07012016Fri
Last update: Fri, 01 Jul 2016 09am

Europe

Markets - Commodities - Europe

Copper slides, market waiting for China reinforcements LONDON: Copper prices slipped on Thursday as the market waited for confirmation of stronger demand in top consumer China, while a lower dollar helped to limit losses.Benchmark copper on the London Metal Exchange traded down 0.2 percent to $4,894 in official rings.It fell to a one-week low $4,873 on Wednesday. The sell-off this week was sparked partly by negative sentiment after Chinese exchanges moved to clamp down on speculation and curb volatility in iron ore and coal with measures such as higher transaction fees and margin requirements. Copper rose to $5,091 a tonne last week, it highest in more than four weeks, on optimism about Chinese consumption after a slew of above consensus data on new loans, industrial production, investment and housing. "Markets are waiting to see if there is a basis for the recent rally," said Danske Bank analyst Jens Pederson."The last part of the rally we saw in ...

Markets - Commodities - Europe

Sugar hits lows after record Brazil cane crush LONDON: Raw sugar on ICE hit session lows on Wednesday after Brazilian cane data showed a record crush at the high end of expectations for the first half of April.London cocoa dipped after touching its highest level in 4-1/2 months, and arabica coffee futures also fell.Brazil's main centre-south cane belt produced a record amount of sugar and ethanol in an early start to the harvest season, industry association Unica said.Unica reported that 32.84 million tonnes ...

Markets - Commodities - Europe

Copper hits lowest in a week on China speculator crackdown LONDON: Copper dipped to the lowest in a week on the third straight day of losses as a crackdown on speculators in China dampened sentiment, but metals markets were supported by a weaker dollar and strong oil prices.Iron ore and steel futures in China led a retreat as the authorities raised trading costs to deter speculative investors believed to be behind last week's big spike in prices and volumes that had raised fears of a ...

Markets - Commodities - Europe

Soybean prices fall as Argentina crop concerns ease LONDON: US soybean futures were lower on Wednesday as drier weather in Argentina helped to curb crop concerns following heavy flooding and corn prices also eased slightly.The Chicago Board of Trade most-active July soybean contract was off 0.3 percent to $10.23-3/4 a bushel at 1033 GMT."Soybeans have had such an incredible run-up and it looked like bit of an over reaction, given the outlook on supplies," said Phin Ziebell, agribusiness economist at National Australia Bank ...

Markets - Commodities - Europe

Gold rises as dollar weakens ahead of Fed policy outcome LONDON: Gold rose for a third straight session on Wednesday as weaker than expected U.S. data weighed on the dollar ahead of the Federal Reserve's monetary policy decision later in the day.The Fed is likely to keep interest rates steady, with the focus resting squarely on the tone of its statement and any hints on the timing of any future increases. The U.S. central bank raised rates in December for the first time in nearly ...

Markets - Commodities - Europe

Sugar eases ahead of cane data, cocoa off 4-1/2 month high LONDON: Raw sugar on ICE eased on Wednesday as traders awaited Brazilian cane data expected to show a rapid crush in the first half of April, while London cocoa dipped after touching its highest level in 4-1/2 months.Coffee edged up, supported by a soft dollar. A weaker dollar makes dollar-based commodities cheaper in other currencies.Several traders expected the cane crush data from Unica, an industry group, expected at 1400 GMT, to show a record crush ...

Markets - Commodities - Europe

Copper slides as worries about China demand resurface LONDON: Copper prices fell on Tuesday in a sell-off fuelled by worries that expectations of stronger demand in top consumer China were overly optimistic, though a weaker dollar helped support prices. Benchmark copper on the London Metal Exchange closed down 0.7 percent at $4,962 a tonne. "Going back to January everybody was extremely bearish about China and they are way too optimistic now," Oxford Economics analyst Dan Smith said. "We're going to see a significant ...