01172017Tue
Last update: Tue, 17 Jan 2017 03pm

Europe

Markets - Commodities - Europe

Copper steady ahead of US payrolls, China underpins LONDON: Copper was little changed on Friday ahead of a key US payrolls report that could boost the dollar, though recent signs of economic improvement in China and the US kept the sell impulse in check. The dollar edged up from a three-week low as traders expect US payrolls will show employers maintained a solid pace of hiring in December, putting the economy on a path to stronger growth and further interest rate increases. A stronger dollar makes dollar-priced metals costlier for non-US investors. "The dollar does seem to be moving prices quite a bit this week," said Capital Economics' senior commodities economist Caroline Bain. Investors in copper have grown cautious after prices rose 2.6 percent on Wednesday to their highest since Dec. 16, trying to gauge to what extent the economic recovery in China and the US has been priced in."The rally (last year) got ahead of itself. Optimism ...

Markets - Commodities - Europe

Wheat again firm on fund rebalancing, weather worries HAMBURG/SINGAPORE: Chicago wheat rose again on Friday, supported by a combination of short-covering before investment fund portfolio changes and concerns about bad weather in the United States and eastern Europe, along with the impact of a weaker dollar this week.Soybeans eased for a second day, while corn fell in profit-taking after strong weekly gains."Markets are moving on a series of factors today rather than one dominant reason," said Matt Ammermann, commodity risk manager at INTL ...

Markets - Commodities - Europe

Cocoa prices rise on Ivory Coast conflict, sugar slips LONDON: Cocoa prices rose on Friday as former soldiers seized control of the second largest city in top grower Ivory Coast, prompting a wave of short covering. Dealers said the unrest appeared to be spreading with reports that gunfire had erupted in the western cocoa growing region of Daloa, hours after demobilised soldiers seized the second largest city, Bouake. "The first story was in a town (Bouake) which isn't in the cocoa areas but then ...

Markets - Commodities - Europe

Raw sugar hits 1-1/2 month high, coffee jumps LONDON: Raw sugar hit a 1-1/2 month high on Wednesday on sustained concerns of a cane shortage in India, the world's second-largest producer, while coffee jumped on currency strength in major producers Vietnam and Brazil. ICE front-month raw sugar futures rose to 20.92 cents per lb, the highest since Nov. 16. They traded down 0.04 cent, or 0.2 percent, at 20.47 cents by 1418 GMT. Over two dozen mills in Maharashtra, India's top-producing sugar state, ...

Markets - Commodities - Europe

Copper rises as dollar rally fizzles, China plans rail expansion LONDON: Copper rose on Wednesday as the dollar retreated from a 14-year high and Chinese plans to add 2,100 km (746 miles) of track to its railway network this year bolstered demand expectations. Benchmark copper on the London Metal Exchange was up 2 percent at $5,608 a tonne at 1452 GMT. Much of the gains came after New York opened and copper broke through key resistance at $5,610 a tonne, traders said. The metal used ...

Markets - Commodities - Europe

Gold hits near 4-week high as dollar retreats, demand surges LONDON: Gold touched a near-four week high on Wednesday as the dollar edged back from a 14-year peak and physical demand from major consumers China and India increased.Spot gold climbed to its highest since Dec. 9 at $1,167.83 an ounce and was up 0.5 percent at $1,165.22 by 1514 GMT.US gold futures climbed $3.80 to $1,165.90 an ounce."The dollar index has consolidated and the big outflow from exchange-traded products (ETPs), which has been the biggest ...

Markets - Commodities - Europe

EU wheat hits five-week high as strong US market supports PARIS: European wheat hit a five-week high on Tuesday, supported by a strong US market and a weaker euro against the dollar, making it more competitive on world markets.March milling wheat on Paris-based Euronext was 0.7 percent higher by 1656 GMT to 169.25 euros a tonne, its highest since Nov. 28.In Chicago, wheat rose for a third straight session on technical buying and fund-driven short-covering. Light support also came from dry conditions in parts of ...