02082016Mon
Last update: Mon, 08 Feb 2016 07am

Markets - Commodities

Markets - Commodities - Europe

London copper falls as China factory activity shrinks MELBOURNE: London copper slipped on Monday after China's manufacturing growth shrank at the fastest pace in more than three years in January, underlining slowing appetite from the world's top metals consumer. Activity in China's manufacturing sector contracted at its fastest pace in almost three-and-a-half years, missing market expectations, an official survey showed.The gauge underscored worries that China's commodity demand is waning, which has undermined prices sector-wide. However, China's copper imports have stayed strong and dips have found support, suggesting prices have marked a floor, Jonathan Barratt, chief investment officer at Ayer's Alliance in Sydney, said."Now is the time to get long. We've been down here for such a long time, but each dip is being supported. You look at the consumption numbers coming out of China -- they're still solid. China is still stimulating its economy and that will transfer into commodities demand," he said.China's leaders are expected to target ...

Markets - Commodities - Asia

Gold extends gains as China stocks slip on weak PMI MANILA: Gold advanced at the start of the month on Monday, extending gains after ending January with its biggest monthly jump in a year, as poor Chinese manufacturing numbers underlined the weak outlook for the global economy. China's stocks fell after an official measure of manufacturing in the world's No. 2 economy hit its lowest since mid-2012.Inflows into the world's largest gold-backed exchange-traded fund were the strongest in a year last month as investors moved ...

Markets - Commodities - Asia

Wheat falls for second day, market eyes Russia's export tax cuts SINGAPORE/PARIS: US wheat extended its losses on Thursday, after suffering its biggest drop in two weeks in the previous session, as Russia's plans to remove or cut export taxes hurt the market.This week, wheat hit a one-month high on talk of tighter export curbs by Russia, but Moscow later tempered the speculation saying it would discuss removing or cutting the tariff at a meeting on Jan. 29 with Deputy Prime Minister Arkady Dvorkovich, who is ...

Markets - Commodities - Europe

Robusta dips as Vietnam pre-Tet sales wind down, sugar falls LONDON: Robusta coffee on ICE eased on Thursday, nearing multi-year lows, as producer selling wound up before Vietnam's Tet holiday, while raw sugar hit a 3-1/2-month low, pressured by expectations of a big centre-south Brazil 2016/17 harvest.Cocoa fell to multi-month lows, weighed down by abundant nearby supplies.Robusta coffee futures eased on investor and producer selling, with physical business ahead of the Tet holiday next month in top producer Vietnam wrapping up."After Tet there will be ...

Markets - Commodities - Europe

Gold retreats from 12-week high as Wall Street rises LONDON: Gold fell by 1 percent on Thursday as Wall Street rose on the back of a rally in oil prices, with bullion investors quick to cash in gains from the Wednesday's rally to 12-week highs.U.S. stocks opened higher as oil rebounded on talk of a concerted response to low prices by Russia and OPEC producers, a day after the U.S. Federal Reserve gave little indication of slowing the pace of future rate hikes.Spot gold ...

Markets - Commodities - Asia

TOCOM slides as selloff in China equity drags TOKYO: Benchmark Tokyo rubber futures slid in thin trade on Thursday as investors sold back long positions as a sharp selloff in Chinese stock market renewed concerns about slowing demand in top buyer China.The Tokyo Commodity Exchange rubber contract for July delivery finished 1.1 yen, or 0.7 percent, lower at 157.8 yen ($1.33) per kg.China stocks slumped again on Thursday to a fresh one-year low as panic selling resumed, with Shanghai's Composite Index ending down ...

Markets - Commodities - Europe

Gold retreats from 12-week high after Fed meeting LONDON: Gold retreated on Thursday as investors cashed in gains from the previous day's rally to 12-week highs, and after the Federal Reserve indicated it is still on course to raise interest rates this year, despite financial market volatility.Spot gold was down 0.6 percent at $1,118.36 an ounce at 1033 GMT.The Fed kept interest rates unchanged on Wednesday and said it was "closely monitoring" global economic and financial developments, signalling it had accounted for a ...