LONDON  - Copper turned positive and hit its highest in more than a month on Wednesday, as the euro rose on media reports the European Central Bank would unveil a new programme of bond purchases, raising hopes of an improvement in the EU debt crisis and boosting appetite for riskier assets. Three-month copper on the London Metal Exchange was up by 1.1 percent to $7,720 per tonne by 1403 GMT.   The metal earlier rose to a session high of $7,750 a tonne, its highest since July 20, as the euro reversed early losses and rose sharply on reports the ECB would, with broad support from its council members, unveil an unlimited, sterilized programme of bond purchases. The ECB could start to buy Portuguese bonds quickly after revealing its anti-crisis plan on Thursday.    “The markets have been pumped up on the belief that the ECB will announce at its meeting tomorrow that it will restart its bond buying program to address the spike in borrowing cost in some of the weaker euro zone countries,” Societe Generale analyst Robin Bhar said.“But high expectations also means high potential to disappoint. The next big event will be the Fed meeting next week as there are high hopes that Bernanke will put through more stimulus into the economy too.”Stimulus measures or monetary easing intended to relaunch economic growth would strongly benefit industrial metals demand growth, which has recently slowed down together with industrial activity in most regions. A survey published on Wednesday showed the euro zone is likely to have slipped back into recession in the current quarter as the bloc’s private sector suffered a seventh month of contraction as new orders dwindled. Investors were also hoping that China, which accounts for about 40 percent of global copper demand, would attack slowing growth with some more resolute stimulus measures.   So far there have been more moderate measures, including a series of announcements this week about infrastructure spending, notably from the Ministry of Railroads.    A forecast deficit in copper supply this year however was supporting the metal price.“Things are cooling down in China but we’re still expecting demand growth of 5 percent for copper, in part due to the roll-out of electricity projects. We are expecting copper to outperform other metals over the next six months,” said Matt Fusarelli, an analyst at Australia-based consultancy AME Group.A trader in China’s Guangzhou province said anticipation of further easing by Beijing had been supporting domestic prices. However, the trader said he saw copper prices falling as strong U.S. equities attracted investors and Chinese industrial demand growth moderated.        Three-month lead rose 0.5 percent to $2,005 and nickel gained 0.15 percent to $15,958.Aluminium went up by 0.5 percent to $1,955 a tonne versus a last bid of $1,944.50 on Tuesday and solder material tin was little changed versus its Tuesday’s close, at $19,635.Zinc, used in galvanizing, was at $1,879 per tonne, up 0.1 percent from a closing bid of $1,876 on Tuesday.