09272016Tue
Last update: Tue, 27 Sep 2016 06pm

Europe

Markets - Commodities - Europe

Gold hits 2-month low ahead of US jobs data LONDON: Gold dropped to its lowest in over two months on Thursday, as European shares rose, while investors waited to see if US jobs data could put the Federal Reserve on track to hike interest rates.Spot gold touched its lowest since June 24 at $1,303.95 an ounce earlier and was down 0.2 percent at $1,306.21 by 1001 GMT. US gold futures fell $2.70 to $1,308.60."Having heard the Fed last week saying that the US economy is doing well, an interest rate hike is back on the table and that is driving prices down, especially with the market expecting a good jobs data number tomorrow," Natixis analyst Bernard Dahdah said."We expect a Fed interest rate hike in December."An upbeat payrolls report would reinforce the view that a US interest rate hike is now likely before the end of the year, after Fed Chair Janet Yellen said on Friday the case for ...

Markets - Commodities - Europe

Global coffee exports down 22pc in July: ICO LONDON: Global coffee exports fell 22 percent in July from the same month last year to total 7.75 million 60-kg bags, the International Coffee Organization (ICO) said on Thursday.For the first 10 months of the 2015/16 season, which began on Oct. 1 last year, coffee exports were down 1.7 percent at 93.28 million bags.Robusta coffee exports fell 26.2 percent in July from a year earlier to 2.96 million bags.Cumulative robusta exports for the season to ...

Markets - Commodities - Europe

Cocoa prices fall to four-week low, sugar also weaker LONDON: Cocoa futures fell to four-week lows on Wednesday on largely technically driven selling against the backdrop of an improving outlook for production in top grower Ivory Coast. "There is technical selling but also people mentioning the Ivorian crop is looking potentially better, with rains falling at the right times in the right places during the past few days," one dealer said. December London cocoa was off 9 pounds, or 0.4 percent, at 2,297 pounds ...

Markets - Commodities - Europe

European feeds-Soymeal down again on prospects of abundant supplies PARIS: Soymeal prices on the European animal feed market fell further on Wednesday, still pressured by a weaker US soybean complex, traders said Chicago Board of Trade soybeans slid for a seventh consecutive session on Wednesday to trade around last session's four-week low as the US crop enjoys almost ideal growing conditions. The US Department of Agriculture (USDA) on Monday rated 73 percent of the US soybean crop as good to excellent, up from the ...

Markets - Commodities - Europe

Copper ends August with 6pc monthly loss LONDON: Copper rose on Wednesday as investors covered short positions but it ended August with a 6 percent loss for the month after rising inventories in Asia signalled muted demand from top consumer China. Benchmark copper on the London Metal Exchange ended up 0.2 percent on the day at $4,617 a tonne helped by funds and traders squaring short positions. Rising inventories of copper in LME-approved warehouses, up more than 80,000 tonnes since the middle ...

Markets - Commodities - Europe

European vegoils-Palm oil flat on day, sharply up for month LONDON: Crude palm oil prices were largely flat on Wednesday in thin conditions due to a holiday in Malaysia, but posted strong gains for the month buoyed by increased export demand. Crude palm oil for September shipment was offered at $755 per tonne on Wednesday, down $5 from the previous day but still $110 up from the end of July. "Demand for crude palm oil from traditional buyers increased tremendously in August, due to restocking ...

Markets - Commodities - Europe

EU wheat prices slip on fears of Egyptian import disruption HAMBURG: European wheat prices edged lower on Wednesday in thin trade due to problems with Egypt's latest international wheat purchase tender suggesting there could be less import demand in the weeks ahead.Egypt's state grains buyer GASC received only one offer on Wednesday at its first wheat purchase since reinstating a zero-tolerance policy on ergot fungus, in a near complete boycott by wheat exporters that underscores the difficulty of sourcing grains under the rule."If wheat cannot ...