05012016Sun
Last update: Sun, 01 May 2016 01pm

Europe

Markets - Commodities - Europe

Gold boosted by dollar and equities after oil freeze fails LONDON: Gold rose on Monday as the dollar fell and European shares dipped following the failure by oil producers to agree an output freeze, which sent crude prices tumbling.Brent crude futures dropped as much as 7 percent as an output freeze deal by OPEC and non-OPEC producers fell apart on Sunday when Saudi Arabia demanded Iran join despite calls on Riyadh to save the agreement and prop up crude prices.Spot gold rose 0.4 percent to $1,237.68 by 1132 GMT, rebounding after a 0.5 percent loss last week."Oil prices have fallen between four and five percent, dragging equities down, and you would think to see some safe-haven buying in gold," Citi strategist David Wilson said.Wilson said gold prices should trade sideways in the second quarter as the negative impact of rising interest rates could be offset by easing worries about China's growth.Gold prices have steadied after posting their biggest quarterly rise ...

Markets - Commodities - Europe

Sugar and arabica gain, focus on Brazilian politics and currency LONDON: Raw sugar and arabica coffee futures on ICE rose on Monday, with attention focused on the impeachment process in Brazil and the real currency, while cocoa was little changed in light volumes.Raw sugar edged higher after Friday's 7 percent rally, fuelled by news on impeachment proceedings against Brazil's President Dilma Rousseff, upside risks for the real and upwardly revised global sugar deficit expectations.Brazil's financial markets were expected to react with euphoria on Monday after ...

Markets - Commodities - Europe

Copper takes its cue from slide in oil and equities LONDON: Copper prices slipped on Monday alongside crude oil and global equities, though losses were limited by a weaker dollar and supply concerns after floods in Chile.Benchmark copper on the London Metal Exchange traded down 0.6 percent at $4,778 a tonne in official rings.Lack of an agreement to freeze oil output after a meeting of major crude exporters in Qatar at the weekend hit oil prices and undermined investor confidence in equity markets."It's not too ...

Markets - Commodities - Europe

Sugar rebounds as supplies tighten, coffee, cocoa also up LONDON: Raw sugar futures on ICE rose on Thursday, boosted by the prospect of tightening supplies, while coffee and cocoa prices also advanced.May raw sugar futures were up 1.1 percent at 14.16 cents a lb at 1512 GMT. The contract had dipped to a low of 14.00 cents on Wednesday, the weakest level for the front month since Feb. 29.Czarnikow on Thursday revised up its 2015/16 global sugar deficit forecast to 11.4 million tonnes from ...

Markets - Commodities - Europe

Soybeans fall from 8-month top as rain seen easing in Argentina PARIS/SINGAPORE: US soybean futures fell from an eight-month high on Thursday as forecasts of easing rainfall in Argentina, which had delayed harvest, prompted some traders to book their profit.Corn edged lower after rallying almost five percent in the past two sessions while, wheat fell after a two-day rise.Chicago Board of Trade's (CBOT) most-active May soybean contract fell 0.7 percent to $9.49 by 1012 GMT after hitting $9.59-1/2 a bushel, the highest since Aug. 12, 2015. ...

Markets - Commodities - Europe

Gold prices retreat as dollar extends gains LONDON: Gold eased on Thursday as the dollar extended its biggest one-day rally in over a month, though losses were limited by uncertainty over the outlook for U.S. monetary policy this year.The precious metal has eroded all its early gains for the week after touching a three-week high at $1,262.60 an ounce on Tuesday, under pressure from a rebound in the U.S. currency.Spot gold was down 0.3 percent at $1,239.90 an ounce at 1134 GMT, ...

Markets - Commodities - Europe

Sugar rebounds as supplies tighten, coffee also edges up LONDON: Raw sugar futures on ICE rose on Thursday, boosted by the prospect of tightening supplies, while coffee prices also edged up and cocoa was mixed as a weak pound helped to support the London market.May raw sugar futures rose 2.1 percent to 14.31 cents a lb by 1251 GMT. The contract had dipped to a low of 14.00 cents on Wednesday, a low for the front month since Feb. 29.Czarnikow on Thursday revised up ...