04292016Fri
Last update: Fri, 29 Apr 2016 04am

Europe

Markets - Commodities - Europe

Copper, aluminium hover near highs, but capped by caution LONDON: Copper and aluminium held steady on Friday, near their highs touched in the previous session, but many analysts were wary that prices were stretched and could be due a correction lower as demand was still patchy. Aluminium touched its highest seven months on Thursday and copper hit a four-week peak, partly on optimism about an economic rebound in top metals consumer China. But many analysts have warned that underlying supply-demand fundamentals do not justify the extent of the price gains. "The price increases are exaggerated, so I would expect to see setbacks or corrections in the short term because much of the price rises were driven by greater risk-on sentiment and by speculators," said analyst Daniel Briesemann at Commerzbank in Frankfurt. Three month aluminium was up 0.5 percent at $1,643 a tonne by 1045 GMT, not far from Thursday's peak of $1,646.50, the strongest since September. The extent of ...

Markets - Commodities - Europe

Raw sugar, arabica dip as dollar weighs LONDON: Raw sugar futures on ICE eased on Friday, with attention shifting to next week's expiry of the May contract, while arabica coffee was pressured by a firmer US dollar.London cocoa futures hit a fresh four-month high, supported by concerns that top grower Ivory Coast may harvest a small, poor quality mid-crop this season. New York prices traded just shy of a five-week peak. In sugar, dealers noted a strong whites refining premium, signalling strong ...

Markets - Commodities - Europe

Copper hits four-week high as China optimism gains momentum LONDON: Copper rose to a four-week high on Thursday, boosted by rising expectations of improving demand growth from China after a string of stronger economic data from the top consumer.Benchmark copper on the London Metal Exchange finished with a 0.4 percent gain at $5,000 a tonne, having peaked earlier at $5,065 and dipped to a low of $4,930 after funds cut bets on higher commodity prices after New York opened.However, prices of the metal used ...

Markets - Commodities - Europe

Swiss gold exports to India slide, shipments to UK jump LONDON: Swiss gold exports to India in March fell to their lowest since December 2014, Swiss customs data showed on Thursday, while shipments to China dropped by a third and sales to Hong Kong hit a 19-month low.The United Kingdom took over as the largest single destination for Swiss gold exports as shipments surged to 44.2 tonnes, more than seven times the previous month's figure and the most for any month since September 2012.Swiss exports ...

Markets - Commodities - Europe

Silver hits 11-month high, gold rises more than 1pc LONDON: Silver hit an 11-month high on Thursday as the dollar retreated, boosted by perceptions the metal had become undervalued versus gold and by technical momentum, while gold rallied more than 1 percent ahead of a European Central Bank meeting.Silver is up more than 7 percent this week, and on track for its biggest weekly rise since January 2015 after a break of key chart resistance last week sparked a wave of buying.It reached its ...

Markets - Commodities - Europe

London cocoa hits one-month high on Ivorian crop concerns LONDON: London cocoa futures rose to a one-month high on Thursday supported by concerns that Ivory Coast may harvest a small, poor quality mid-crop this season and by chart-based buying following the market's recent steady advance.Coffee futures also advanced while raw sugar fell back to little changed levels after earlier matching the prior session's 3-week high.July London cocoa was up 4 pounds or 0.2 percent at 2,249 pounds a tonne at 1114 GMT after rising ...

Markets - Commodities - Europe

Copper hits one-month high as China optimism gains momentum LONDON: Copper rose to a four-week high on Thursday, boosted by rising expectations of improving demand growth from China after a string of stronger economic data from the top consumer.Benchmark copper on the London Metal Exchange traded up 0.7 percent at $5,015 a tonne in official rings, compared with a session high of $5,050. It has gained more than 8 percent since the start of last week.Higher than expected Chinese industrial production and investment data ...