01202017Fri
Last update: Fri, 20 Jan 2017 06am

Europe

Markets - Commodities - Europe

Copper slips to 4-week low as inventories swell LONDON: Copper fell to a four-week low on Monday as inventories of the metal posted their biggest one-day rise in 15 years as demand quietened into year-end, while lead and zinc slid on bets their earlier gains had become overstretched. Copper inventories in warehouses registered with the London Metal Exchange (LME) rose 38,400 tonnes on Friday, exchange data showed, their biggest daily increase since July 2001. That took them to their highest in around two months.Stocks have surged 62 percent from their early December low.Three-month copper on the LME was down 1.2 percent at $5,565 a tonne in official midday trading, off an earlier low of $5,561.50. Prices rose to a 17-month peak of $6,045.50 a tonne last month, but have since succumbed to selling."Profit-taking is the main trend here," Societe Generale analyst Robin Bhar said. "At the end of the year, physical markets are quieter than would normally be ...

Markets - Commodities - Europe

Gold up on dollar retreat, tighter US policy caps gains LONDON: Gold edged slightly higher as global equities and the dollar drifted lower on Monday, although expectations of tighter US monetary policy kept a lid on its gains.Spot gold edged up 0.4 percent to $1,138.85 an ounce by 1310 GMT. It fell to $1,122.35, its weakest since Feb. 2, on Thursday under pressure from a stronger dollar after hawkish rate forecasts from the Federal Reserve.US gold futures gained $3.20 to $1,140.70 an ounce.The Fed hiked ...

Markets - Commodities - Europe

Gold near Feb lows, heading for sixth weekly drop LONDON: Gold steadied on Friday but held near a 10-1/2 month low due to the higher dollar after the US Federal Reserve this week signalled rates could be raised three times next year -- one more than forecast at its September meeting.Spot gold was up 0.3 percent at $1,131.10 an ounce at 1444 GMT. The metal hit $1,122.35 on Thursday, its weakest since Feb. 2 and is down more than two percent so far this ...

Markets - Commodities - Europe

EU wheat mostly in good condition going into the winter HAMBURG: The wheat crop in the main European Union producers is generally in good condition going into the winter, experts said on Friday, raising optimism for an ample 2017 harvest for export and domestic consumers, experts said on Friday. "Poland is the main area of concern, at this stage the picture is better in the biggest producers after the mild winter start," one German trader said. In the largest EU wheat producer France, crops are ...

Markets - Commodities - Europe

Sugar prices resume downtrend, cocoa also lower LONDON: Raw sugar futures were lower on Friday with the market back on the defensive after a short-lived rebound while cocoa prices also eased and coffee edged higher. March raw sugar futures were off 0.26 cents or 1.4 percent, at 18.30 cents a lb at 1154 GMT. The front month hit a low of 17.84 cents on Thursday, its weakest since June 2, before rebounding to a peak of 18.69 cents. "We still have a ...

Markets - Commodities - Europe

Copper retreats on rising stocks, signs of soft demand LONDON: Copper prices fell on Friday, ending two days of gains, as rising stocks in London Metal Exchange warehouses and signs of softer demand from major consumer China pulled the metal further from last month's 17-month peak. A calmer tone to the wider financial markets, after a surprisingly hawkish statement on interest rate policy from the US Federal Reserve sent the dollar to 14-year highs on Thursday, did little to support the metal. Benchmark LME ...

Markets - Commodities - Europe

Gold slides to 10-month low on post-Fed dollar surge LONDON: Gold hit its lowest since early February on Thursday after the Federal Reserve sounded an unexpectedly hawkish note on US interest rates, sparking a surge in Treasury yields and sending the dollar to a 14-year high.Lifting the federal funds rate to a 0.50-0.75 percent range on Wednesday, the US central bank flagged a faster pace of hikes next year as it geared up for the incoming Trump administration's pledges to cut taxes and boost ...