07242016Sun
Last update: Sun, 24 Jul 2016 05pm

Australia

Markets - Commodities - Australia

London copper jumps above $5,000 as risk appetite returns MELBOURNE: London copper surged through the $5,000 mark on Wednesday for the first time since late April, as renewed appetite for risk triggered a furious flurry of short-covering.Prospects of solid U.S. growth and accommodative economic policy in major markets whet investor risk appetite that had been damaged by uncertainty from Brexit.A weaker dollar and looser fiscal policy raise the allure of hard assets such as commodities that tend to hold their value as that of paper money falls."There's been a definite risk-on tone which has been driving markets," said analyst Daniel Hynes of ANZ in Sydney."In base metals, the market is definitely taking a glass half full approach at the moment and it's probably a bit premature, given concerns over China's growth and the questions over rising inventories."London Metal Exchange copper jumped to $5,032 a tonne, its strongest since April 29, before trading at $5,006 by 0327, up 2.8 percent ...

Markets - Commodities - Australia

Nickel rises for third day as Philippine supply threat simmers MELBOURNE: London nickel and copper rose for a third day on Tuesday on Philippine supply concerns, and after investors took heart from a robust U.S. labour report.Concerns that the Philippines, China's top supplier of nickel ore used in making stainless steel, may shut some mines after a month-long review that started in July has boosted nickel prices. Nickel prices in London have climbed 7.2 percent since the country announced the review on July 1."It's not ...

Markets - Commodities - Australia

London copper drifts on firmer dollar, nickel takes aim at $10,000 MELBOURNE: London nickel took another shot at the $10,000 mark on Monday as prices gained steam on supply concerns after the Philippines toughened its stance on mining, threatening supply to China.LME nickel rose 1.1 percent to $9,985 a tonne, within sight of the $10,410 a tonne it touched on July 4, the highest since last October. Prices have jumped 32 percent from 13-year lows hit in mid-February.The Philippines has ordered the suspension of operations at ...

Markets - Commodities - Australia

Wheat rebounds from near four-month low; global supplies cap gains SYDNEY: US wheat edged higher on Thursday, rebounding from a near four-month low touched in the previous session, though ample global supplies provided a ceiling to gains.Corn rose nearly 1 percent, recouping about a third of the losses from the previous session, while soybeans rose more than 0.5 percent.The most active wheat futures on the Chicago Board of Trade rose 0.4 percent to $4.46-1/4 a bushel by 0541 GMT, after closing down 2.8 percent on ...

Markets - Commodities - Australia

Wheat rebounds from near 4-month low; global supplies cap gains SYDNEY: US wheat edged higher on Thursday, rebounding from a near four-month low touched in the previous session, though ample global supplies provided a ceiling to gains.Corn rose nearly 1 percent, recouping about a third of the losses from the previous session, while soybeans rose more than 0.5 percent.The most active wheat futures on the Chicago Board of Trade rose 0.28 percent to $4.45-3/4 a bushel on Thursday, after closing down 2.8 percent on Wednesday ...

Markets - Commodities - Australia

London copper buoyed near 8-week high as dollar slips MELBOURNE: London copper hovered near its highest in eight weeks on Thursday as the dollar eased following recent gains in the wake of Britain's stunning vote to leave the European Union.A softer dollar gives buyers of commodities paying with other currencies stronger purchasing power.But metals markets were supported by Chinese stimulus measures, helping offset pressure from a wave of new supply.China's infrastructure investment in the first five months of 2016 grew 19.8 percent year-on-year, accelerating ...

Markets - Commodities - Australia

London copper climbs as dollar eases; Brexit ripples spur caution MELBOURNE: London copper advanced one percent on Monday as the dollar dropped on expectation that Britain's vote last week to leave the European Union would delay the first U.S. rate rise of the cycle.Britain plunged deeper into political crisis on Sunday in the wake of the referendum, leaving EU and world officials confused about what to do next.Finance minister George Osborne said on Monday Britain's vote to leave the European Union was likely to lead ...