02092016Tue
Last update: Tue, 09 Feb 2016 08pm

Europe

Markets - Commodities - Europe

Algeria bought 450,000-500,000 T wheat in tender PARIS: Algeria's state grains agency OAIC bought between 450,000 tonnes and 500,000 tonnes of optional-origin milling wheat in a tender this week, European traders said on Thursday. OAIC paid around $178 a tonne, cost and freight included, for the wheat, which was likely to be sourced in France and also partly in the UK, they said. Traders said the very low price paid had limited the volume offered by exporters, although the exact volume purchased remained unclear. Algeria, one of the world's largest grain importers, does not publish details of its tenders and results cited by trade sources are estimates. OAIC had been seeking wheat for shipment in April and May. Copyright Reuters, 2016 ...

Markets - Commodities - Europe

Copper supply cuts no consolation for price bulls LONDON: An expected axing of copper miners' loss-making output this year may put a floor under the price of the metal, but weaker prospects for demand growth in top consumer China should curb any gains. Producers hoping prices would pick up have for months resisted output cuts.Many that are losing money, however, will likely have to slash production over coming months. Data from the GFMS team at Thomson Reuters shows around 50 percent of mines ...

Markets - Commodities - Europe

Copper hits 1-month high ahead of Lunar New Year LONDON: Copper hit a one-month high on Wednesday as inventories declined, oil prices bounced and traders continued to reverse bets on falling prices ahead of the Lunar New Year break.Also helping the metal, the dollar tumbled as scepticism over rate hikes grew following weak U.S. services data. A soft dollar makes metals priced in the currency cheaper for non-U.S. investors.Oil rallied on fresh talk of output cuts, tempting investors into commodity funds that include metals, ...

Markets - Commodities - Europe

Palm oil firmer on weak dollar, strong energy ROTTERDAM: Palm oil on the European vegetable oils market rose on Wednesday following a rally in energy markets and because of weaker dollar."Malaysian palm oil futures set the tone early in the day on concerns over output, prices gained more on the dollar and a steep rise in mineral oil. Business picked up as the gains sparked some covering," one broker said.Palm oil was offered between $2.50 and $10 a tonne up from Tuesday after ...

Markets - Commodities - Europe

EU wheat at new low as Egypt rule reversal fails to lift mood PARIS: European wheat futures sank to fresh contract lows on Wednesday as traders reacted cautiously to a move by Egypt to resolve a standoff over import terms, and a jump in the euro underlined a tough export outlook.Egypt said it would accept imports with up to 0.05 percent of grain fungus ergot, reversing a recent zero-tolerance policy that prompted traders to boycott a tender a day earlier.Egypt's announcement spurred a brief bounce in Euronext futures ...

Markets - Commodities - Europe

Gold sets new 3-month high as investors shun risky assets LONDON: Gold hit three-month highs on Wednesday as the dollar slid versus the euro and European shares fell sharply, prompting investors to seek shelter in assets perceived as safer. Data showing the US economy's services sector expanded in January at a slower pace than expected overshadowed stronger-than-expected US ADP private payrolls data, helping knock the dollar to a 14-week low against the euro. Spot gold was up 0.9 percent at $1,138.46 at 1618 GMT, having ...

Markets - Commodities - Europe

Copper hits 1-month high ahead of Lunar New Year LONDON: Copper hit a one-month high on Wednesday as inventories declined, oil prices bounced and traders continued to reverse bets on falling prices ahead of the Lunar New Year break. Also helping the metal, the dollar tumbled as scepticism over rate hikes grew following weak US services data. A soft dollar makes metals priced in the currency cheaper for non-US investors.Oil rallied on fresh talk of output cuts, tempting investors into commodity funds that include ...