian share markets opened higher.