MELBOURNE, April 21 (Reuters) - London copper was little changed on Tuesday as initial relief following a cut to China’s bank reserve requirements was eclipsed by a resumption of worries over its beleaguered property sector.
* Three-month copper on the London Metal Exchange was flat at $5,980.50 a tonne by 1242 GMT, after 1.2 percent losses from the previous session when it hit a four-week top at $6,173 in the wake of China’s cut to reserve requirements that China’s banks must keep.
* The most-traded June copper contract on the Shanghai Futures Exchange fell 1 percent to 43,360 yuan ($6,993) a tonne.
* A cloudy outlook for China’s property market continues to loom over its outlook for metals demand. China’s drumroll of policy support for its flagging housing market has met an unlikely foe: banks.
* Troubled Kaisa Group became on Monday the first Chinese property developer to default on its dollar bonds when it confirmed it had failed to pay a coupon on two senior notes.
* The European Central Bank is confident that euro zone growth will become more robust and that inflation will return to its medium-term target “without undue delay,” ECB President Mario Draghi said.
* Rio Tinto on Tuesday posted a sharp rise in quarterly iron ore output amid a push to capture more of the global market despite a mounting supply glut driving ore prices to 10-year lows.
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* Equity markets rebounded on Monday after China took steps to stimulate its economy and Wall Street also rose on corporate earnings, while the euro weakened further on worries about Greece.
0900 Germany ZEW economic sentiment Apr
1255 U.S. Redbook weekly retail sales
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
Three month LME tin ($1 = 6.2005 Chinese yuan renminbi) (Reporting by Melanie Burton)