02142016Sun
Last update: Sun, 14 Feb 2016 12am

Markets - Commodities

Markets - Commodities - Europe

Copper slips to seven-week low on China economy fears LONDON: Copper fell to a seven-week low on Wednesday, dragged down by disappointing data on top consumer China's property sector which raised concerns about the outlook for the metal used in power and construction.Three-month copper on the London Metal Exchange (LME) fell to a session low of $6,911.75 a tonne, its weakest level since June 26. It later rebounded to trade down 0.5 percent at $6,930.25 a tonne at 0922 GMT.China's economy showed further signs of softening in July, with real estate investment slowing and sales falling sharply despite efforts by many local governments to shore up the troubled sector.Data also showed disappointing activity for retail sales, with growth was not as strong as expected, offsetting factory output numbers that were within expectations.China is the world's top copper consumer, accounting for around 40 percent of global refined demand."We're not very positive on the demand outlook because of the property sector, ...

Markets - Commodities - Europe

Gold above $1,300 on Ukraine worries; firmer shares, dollar weigh LONDON: Gold was supported above $1,300 an ounce on Wednesday, as investors remained cautious after downbeat data from China and as the crisis in Ukraine threatened a fragile economic recovery in Europe, but a firmer dollar and equities weighed.Spot gold was up 0.1 percent at $1,309.60 an ounce by 0947 GMT, but still well below a three-week high of $1,322.60 hit on Friday.U.S. gold futures for December delivery were unchanged at $1,310.70."It seems that the ...

Markets - Commodities - Asia

Palm weak on worries over record US soybean supply KUALA LUMPUR: Malaysian palm oil futures edged down on Wednesday to hover around their lowest levels in more than a year, weighed down by projections of bigger-than-expected supplies of rival oilseeds, which could eat into demand for the tropical oil.The US Department of Agriculture (USDA) estimated on Tuesday that US soybean stocks would end the 2014/2015 marketing year at 430 million bushels, surpassing market expectations of 414 million.Bigger supplies for crushing would weaken soyoil prices ...

Markets - Commodities - Europe

Sugar hits 5-1/2-month low, cocoa near 3-year high LONDON: ICE raw sugar futures hit a fresh 5-1/2-month low on Wednesday, pressured by high yields in Brazil, while cocoa hovered near three-year highs, bolstered by a strong demand outlook.Coffee futures on ICE Futures U.S. firmed in light volumes, with dealers focused on the extent of drought damage to crops in top grower Brazil.Brazilian cane mills said on Tuesday that rain cut sugar output in the second half of July. But futures markets, focused on ...

Markets - Commodities - Asia

Tokyo futures slip to 3-week low on weaker oil, Shanghai SINGAPORE: Tokyo rubber futures fell to their lowest in three weeks on Tuesday tracking a weak Shanghai market and as speculators ditched their contracts after a drop in oil prices, dealers said on Tuesday.The most active January contract on the Tokyo Commodity Exchange (TOCOM) settled down 3.5 yen a kg at 201.1 yen after dropping to as much as 200.3 yen, its lowest since July 23. The contract has fallen more than 26 percent so ...

Markets - Commodities - Europe

Gold firms as Ukraine jitters, soft data hurt stocks LONDON: Gold firmed on Tuesday as equities fell on fears that a Russian aid convoy heading to Ukraine could stoke tensions between Kiev and Moscow, and on signs that the stand-off was hurting confidence in the euro zone economy.Anxieties over the Ukraine crisis and how this might impact future business hit economic sentiment in Germany, the ZEW think tank said on Tuesday, as it reported a fall in investor morale to its lowest level since ...

Markets - Commodities - Europe

France raises wheat crop volume, sees mixed quality PARIS: The French farm ministry raised its estimate of the country's soft wheat crop but said heavy rain in July had led to variable quality.France, the European Union's largest wheat producer and exporter, should harvest 37.3 million tonnes of soft wheat, up from 36.5 million estimated last month and 1.2 percent above 2013 production, the ministry said on Tuesday.Other forecasters have also revised up their production outlook due to good yields and pointed to mixed ...