05262016Thu
Last update: Thu, 26 May 2016 01pm

Europe

Markets - Commodities - Europe

Copper climbs to week high on short covering, tin slides LONDON: Copper prices rose on Wednesday to their highest level in a week as investors bought futures to close positions betting on price falls, unsure about the short-term market direction due to mixed signals from top metals consumer China.The move accelerated after the US market opened, as speculators there also scrambled to cover, traders said. Other metals were weaker, however, including tin, which sank to a three-month low. "By and large the price moves (in copper) we've seen over the last day or so reflect some profit taking on short positions that dominated the previous weeks," said Standard Chartered metals analyst Nicholas Snowdon in London. Investors with short copper positions profited from a slide in prices of 11 percent from late April until last week, when the metal hit three-month lows. Three-month copper on the London Metal Exchange closed up 1.1 percent at $4,654 a tonne, the strongest since May ...

Markets - Commodities - Europe

EU wheat supported by US markets and slack farmer selling HAMBURG: European benchmark wheat futures in Paris rose in light volumes on Wednesday, supported by firm US prices in Chicago and underpinned by strong export demand and slow farmer selling in France.Front-month September milling wheat on the Euronext exchange settled up 0.75 euro, or 0.5 percent, at 164.25 euros a tonne."There is still a lot of retention of grain by farmers affecting June delivery and this is continuing to support prices," a French cash broker ...

Markets - Commodities - Europe

Wheat rises for second day as rain threatens US crop HAMBURG/SINGAPORE: US wheat futures rose for a second session on Wednesday, underpinned by forecasts of rain in the US Plains grain belt which could potentially damage crops in the key production region.Soybeans rose on renewed worries about the impact of recent rain damage to Argentina's crop now being harvested. Corn was up on spillover support from the wheat and soybean markets.Chicago Board of Trade most-active July wheat was up 0.5 percent to $4.66-1/2 a bushel ...

Markets - Commodities - Europe

Copper gains on short covering, tin hits three-month low LONDON: Copper rose on Wednesday for a second session as investors bought futures to close positions betting on price falls, unsure about the short-term market direction due to mixed signals from top metals consumer China. The industrial metals market reflected the uncertainty, with others weaker, including tin, which sank to a three-month low. "By and large the price moves (in copper) we've seen over the last day or so reflect some profit taking on short ...

Markets - Commodities - Europe

Gold drops to 7-week low on Fed rate hike prospects LONDON: Gold fell to a seven-week low on Wednesday after upbeat US home sales data in the previous session boosted expectations that the Federal Reserves will press ahead with interest rate hikes in the near term.The metal has fallen more than 4 percent since Fed meeting minutes last Wednesday revived expectations for an imminent rate increase. Gold is sensitive to rising interest rates, which lift the opportunity cost of holding non-yielding assets."It all does hinge ...

Markets - Commodities - Europe

Wheat rises for second day as rain threatens US crop HAMBURG/SINGAPORE: US wheat futures rose for a second session on Wednesday, underpinned by forecasts of rain in the US Plains grain belt which could potentially damage crops in the key production region.Soybeans rose on renewed worries about the impact of recent rain damage to Argentina's crop now being harvested. Corn was up on spillover support from the wheat and soybean markets.Chicago Board of Trade most-active July wheat was up 0.5 percent to $4.66-1/2 a bushel ...

Markets - Commodities - Europe

Soybeans bounce with soymeal, buoyed by fresh sales WINNIPEG: Chicago soybean futures rose on Tuesday, shaking off earlier losses, on support from higher soymeal prices and fresh export sales.Corn and wheat also rebounded from declines earlier in the session, helped by strong corn demand and rain soaking maturing U.S. wheat crops.Chicago Board of Trade's July soybean contract climbed 6 cents, or 0.6 percent. to $10.64-1/2 a bushel by 10:37 a.m. CDT (1537 GMT), having closed 1.5 percent lower on Monday.The U.S. Department of ...