07242016Sun
Last update: Sun, 24 Jul 2016 07am

Europe

Markets - Commodities - Europe

Gold falls to two-week low after BoE holds rates steady LONDON: Gold fell 1.5 percent on Thursday as global equities stayed in positive territory after the Bank of England (BoE) surprised investors by leaving interest rates unchanged.The BoE said it was likely to deliver stimulus to the economy in three weeks, once it assessed how Britain's vote to leave the European Union has affected the economy.Spot gold fell as much as 1.5 percent to $1,321.79 an ounce, the lowest since July 1, and was down 1.3 percent at $1,325.36 by 1158 GMT."Britain has got a new prime minister, which, alongside expectations of more stimulus from the Bank of England, has brought a sense of relief to markets, so gold is easing and everything else is rising on that," Citi strategist David Wilson said."But the whole process of Brexit negotiations, which hasn't started yet, implies financial risks that will be supportive for the metal in the medium term."Gold touched a two-year ...

Markets - Commodities - Europe

Coal prices bounce back this year, but not for good LONDON: A rally in thermal coal prices over the past few months, after years of decline, should continue into next year but a cloud still hangs over the market in the form of weakening global demand due to more clean energy and increased energy efficiency. All major benchmarks for thermal coal have risen above $60 a tonne in the past few weeks, an increase of around 50 percent since record lows earlier this year, due ...

Markets - Commodities - Europe

Russia first beet test shows weight up MOSCOW: Russia's sugar beet test, the first since the start of the year, showed average root weight at 125 grams compared with 117 grams in July last year, the Russian Sugar Producers Union industry lobby said on Thursday. The number of beets per hectare rose to 97,000 from 92,000 a year ago, it added. The sugar content had not been tested so far.Copyright Reuters, 2016 ...

Markets - Commodities - Europe

London copper, nickel rise on growing stimulus expectations MELBOURNE: London copper edged up and nickel rose on Thursday, adding to rallies in the previous session on expectations of new stimulus measures in major economies including the UK and China.The Bank of England is set to cut interest rates for the first time in more than seven years as it tries to cushion the economy from the shock decision by voters to pull Britain out of the European Union.Meanwhile, weaker overall trade data from ...

Markets - Commodities - Europe

Cocoa prices rise on tightening supplies, sugar rebounds LONDON: Cocoa futures rose on Wednesday, underpinned by tightening supplies following a poor mid-crop in top grower Ivory Coast and the prospect of a slow start to the main crop later this year.Dealers noted the London cocoa market's structure reflected the tightening supply outlook, with nearby contracts trading at substantial premiums to further-forward positions."The ongoing dry weather and potential slow start to the new crop is reflected in the strong spreads, especially what is going ...

Markets - Commodities - Europe

Gold recovers on monetary stimulus expectations LONDON: Gold rose on Wednesday, recovering from its lowest in nearly two weeks, as prospects for further economic stimulus helped to bolster investor appetite whil the dollar remained flat.Accommodative monetary policies favour gold as well as equities because low interest rates encourage investors to opt for assets that do not rely on interest yields.Spot gold was up 0.7 percent at $1,340.90 an ounce by 1417 GMT, having earlier touched $1,327.30, its lowest since July 1. ...

Markets - Commodities - Europe

Soybeans up again on worry hot weather may hurt US crop HAMBURG/SINGAPORE: Chicago soybeans rose again on Wednesday following a sharp jump on Tuesday as forecasts of hot and dry weather across the US Midwest raised fears of damage to crops.Corn was also firm after the weather rally on Tuesday, and supported too by a US Department of Agriculture (USDA) report forecasting tighter corn supplies.The Chicago Board of Trade's most-active November soybean contract rose 0.8 percent to $10.95-3/4 a bushel at 0955 GMT, after rallying some ...