09252016Sun
Last update: Sun, 25 Sep 2016 06pm

Europe

Markets - Commodities - Europe

Nickel hits six week high on Philippine supply risks LONDON: Nickel hit a six-week high on Friday as markets braced for news of more Philippine mine suspensions next week in a crackdown on environmental lapses in the world's biggest nickel ore supplier. A dozen more Philippine mines, mostly nickel projects, are in danger of being suspended when the government announces the results of its audit next Tuesday. The Philippines has already halted the operations of 10 mines, eight of them nickel producers, on environmental grounds since it launched an audit in July. "There's a massive risk in this market. There really isn't another country that can step into the gap if a substantial amount of Philippine material is taken out," said Macquarie analyst Vivienne Lloyd. The Philippines accounts for more than 90 percent of China's nickel ore imports. Nickel on the London Metal Exchange rose 0.4 percent to $10,700 a tonne by 1010 GMT, having earlier hit a six-week ...

Markets - Commodities - Europe

Gold slips on firm dollar, set for best weekly gain in 2 months BENGALURU: Gold edged lower on Friday, backing off the two week high struck in the previous session as the dollar stayed firm, but the yellow metal was still on track for its biggest weekly gain in nearly two months.Spot gold was slightly down 0.2 percent to $1,334.71 an ounce by 0732 GMT, but was set for a weekly gain of nearly 2 percent, the highest since end-July.US gold futures slipped 0.4 percent to $1,339 an ...

Markets - Commodities - Europe

Sugar sets 4-year peak on chart buying, cocoa also higher LONDON: Raw sugar futures rose sharply on Thursday, as bullish charts and the US Fed's decision to keep interest rates steady until the end of the year pushed the contract to a four-year high. March raws were up 0.60 cents or 2.6 percent at 23.36 cents per lb at 1403 GMT after rising to a peak of 23.88, the highest for the second month since July 2012. "On the chart front, the market has been ...

Markets - Commodities - Europe

EU clears 452,000 tonnes soft wheat export licences this week PARIS: The European Union granted export licences for 452,000 tonnes of soft wheat this week, taking the total so far in the 2016/17 season that began on July 1 to 5.9 million tonnes, official data showed on Thursday. The EU also awarded 84,000 tonnes of barley export licences, taking the total since July 1 to 1.2 million tonnes. In imports, it cleared licences for 186,000 tonnes of maize, taking the total so far this season ...

Markets - Commodities - Europe

Gold shines as dollar slips after Fed decision LONDON: Gold hit a two-week high on Thursday after the US Federal Reserve's decision to keep interest rates on hold sent the dollar to its lowest level since the start of last week.Bullion gained on Wednesday after the Fed stayed pat on rates but indications it could still tighten monetary policy in the world's biggest economy by the end of the year weighed on gold prices initially on Thursday.Gold is highly exposed to monetary policy, ...

Markets - Commodities - Europe

Coal futures touch highest level since mid-August LONDON: European coal futures hit their highest level since the middle of August on Thursday due to a softer dollar and in line with price rises in other European energy markets, while physical prices also rose due to disruptions in Australia. In the futures market, the API2 2017 contract was $0.85 higher at $60.20 a tonne.The contract touched an intra-day high of $60.50 a tonne in earlier trade, its highest level since Aug. 15. In ...

Markets - Commodities - Europe

Sugar sets 4-year high on chart buying, cocoa also climbs LONDON: Raw sugar futures shot up on Thursday, as bullish charts and the US Fed's decision to keep interest rates steady until the end of the year pushed the contract to a four-year high. March raws were up 0.91 cents or 4 percent at 23.67 cents per lb at 1010 GMT after rising to a peak of 23.45, the highest level for the second month since July 2012."On the chart front, the market has been ...