08242016Wed
Last update: Wed, 24 Aug 2016 07am

Europe

Markets - Commodities - Europe

Sugar, coffee prices regain ground as dollar weakens LONDON: Sugar, coffee and cocoa futures rose on Thursday, buoyed by a broad-based advance in crude oil and some other commodity markets linked partly to a softer dollar.ICE Oct raw sugar rose 0.27 cent, or 1.4 percent, to 19.99 cents per lb by 1439 GMT, regaining some ground after dropping 3 percent on Wednesday.Dealers said sugar had become range bound with solid support around the recent low of 19.50 cents a lb while the upside potential continued to be capped by ample nearby availability linked to the strong pace of the cane crush in Brazil.Brazil's crop supply agency Conab on Wednesday upwardly revised its forecast for sugar production in the main centre-south region."The increased sugar supply from Brazil is likely to reduce the expected supply deficit. That said, other market observers such as the consultant firm Datagro and UNICA are not as optimistic as Conab," Commerzbank said in a market ...

Markets - Commodities - Europe

Gold up as Fed minutes cool rate hike prospects, weigh on dollar LONDON: Gold rose on Thursday, buoyed by a weaker dollar after minutes from the US Federal Reserve's July meeting showed policymakers were divided over whether to raise interest rates soon.Members of the Fed's rate-setting Federal Open Market Committee were generally upbeat about the US economy and labour market, but several said any slowdown in future hiring would argue against a near-term hike.Spot gold was up 0.2 percent at $1,350.47 an ounce at 1203 GMT, on ...

Markets - Commodities - Europe

Soft dollar gives copper a helping hand LONDON: Copper prices rose on Thursday as the dollar slipped after minutes of the Fed's last meeting showed little support for an imminent U.S. rate rise and worries about demand in top consumer China receded.Benchmark copper on the London Metal Exchange traded up 0.9 percent at $4,818 a tonne in official rings.Fed officials agreed at the July meeting that more economic data was needed before raising rates. This put pressure on the U.S. currency, which ...

Markets - Commodities - Europe

Soybeans off 4-week top as big crop caps export rally PARIS/SINGAPORE: Chicago soybean prices eased on Thursday as the prospect of a bumper US harvest this year curbed an export-fuelled rally that took prices to a four-week high earlier in the session.The run-up to weekly US export figures at 1230 GMT also encouraged the oilseed market to pause after its recent strength, linked to a series of sales to top importer China.Corn was flat, consolidating after a four-session rally that had seen the cereal recover ...

Markets - Commodities - Europe

Premium of zinc over lead retreats after hitting 9-year peak LONDON: The premium of the zinc price over sister metal lead is due to extend its decline in coming weeks after touching a high of close to $500 last week, the strongest since 2007.Zinc is expected to struggle to hit fresh peaks as investors worry about possible restarts of closed mines at the same time lead moves into its strongest seasonal period for demand. Prices of the two metals, usually found in the same mines, ...

Markets - Commodities - Europe

European vegoils-Prices surge as palm oil supplies tighten LONDON: Palm oil prices in Europe were sharply higher on Wednesday, boosted by tightening supplies, while rival vegetable oil markets also advanced. Dealers said palm oil stocks were low with production curtailed by adverse weather linked to the El Nino weather phenomenon which brings scorching heat across Southeast Asia, lowering yields in key producers Indonesia and Malaysia. Demand from China should also boost prices. "We are expecting a big demand from China and stocks are ...

Markets - Commodities - Europe

France wheat imports set to continue after poor crop PARIS: A vessel is due to reach France next week to unload wheat from Bulgaria while cargoes of UK wheat are also expected at French ports, shipping data showed on Wednesday, in a sign of unusual imports of wheat into France following a poor harvest. The bulk carrier AS Elenia is transporting 33,500 tonnes of wheat that was loaded at the Bulgarian Black Sea port of Varna, the data showed. France, the European Union's biggest ...