01222017Sun
Last update: Sun, 22 Jan 2017 07pm

Europe

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 week, leaving it on track for its sixth consecutive weekly loss.US gold futures climbed 0.3 percent to $1,133.5 an ounce."The rate hike this week from the Fed and the hawkish outlook for next year leave a fairly negative picture for gold," ING commodity strategist Warren Patterson said.The dollar held near 14-year highs against the euro and a broader basket of currencies as markets repositioned for a more hawkish US central bank.Higher interest rates next year ...

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 ...

Markets - Commodities - Europe

Cocoa futures fall back on strong dollar, port arrivals LONDON: New York cocoa futures fell back on Thursday after three days of gains, following the US Federal Reserve's increase in interest rates which strengthened the dollar, making commodities denominated in the currency relatively more expensive. May New York cocoa was down $52, or 2.25 percent, at $2,259 a tonne at 1500 GMT. London cocoa futures followed suit with a less dramatic slide, as this week's rally ran out of steam. Dealers said a recent ...

Markets - Commodities - Europe

EU 2016/17 wheat exports reach 11.1mn T, 135,000 T this week PARIS: European Union soft wheat exports in the 2016/17 season had reached 11.13 million tonnes by Dec. 13, up 1 percent from 11.02 million exported by the same period last season, official data showed on Thursday. In the latest reporting week, the EU exported 135,000 tonnes of soft wheat, on the basis of a revised week-earlier total of 11.00 million tonnes, the data showed. The EU changed last month its reporting system for grain exports ...