07272016Wed
Last update: Wed, 27 Jul 2016 10pm

Europe

Markets - Commodities - Europe

Cocoa prices to fall as market swings into surplus LONDON: Cocoa prices are forecast to fall by the end of the year as the global market swings into surplus, a Reuters poll of 11 analysts, brokers and traders showed on Monday.The survey produced a median forecast of a global cocoa surplus of 114,500 tonnes in the 2016/17 season (October/September) compared with a deficit of 245,000 tonnes in 2015/16.Supplies were expected to be boosted by a larger crop in top grower Ivory Coast of 1.80 million tonnes, up from 1.60 million in the current season. The crop in number two producer Ghana was also seen higher at 877,500 tonnes versus 800,000 tonnes.New York cocoa futures were seen ending the year at $2,850 a tonne, down 1.2 percent from Friday's close. Prices have already fallen sharply after rising to a 2016 peak of $3,237 last month.London cocoa futures were forecast to end the year at 2,100 pounds a tonne, down 9.6 ...

Markets - Commodities - Europe

Raw sugar rises after US data; arabica eases  LONDON: Raw sugar futures rose after US data showed a trimming of the net long position held by speculators, while arabica coffee eased after a truckers' strike ended in Colombia, removing potential bottlenecks for exports.London cocoa futures edged down on technically driven selling in light volumes, pressured by concerns over demand.Raw sugar futures were underpinned by a softer dollar and Friday's Commitments of Traders (COT) data showing that speculators had cut their net long position ...

Markets - Commodities - Europe

Gold slips as stocks rise ahead of Fed, BoJ meetings LONDON: Gold fell on Monday as the dollar firmed and a recovery in risk appetite supported world stock markets near nine-month highs ahead of central bank meetings in the United States and Japan.The world's major economies pledged at a G20 meeting this weekend, dominated by Britain's vote last month to leave the European Union, to use all policy tools available to boost growth. That lifted both shares and the dollar.Spot gold was down 0.7 percent ...

Markets - Commodities - Europe

Zinc resumes rally, copper falls on weak oil, profit taking LONDON: Zinc resumed its rally on Monday, powered by falling mine supply and copper fell as a sharp drop in oil prices overshadowed expectations of looser global central bank policy.G20 finance chiefs vowed at the weekend to use "all policy tools" to lift global growth after a meeting dominated by the impact of Britain's exit from the European Union."They (G20 ministers) want to explore what options - including fiscal policy measures - are available to ...

Markets - Commodities - Europe

Gold slips on nervousness over Fed policy outlook LONDON: Gold prices fell on Friday, reflecting tension between a global backdrop of easier interest rates and the chance of US monetary policy being tightened before the end of the year.Spot gold slid 0.6 percent to $1,323.22 an ounce by 1416 GMT, on course for a weekly decline of about 1 percent.Bullion has benefited significantly - hitting its highest in two years this month - as central banks from Europe to Japan keep policy looser ...

Markets - Commodities - Europe

EU wheat soars on concerns over final volume of French crop PARIS: European wheat prices rocketed on Thursday on growing concerns about the final size of the harvest in top European Union producer and exporter France, traders said.Front-month September on Paris-based Euronext milling wheat futures unofficially closed 4.5 percent higher at 167.75 euros a tonne, a price unseen since June 14.December was 3.4 percent higher at 169.00 euros.Traders said they expected September to surpass December on short covering due to the poorer-than-expected quality of the harvest."It ...

Markets - Commodities - Europe

Gold holds above 3-week low as ECB leaves rates unchanged LONDON: Gold remained above a three-week low on Thursday, as the dollar and European shares fell after the European Central Bank left key interest rates unchanged, but better-than-expected US jobs data weighed.The ECB held rates at record lows as it seeks to revive growth and inflation with cheap credit to the economy. It added that it still expects its key interest rates to remain at present or lower levels for an extended period.ECB President Mario ...