01192017Thu
Last update: Thu, 19 Jan 2017 05am

Europe

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 there was a report it had spread to Daloa," one London dealer said. Speculators are holding large net short positions in both New York and London cocoa, lured by a prolonged decline in prices and the prospect of a global surplus in the current 2016/17 season. "You have got a lot of money in cocoa which doesn't trade it too often and seeing those sort of headlines, they are not going to mess about and ...

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 ...

Markets - Commodities - Europe

Gold set to snap three-year losing streak with 9 percent gain LONDON: Gold hit a two-week high on Friday on a weaker dollar and was set to close 2016 more than 9 percent higher, snapping three years of declines.Spot gold was up 0.1 percent at $1,158.86 an ounce by 1159 GMT, having hit its highest since Dec. 14 at $1,163.14.US gold futures rose $2.60 to $1,160.70 an ounce.In the first half of 2016, investors increased gold exposure as the Federal Reserve showed caution on raising interest ...

Markets - Commodities - Europe

Wheat set for 13 pct drop in 2016 as record supply weighs PARIS/SYDNEY: US wheat futures were little changed on Friday in light year-end trading, leaving the cereal market poised for an annual decline of more than 13 percent against a backdrop of record global supplies.Corn was set to finish the year down nearly 3 percent after the biggest-ever US harvest maintained hefty supply volumes. Both corn and wheat are heading for their fourth straight annual decline.Soybeans, however, will break a downward trend over the previous three ...