02062016Sat
Last update: Sat, 06 Feb 2016 08pm

Europe

Markets - Commodities - Europe

NY sugar may drop to 14.21 cents SINGAPORE: New York March sugar may drop to 14.21 cents per lb, as indicated by its wave pattern and a Fibonacci retracement analysis.The contract could be riding on a wave a, the fifth wave of a double-zigzag from the Dec. 4, 2015 high of 15.85 cents. This wave could eventually travel to 13.60 cents, which is pointed by the lower trendline of a falling channel.A more realistic target could be 14.21 cents, the 14.6 percent Fibonacci retracement on the fall from Dec. 4, 2015 high of 15.85 cents to 13.93 cents. Resistance is at 14.66 cents, the 38.2 percent level, only a break above which could confirm the extension of the bounce from the Jan. 21 low of 14.11 cents, towards the range of 14.89-15.12 cents, formed by the 50 percent and the 61.8 percent retracements.Copyright Reuters, 2016 ...

Markets - Commodities - Europe

Russia's MMK says Q4 crude steel output down 8pc MOSCOW: Russian steelmaker MMK said on Monday its crude steel output fell to 2.9 million tonnes in the last three months of 2015, down 8 percent quarter-on-quarter.Total output in 2015 fell 6 percent year-on-year to 12.2 million tonnes, the company said in a statement.MMK said it saw weaker demand in January lasting until the second half of the first quarter and domestic prices increasing in February and March due the devaluation of the rouble.Copyright Reuters, ...

Markets - Commodities - Europe

European vegoils-Palm oil mixed on contrasting leads ROTTERDAM: Palm oil on the European vegetable oils market was offered mixed on Thursday with support from a rally in energy markets and a stronger ringgit while worries over exports and lower Malaysian palm oil futures weighed. "The jump in mineral oil supported most vegetable oils, as it could trigger demand from biodiesel producers. Buyers were still cautious as the fundamentals were still mostly bearish," one broker said. Palm oil was mostly offered between $2.50 ...

Markets - Commodities - Europe

Copper jumps as ECB's Draghi hints at easing LONDON: Copper and other base metals rebounded on Thursday after the head of the European Central Bank raised hopes of more monetary stimulus, prompting investors to buy back bearish positions.Oil prices and global stocks bounced after ECB President Mario Draghi hinted at additional stimulus measures as early as March as economic risks had grown."Some of the late shorts were getting cold feet and others were taking profits. I think this rally could extend," said a ...

Markets - Commodities - Europe

Gold retreats as equities recover some ground after rout LONDON: Gold edged lower on Thursday after posting its biggest one-day gain in two weeks in the previous session, as a tentative rebound in European equities dampened some risk aversion.European shares rose 0.8 percent, shrugging off a weak session in Asia overnight, though remained near multi-year lows after a volatile two days that has wiped trillions of dollars off global markets.Also feeding into better sentiment, oil prices, which fell to their weakest since 2003 this ...

Markets - Commodities - Europe

Robusta coffee hits 5-1/2 year low, cocoa, sugar also fall LONDON: Robusta coffee futures slumped to a 5-1/2 year low on Wednesday with the market weighed down by a strong flow of supplies from top producer Vietnam and overall weakness in commodity markets.Cocoa and sugar futures also fell sharply as a further slide in crude oil and concerns about slower economic growth in China helped to drive down commodity prices.Dealers said Vietnamese farmers had a lot of coffee to sell following the completion of the ...

Markets - Commodities - Europe

Gold benefits from equities' retreat, lower dollar LONDON: Gold rose on Wednesday, benefiting from a weaker dollar and ailing European shares, which slid to their lowest since October 2014 as oil prices continued their relentless slump.However, slow physical demand from Asia kept the metal well under this month's peak, traders said.Spot gold rose 0.7 percent to $1,093.90 an ounce by 1043 GMT, while U.S. gold for February delivery gained 0.5 percent to $1,094.30 an ounce.Risk appetite soured as fresh 12-year lows in ...