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EU Carbon Advances for First Year in Three as Economy Recovers

| Sourced From Bloomberg |

European Union carbon permits snapped two consecutive years of decline amid signs the regions economy is recovering from recession.

Allowances for December 2011 delivery in the worlds biggest cap-and-trade program gained 8.3 percent this year after falling 23 percent last year and 29 percent in 2008. They traded at 14.24 euros a metric ton today on Londons ICE Futures Europe exchange.

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