09252016Sun
Last update: Sun, 25 Sep 2016 10am

Europe

Markets - Commodities - Europe

Gold price steadies after rally on weak US data LONDON: Gold steadied near two-and-a-half-week highs on Wednesday, losing momentum due to profit taking following a rally in the previous session on US data that weakened the case for a US rate rise soon.US services sector activity slowed to a 6-1/2-year low in August amid sharp drops in production and orders, pointing to slowing economic growth that further diminished prospects for a near-term interest rate increase.The US non-manufacturing new orders index for August fell to its lowest since December 2013.Gold is highly exposed to interest rates and returns on other assets, as rising rates lift the opportunity cost of holding non-yielding bullion.Spot gold was down 0.2 percent at $1,367.93 per ounce by 1008 GMT. The metal touched a high of $1,352.65, its best since Aug. 19 and is up about 1.7 percent so far this week.US gold futures were barely changed at $1,354 per ounce."Today's movement is likely a little ...

Markets - Commodities - Europe

Soybeans up on strong US export demand; wheat and corn firm HAMBURG/SINGAPORE: Chicago soybeans rose on Wednesday on brisk global demand for US supplies that may cut the country's stockpiles, while concern about rain in US crop belts also underpinned."Soybeans are seeing support from strong US exports while at the same time the market assesses just how much of a record large size the US harvest will reach," said Stefan Vogel, head of agricultural commodity markets research at Rabobank."Yesterday's weaker trend in the dollar is today ...

Markets - Commodities - Europe

Gold steady as dollar dips, stocks weigh LONDON: Gold held steady on Monday, close to a one-week high touched in the previous session, as the dollar dipped on receding expectations of an imminent US interest rate rise but the yellow metal's gains were capped by stronger global stocks.Spot gold was up 0.1 percent at $1,326.33 an ounce by 1851 GMT. The precious metal hit a one-week high of $1,328.73 on Friday after data showed US employment growth slowed more than expected in ...

Markets - Commodities - Europe

Algeria launches new tender to purchase milling wheat HAMBURG: Algeria's state grains agency OAIC has issued a tender to buy optional-origin soft milling wheat, European traders said on Monday. The tender sought a nominal 50,000 tonnes but Algeria often buys considerably more in its tenders than the nominal volume sought. Tender deadline is Wednesday, Sept. 7, they said. The wheat was sought for shipment in the first half of October and/or the second half of October, they said. Algeria's traditional wheat supplier France ...

Markets - Commodities - Europe

Robusta coffee sets 18-month high, London cocoa dips LONDON: Robusta coffee futures rose to an 18-month high on Monday, boosted by tightening supplies, while a strong pound weighed on London cocoa prices. November robusta coffee was up $8, or 0.4 percent, at $1,873 per tonne at 1300 GMT. The benchmark second month had earlier peaked at $1,881, the highest since March 2015. Dealers said adverse weather had curbed robusta production in Brazil and Indonesia this year and a lower crop was also anticipated ...

Markets - Commodities - Europe

Coal leads surge in European energy exchange trading in first half 2016 FRANKFURT: Coal lead a surge in trading volumes on west European energy exchanges in the first half of this year as traders took advantage of low commodity prices, research company Prospex said on Monday. Wholesale trading of coal on the exchanges soared 46 percent from a year earlier to 3.5 billion tonnes, according to Prospex. "Low coal prices mean a fixed amount of trading capital will buy higher volumes than it did in the past," ...

Markets - Commodities - Europe

Gold up as dollar slips after weak US jobs data LONDON: Gold rose on Monday as the dollar slipped on receding expectations of an imminent US interest rate rise after lower than expected jobs numbers from the United States last week.Spot gold was up 0.2 percent at $1,326.10 an ounce by 1500 GMT. The precious metal hit a one-week high above $1,341 on Friday after data showed US employment growth slowed more than expected in August after two straight months of robust gains.US gold futures ...