01202017Fri
Last update: Fri, 20 Jan 2017 09pm

Europe

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 in power and construction earlier hit $5,450.50 a tonne, its lowest in more than a week, as funds took profits on long positions betting on higher prices. The dollar edged down against a basket of currencies on Wednesday, making dollar-denominated assets such as copper cheaper for holders of other currencies. Beijing on Wednesday announced plans to spend 800 billion yuan ($115.1 billion) to build extra track and electrify 4,000 km of railroad.Citi analyst David Wilson ...

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 ...

Markets - Commodities - Europe

NY cocoa falls to 3-1/2 year low on oversupply concerns LONDON: New York cocoa futures fell to the lowest level in more than 3-1/2 years on Friday as fast-paced production in top grower Ivory Coast heightened concerns about excess supplies in the 2016/17 season. Dealers said the flow of cocoa to ports in Ivory Coast was running well ahead of last year and a global surplus is now widely forecast for this season season. There had been a global deficit in 2015/16. "We are seeing ...

Markets - Commodities - Europe

Gold rises as the dollar and US bond yields decline LONDON: Gold prices rose to their highest in two weeks on Thursday as the dollar and US bond yields declined following weaker than expected economic data.Spot gold hit $1,150.26 an ounce, its highest since Dec. 14., and was up 0.4 percent at $1,146.16 by 1122 GMT.US gold futures rose $6.30 to $1,147.10 an ounce."Gold is not out of the woods yet but yields are a bit lower and the dollar is weaker, especially against the ...