07302016Sat
Last update: Sat, 30 Jul 2016 08pm

Europe

Markets - Commodities - Europe

Sugar dips; coffee firms on dry weather in Asia, Brazil LONDON: Raw sugar futures on ICE eased on Tuesday from a 1-1/2-year peak touched last week, while robusta coffee touched a nine-month high supported by concerns over the impact of dry weather in Brazil, Vietnam and Indonesia.New York cocoa steadied near a one-month low, pressured by weak chart signals.Raw sugar futures eased on speculative selling, although prices remained in sight of Thursday's 1-1/2-year high."There's a bit of profit taking. Funds have had a clear run-up," a senior trader said."The funds are sitting on good profits at these positions."Traders said they expected the next Brazilian cane crush data for the first half of May to show some interruptions due to rain.Brazil's centre-south sugar mills crushed 36.07 million tonnes of cane in the second half of April. Traders said the data, which showed a brisk crush, was broadly in line with expectations.July raw sugar traded down 0.14 cent, or 0.8 percent, at ...

Markets - Commodities - Europe

Gold down as stock market recovery curbs investor interest LONDON: Gold edged lower on Tuesday, partly in response to gains in stock markets around the world which reduced the appeal of the precious metal often perceived as a refuge from riskier assets.Spot gold fell 0.1 percent to $1,271.70 per ounce by 1142 GMT, while US gold futures were unchanged at $1,273.70."There is a little profit taking in gold because the shares market is higher," Societe Generale analyst Robin Bhar said."We may have a final ...

Markets - Commodities - Europe

Copper slips on renewed China worries; firmer oil limits losses LONDON: Copper slipped on Tuesday towards the recent lows brought about by a resurfacing of worries over demand growth in top consumer China, though losses were capped by a softer dollar and stronger oil and equities.Oil prices touched a six-month high just below $50 a barrel while European equities posted two-week peaks after Monday's rally on Wall Street.The U.S. currency has slipped in recent days, making dollar-denominated commodities cheaper for non-U.S. buyers.Benchmark copper on the ...

Markets - Commodities - Europe

EU wheat prices fall as excess supplies weigh LONDON: European wheat prices fell on Monday, tracking weakness in Chicago futures, with both markets weighed down by abundant global supplies after a record harvest in the 2015/16 season. Dealers said there is a strong flow of exports from the European Union but concern persists that it may be insufficient to prevent a significant build up in stocks. "The French, the Germans, the Poles, the Romanians, they need to export a lot more," one European ...

Markets - Commodities - Europe

Robusta drawdowns slow as European roasters lock in cheap freight LONDON: Drawdowns of robusta coffee from ICE approved warehouses have slowed because cheap freight costs are prompting European roasters to seek relatively inexpensive supplies of fresh beans directly from top grower Vietnam. Exchange warehouses are the cheapest source of robusta as discounts are applied to stocks that have been held for a while, traders said. But a fall in freight rates due to a surplus of available shipping has enabled European roasters to bring in ...

Markets - Commodities - Europe

Sugar pares losses after Brazil crush data; arabica steadies LONDON: Raw sugar on ICE trimmed losses on Monday after Brazilian cane crush data that was broadly in line with expectations, while arabica coffee and cocoa were little changed.Robusta coffee edged to its highest in eight months, underpinned by dry weather in growing regions of southeast Asia.In sugar, brokers cited early selling after data on Friday showed that speculators raised their record net long position in raw sugar contracts on ICE in the week to ...

Markets - Commodities - Europe

Copper bounces from lows, bolstered by softer dollar LONDON: Copper rebounded on Monday, bolstered by a softer dollar and short-covering, but the upside was capped as data from China's manufacturing sector dampened hopes of stronger demand growth in the top consumer.Benchmark copper on the London Metal Exchange had gained 0.9 percent to $4,670 a tonne at 1426 GMT, bouncing from losses last week that took it down to $4,594, its lowest since February 25.One trader said that some bearish investors bought back short ...