12112016Sun
Last update: Sun, 11 Dec 2016 04pm

Europe

Markets - Commodities - Europe

Gold pressured by firm dollar, vulnerable to downside LONDON: Gold was barely changed on Wednesday, but some analysts say there is scope for further downside after bullion endured its worst month of losses since June 2013.Gold has shed about 7 percent in November and analyst Daniel Briesemann at Commerzbank in Frankfurt reckons that bullion has not yet stabilised."Recently there's been a perfect storm against gold with higher risk appetite, rising stock markets and bond yields, massive ETF (exchange traded fund) outflows and the withdrawal of speculative financial investors," he said."We don't think this is over yet. Normally lower prices should attract higher demand, but the Indian situation is putting the brakes on gold buying."The shock withdrawal of high-value notes to fight "black money" in India, the world's second biggest consumer of gold, has hit gold demand during the peak wedding season. Spot gold on Wednesday was down 0.1 percent at $1,187.67 an ounce at 1100 GMT. US gold futures fell 0.1 percent to $1,186.70. Bullion has lost $150 from a Nov. 9 post ...

Markets - Commodities - Europe

Copper falls to 1-week low, reality check stalls rally LONDON: Copper fell to one-week lows on Wednesday as investors cut bets on higher prices due to growing doubts that this month's sizzling rally was built on solid fundamentals.   Benchmark copper on the London Metal Exchange fell to a one-week low of $5,612.50, before inching up 0.7 percent to $5,744 a tonne. The metal used widely in power and construction hit $6,045.50 on Monday, its highest since June last year. "Fundamentals haven't really changed...speculative flows have been reversed," said Haitong Bank analyst Andrew ...

Markets - Commodities - Europe

Raw sugar edges up as fund selling abates LONDON: Raw sugar futures on ICE edged higher on Monday as a bout of fund selling which drove prices to a 2-1/2 month low last week appeared to have abated. March raw sugar was up 0.17 cents, or 0.9 percent, at 20.01 cents per lb at 1305 GMT.The front month had dipped to a low of 19.57 cents on Wednesday, its weakest since Sept. 1, and rebounded off a low of 19.58 cents on Friday. ...

Markets - Commodities - Europe

China-driven rally sends zinc to near decade high, lead soars LONDON: Zinc soared to a nine-year high on Monday and lead hit a five-year peak as reports of more infrastructure investment in China and signs of strong property investment in the world's top metals user sparked heavy buying. Zinc, used to galvanise steel, was the biggest winner as Chinese steel futures jumped to 31-month highs, driven also by a rotation of funds into risky assets, supported by optimism over global growth into 2017. China on ...

Markets - Commodities - Europe

Gold climbs as dollar and US bond yields retreat LONDON: Gold prices rose more than 1 percent on Monday, recovering from their lowest levels since February as the dollar and long-dated US Treasury bond yields retreated from recent highs.Spot gold was up 0.7 percent at $1,191.26 an ounce by 1119 GMT, after climbing as high as $1,197.54 earlier in the session. US gold futures were up 1 percent at $1,190.30 an ounce.Spot prices marked their lowest since Feb. 8 at $1,171.21 on Friday, under ...

Markets - Commodities - Europe

Europe Distillates-Diesel diffs strengthen on tight supplies LONDON: Diesel barge differentials in northwest Europe firmed on Friday as slower inflows into the region kept the market supported. Refinery turnarounds at Middle Eastern refineries, and unplanned problems at units in the US Gulf, cut into Europe's imports. Gasoil stocks independently held in Europe's Amsterdam-Rotterdam-Antwerp hub fell almost 4 percent to 2.614 million tonnes in the week to Thursday, the latest data from consultancy PJK International showed. Lufthansa said on Friday it had made ...

Markets - Commodities - Europe

EU wheat hesitant, rapeseed eases from highs PARIS: Western European wheat prices were mostly little changed on Friday as traders made technical adjustments during a holiday lull on US grain markets. Rapeseed futures in Europe again showed sharper movements as a slide in crude oil encouraged rapeseed to pull back from contract highs struck on Wednesday.December milling wheat on the Paris-based Euronext settled unchanged on the day at 168.25 euros a tonne, consolidating below a three-month high of 170.00 euros seen earlier ...