SYDNEY, May 5 (Reuters) - London copper edged higher on Friday after a second session of losses, but remained vulnerable to further sell downs amid concerns about rising inventories and weakening consumption.
* COPPER: Three-month copper on the London Metal Exchange gained 0.3 percent to $5,560.5 a tonne by 0155 GMT, modestly reversing losses from the previous session that swept copper to a five-month low
* SHANGHAI: The most-traded copper contract on the Shanghai Futures Exchange slipped 0.7 percent to 45,220 yuan ($6,557.42) a tonne.
* LME STOCKS: Inventories in London Metal Exchange (LME) warehouses rose nearly 33,000 tonnes on Wednesday, exchange data showed, bringing this week's increase to 64,000 tonnes, or 25 percent.
* NEGATIVE DATA: The impact of swelling stockpiles of the metal was compounded by data this week showing U.S. factory activity slowed in April while growth in China's manufacturing sector slowed more than expected.
* PHILIPPINES: The Philippine government will move forward with a second review of the country's mines despite the removal of Regina Lopez as environment minister, a finance official said on Thursday.
* FREEPORT TALKS: Indonesian authorities on Thursday kicked off negotiations with Freeport McMoran Inc. over a contract dispute that has prompted the U.S. mining giant to scale down operations in the eastern province of Papua.
* GLENCORE FORECAST: Mining and commodities trading group Glencore has raised its operating profit forecast for the trading division this year by $100 million and said its mining operations were expected to recover from some weather-related disruption at the start of the year.
* SHANGHAI NICKEL: ShFE nickel was down 2.6 percent, hurt by weaker steel prices in China, where ShFE rebar was also trading 2.6 percent lower.
* SHANGHAI ALUMINIUM: ShFE aluminium was 0.43 percent higher, while LME aluminium was up 0.2 percent at $1,916 a tonne.
* MARKETS NEWS: Asian stocks are set for a third straight day of losses on Friday as a retreat in crude oil and other commodities prices knocked global sentiment, although receding concerns about France's presidential election kept the euro near six-month highs.
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DATA/EVENTS 1230 U.S. Nonfarm payrolls Apr 1230 U.S. Unemployment rate Apr
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS ($1 = 6.8960 Chinese yuan renminbi)
Reporting by James Regan; Editing by Richard Pullin