12082016Thu
Last update: Thu, 08 Dec 2016 02pm

Australia

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 slightly from Jan-April and faster than 17.3 percent in 2015, noted Hong Kong based broker Argonaut Securities."Overall, we think China's commitment in infrastructure-related investment should help support overall economic growth and commodity demand," it said in a report.Three-month copper on the London Metal Exchange had edged up 0.1 percent to $4,843.50 a tonne by 0136 GMT, having hit its strongest level since May 5 in the prior session at $4847.50 a tonne.Shanghai Futures Exchange copper ...

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 ...

Markets - Commodities - Australia

London copper treads water as Brexit ripples spur caution MELBOURNE: London copper's price was little changed on Monday as caution dominated the market in the aftermath of Britain's vote last week to leave the European Union.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.British Finance Minister George Osborne, who had warned during the campaign that a "Brexit" would cause financial market volatility, scheduled a statement for 7 a.m. ...

Markets - Commodities - Australia

London copper slides, metals sour as Britain faces EU exit MELBOURNE: London copper fell on Friday and selling spilled into other metals, after referendum results showed that British voters have embarked on a path to depart the European Union. The reaction of base metals was more subdued than in other commodities markets, where gold rallied the most since 2008 and oil plunged. Traders said this could be down to relatively lower investor capital in the downtrodden sector that is sitting around the cost of production ...

Markets - Commodities - Australia

Copper rises to two-week high on hopes Britain to stay in EU MELBOURNE: London copper rose to its highest in two weeks on Wednesday as safe-haven demand for the dollar fell on hopes that Britain will vote to remain in the European Union.A softer dollar, which makes commodities cheaper for buyers paying with other currencies, also triggered a volley of short-covering ahead of the vote, traders said."Investors remain cautious despite recent polls suggesting the chances of the UK leaving the EU had fallen," ANZ said in a ...

Markets - Commodities - Australia

Corn falls to near two-week low on positive US crop condition MELBOURNE: US corn fell to its lowest in more than a fortnight on Tuesday after the U.S. Department of Agriculture rated the Midwest corn crop in better condition than the market had anticipated after a spate of hot weather.The U.S. Department of Agriculture's weekly crop progress report rated 75 percent of the corn crop in good to excellent condition, unchanged from the previous week. Analysts surveyed by Reuters had expected a decline after a hot ...

Markets - Commodities - Australia

London copper slips on worries about global oversupply MELBOURNE: London copper slipped on Tuesday, as worries about global oversupply eclipsed support from a softer dollar and polls suggesting that Britain will remain in the European Union.China's copper imports jumped by 15.9 percent to 319,255 tonnes in May, data from the country's General Administration of Customs showed. But copper exports surged by 256 percent on the year to 84,959 tonnes."It's in the context of very strong copper flows earlier this year," said analyst Dan ...