02132016Sat
Last update: Sat, 13 Feb 2016 05pm

Europe

Markets - Commodities - Europe

Copper slides after hitting 4-week high on short-covering LONDON: Copper hit a four-week high on Tuesday as bets on lower prices were reversed ahead of a Chinese holiday, but prices fell later in the day as focus returned to oversupply and weak demand growth in top consumer China.Benchmark copper on the London Metal Exchange ended down 0.3 percent to $4,548 a tonne. The metal used in power and construction earlier touched $4,628 a tonne, its highest since January 7.Traders and funds covering short positions ahead of the week-long Chinese Lunar New Year holiday starting on Monday were said to be behind the earlier price surge."The overall picture for copper is bearish," said Barclays' commodities analyst Dane Davis."The Chinese holiday means the entire country shuts down. I would caution against interpreting price swings in February as we really don't know what's going on with the fundamentals."Copper demand growth slowed to around 2 percent last year in China, which accounted ...

Markets - Commodities - Europe

EU wheat at new lows as Egypt darkens export outlook PARIS: Euronext wheat futures hit new contract lows as the cancelling of a tender by Egypt hardened a standoff over import rules, adding uncertainty to a market needing to clear large stocks.The aborted tender in Egypt also raised the prospect that exporters would have to bid aggressively to secure business in a tender being held by Algeria, the largest buyer of French wheat.On the Paris-based Euronext futures market, March milling wheat settled 1 euro, or ...

Markets - Commodities - Europe

Oil slides more than 5 percent as hopes for output cut fade LONDON: Brent oil fell more than 5 percent on Tuesday, while US crude slid below $30 per barrel, hit by worries about the demand outlook and rising supply, while hopes for a deal between OPEC and Russia on output cuts faded. Brent for April delivery was down $1.82 at $32.42 a barrel by 1439 GMT, after settling down $1.75, or 4.9 percent, in the previous session.The front-month contract for US West Texas Intermediate (WTI) was ...

Markets - Commodities - Europe

Cocoa prices resume slide, sugar hits 4-month low LONDON: Cocoa futures fell sharply on Tuesday, switching back onto the defensive after the prior session's short-covering rally while raw sugar futures dipped to a new four-month low. Dealers noted New York cocoa had its biggest jump in 3-1/2 years on Monday but the market's declining trend remained. "Yesterday was an exceptional move but at the moment it hasn't convinced many people that the worm has turned," one London cocoa dealer said. March New York ...

Markets - Commodities - Europe

Copper slides, spooked by weak China manufacturing data LONDON: Copper slipped on Monday alongside Chinese equities on news the country's manufacturing sector shrank at the fastest in more than three years, reinforcing fears of weaker demand in the top consumer of industrial metals.Benchmark copper on the London Metal Exchange ended down $4,560 a tonne from $4,561 at the close on Friday. The metal used in power and construction earlier touched a session low of $4,496.50.China's official Purchasing Managers' Index (PMI) fell to 49.4 ...

Markets - Commodities - Europe

London copper falls as China factory activity shrinks MELBOURNE: London copper slipped on Monday after China's manufacturing growth shrank at the fastest pace in more than three years in January, underlining slowing appetite from the world's top metals consumer. Activity in China's manufacturing sector contracted at its fastest pace in almost three-and-a-half years, missing market expectations, an official survey showed.The gauge underscored worries that China's commodity demand is waning, which has undermined prices sector-wide. However, China's copper imports have stayed strong and dips ...

Markets - Commodities - Europe

Robusta dips as Vietnam pre-Tet sales wind down, sugar falls LONDON: Robusta coffee on ICE eased on Thursday, nearing multi-year lows, as producer selling wound up before Vietnam's Tet holiday, while raw sugar hit a 3-1/2-month low, pressured by expectations of a big centre-south Brazil 2016/17 harvest.Cocoa fell to multi-month lows, weighed down by abundant nearby supplies.Robusta coffee futures eased on investor and producer selling, with physical business ahead of the Tet holiday next month in top producer Vietnam wrapping up."After Tet there will be ...