Freeport-McMoran Copper & Gold Inc is trading 4.3% up at $71.36 today, driven by a broad market risk-on sentiment following a US-Iran peace deal and rising copper prices. - The company also benefits from a recently signed Memorandum of Understanding with the Indonesian government regarding a potential life-of-resource extension for its Grasberg mine. - Optimism for copper is further supported by declining inventories in China and planned significant investments in technology infrastructure by China. - Global equity markets are rallying sharply as easing geopolitical tensions reduce inflation fears and improve rate expectations.