06262016Sun
Last update: Sun, 26 Jun 2016 02am

Europe

Markets - Commodities - Europe

EU wheat consolidates as harvest, exports eyed PARIS: Euronext wheat futures edged higher on Friday, supported by a broad upturn in financial markets, as the market consolidated after falling this week and traders awaited further clues about harvest and export prospects for the upcoming season.September milling wheat on the Paris-based Euronext exchange was up 0.25 euro or 0.2 percent at 162.75 euros a tonne at 1453 GMT. The contract had touched a three-week low of 161.75 euros on Thursday before recovering.The European market again tracked the trend in Chicago, where a weaker dollar and a broad recovery in commodity markets helped offset recent pressure from an advancing US harvest. "We're seeing a consolidation trend after the sharp fall yesterday," one futures dealer said. "We're reacting more to what's going on in financial markets and it could be like that until we know the outcome of the Brexit vote." Oil and share prices rose as market jitters eased ...

Markets - Commodities - Europe

Sugar, coffee rise on concerns over Brazil rainfall LONDON: Raw sugar and arabica coffee on ICE firmed on Friday, supported by worries about rainfall in Brazil, while cocoa prices were buoyed by concerns over the outlook for the main harvest in top grower Ivory Coast.Raw sugar futures were within sight of Thursday's 2-1/2-year peak, supported by a shift of the global market into deficit after several years of surpluses.Expectations that more cane crushing days could be lost in centre-south Brazil in June than ...

Markets - Commodities - Europe

Russia's Polyus plans 5pc stake sale in Moscow ST PETERSBURG: Russia's largest gold producer Polyus plans to sell 5 percent of its existing shares in Moscow when market conditions are right, Chief Executive Pavel Grachev told Reuters on Friday. Polyus, controlled by the family of Russian tycoon Suleiman Kerimov, needs to raise its free float to at least 10 percent from the current 5 percent to meet Moscow Stock Exchange requirements after an upgrade of its listing. "We are intending for a public ...

Markets - Commodities - Europe

Copper rebounds as Brexit fears subside, zinc drops LONDON: Copper prices recovered on Friday after worries diminished about Britain leaving the European Union and the dollar eased, but a surge in inventories weighed on zinc.Three-month copper on the London Metal Exchange had gained 0.6 percent to $4,564 a tonne by 1020 GMT, recovering some of the previous session's losses of more than 2 percent. Prices were on track for a 1.4 percent weekly gain, but not far from four-month lows hit last week ...

Markets - Commodities - Europe

Euronext says wheat silos to keep higher quality standards PARIS: The French grain silos that take delivery of wheat traded on the Paris-based Euronext futures market will maintain extra quality requirements next season, the exchange said on Friday, as traders worry that torrential rain will damage crop quality. Storms and heavy rain since late May have lashed French wheat crops and raised the risk that more of the harvest than usual will end up as lower-grade livestock feed wheat. Euronext's quality specifications and a ...

Markets - Commodities - Europe

Gold eyes third weekly gain as Brexit uncertainty helps LONDON: Gold rose on Friday, supported by a softer dollar, and was heading for a third week of gains following a cautious note from the Federal Reserve on rates and uncertainty ahead of Britain's vote on European Union membership.The metal, often seen as an insurance in times of financial and economic uncertainty, peaked at $1,315.55 on Thursday, its strongest since August 2014.Gold then slid 1 percent as financial markets reacted to the suspension of campaigning ...

Markets - Commodities - Europe

Indonesian coffee trade to focus on niche markets as exports slow JAKARTA/LONDON: Indonesia's robusta coffee shipments are expected to remain slow in coming weeks due to fierce competition from Vietnamese supplies, prompting traders to focus on domestic and niche markets such as Egypt. Indonesia is the world's No. 3 robusta producer after Vietnam and Brazil. The Indonesian robusta harvest started around a month late, delayed by dry weather, and farmers have focused mainly on domestic sales in time for the Muslim fasting month of Ramadan now ...