02082016Mon
Last update: Mon, 08 Feb 2016 04am

Europe

Markets - Commodities - Europe

Gold retreats from 12-week high after Fed meeting LONDON: Gold retreated on Thursday as investors cashed in gains from the previous day's rally to 12-week highs, and after the Federal Reserve indicated it is still on course to raise interest rates this year, despite financial market volatility.Spot gold was down 0.6 percent at $1,118.36 an ounce at 1033 GMT.The Fed kept interest rates unchanged on Wednesday and said it was "closely monitoring" global economic and financial developments, signalling it had accounted for a stock market selloff but wasn't ready to abandon a plan to tighten monetary policy this year.While the statement was interpreted to mean the Fed was cautious on raising rates further, expectations for a dovish statement had been high going into the meeting."(This) could indicate the market was looking for a bit more than the FOMC could deliver in terms of dovishness," Saxo Bank's head of commodity research, Ole Hansen, said."We have rallied a fair bit ...

Markets - Commodities - Europe

Copper slides as China's New Year break comes into view LONDON: Copper slid on Thursday as the market started to factor in slower activity in China ahead of the New Year holiday, but expectations of stronger imports by the top consumer in January and a weaker dollar helped limit losses.Benchmark copper on the London Metal Exchange was down 0.7 percent at $4,557 a tonne at 1126 GMT. The metal used in power and construction touched $4,595 a tonne on Wednesday, its highest since Jan. 8.Traditionally ...

Markets - Commodities - Europe

Raw sugar falls sharply on fund selling, coffee climbs LONDON: Raw sugar futures fell to a 3-1/2 month low on Wednesday, weighed down by technically-driven fund selling after a key support level was breached, dealers said.Arabica coffee futures rose sharply as the market extended its rebound from contract lows set a week ago while cocoa futures were lower."Technical support has been breached and we are seeing some fund long liquidation here," one sugar dealer said.March raw sugar was off 0.38 cents, or 2.7 percent, ...

Markets - Commodities - Europe

Coffee prices rise as origin selling of robustas slows LONDON: Robusta coffee futures edged higher on Wednesday with its recent decline running out of steam as the pace of origin selling in Vietnam slowed while arabica coffee also bucked overall weakness in commodity markets.Raw sugar futures dipped to a three-month low and cocoa also slipped as commodities markets took their cue from crude oil prices that fell back after Tuesday's advance.Robusta coffee prices had been suppressed this month by heavy selling by Vietnamese traders, ...

Markets - Commodities - Europe

Gold below 12-week top on investor caution before Fed statement LONDON: Gold steadied below a 12-week peak on Wednesday as investors remained cautious ahead of the Federal Reserve's first policy statement of the year, which is expected to give clues on interest rates.While the U.S. central bank is likely to keep key rates unchanged at the conclusion of its two-day meet later in the day, investors are keen to see its latest outlook on global economic headwinds."A potential further decline in equities and market uncertainty ...

Markets - Commodities - Europe

Copper slips off high as traders eye Fed meeting LONDON: Copper steadied on Wednesday after hitting its highest since Jan. 8 as oil resumed its fall and investors became cautious ahead of a Federal Reserve policy meeting later in the day.The metal was underpinned, however, by better than expected Chinese import data released a day earlier.Oil fell as rising inventories wiped out optimism about possible supply cuts, deterring investors from buying commodity basket funds that include copper.The Federal Reserve is expected to leave interest ...

Markets - Commodities - Europe

Wheat eases after one-month high on Russia export doubts PARIS/SYDNEY: US wheat edged lower on Wednesday to come off a one-month high as a renewed slide in oil and equities hurt overall markets sentiment, and a proposal by Russia's farm ministry to cut a wheat export tax tempered speculation about export restrictions.Corn and soybeans were little changed as traders weighed bearish outside markets against weather concerns in South America and southern Africa.Chicago Board of Trade front-month wheat fell 0.8 percent to $4.81 a bushel ...