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Last update: Sat, 03 Dec 2016 12am

Europe

Markets - Commodities - Europe

NY cocoa sets 3-year low on favourable crop outlook LONDON: New York cocoa futures fell to a 3-year low on Tuesday as favourable weather in West Africa boosted expectations there would be a global surplus in the 2016/17 season and encouraged funds to take more bearish positions. March New York cocoa was off $24, or 1.0 percent, at $2,394 a tonne at 1451 GMT after setting a low of $2,392, the weakest for the second contract since August 2013. Speculators have switched to a net short position in London cocoa and cut a net long in New York cocoa, according to data issued on Monday. "The crop outlook in the key growing countries, especially in West Africa, is so good that the surpluses expected for the current 2016-17 season are being upwardly adjusted," Commerzbank said in market note. Light rains mixed with sunny spells last week in most of Ivory Coast's cocoa growing regions strengthened the prospect for a ...

Markets - Commodities - Europe

Gold rebounds on Trump policy uncertainty LONDON: Gold edged higher on Tuesday, snapping a three-session losing streak, on uncertainty over the effects of policies promised by US President-elect Donald Trump and expectations of higher interest rates in December.Spot gold added 0.5 percent to $1,226.06 an ounce by 1008 GMT, having slipped on Monday to its lowest since June 3 at $1,211.08.US gold futures climbed 0.2 percent to $1,224.30.Trump has vowed to boost domestic spending, which has the potential to stoke inflation, ...

Markets - Commodities - Europe

Soybeans at new 3-week low on China slide, dollar rally PARIS/SINGAPORE: Chicago soybeans slid for a second session on Monday to a new three-week low, under pressure from a steep decline in Chinese prices and a rallying dollar.Wheat fell for a fourth consecutive session as the stronger dollar clouded export prospects while increased grain sowing in Russia reinforced an outlook for ample global supplies.Corn prices also dropped."Soybeans have seen a bit of pressure and I think some of the decline has got to do with ...

Markets - Commodities - Europe

Sugar, coffee prices ease as Brazil currency extends fall LONDON: Raw sugar and arabica coffee futures on ICE fell on Monday as weakness of Brazil's real currency encouraged selling by producers in the world's top grower of both commodities. "The Brazilian real's continued weakness is triggering forward sales by Brazilian (sugar) mills to take advantage of better real pricing," said Tobin Gorey, analyst at Commonwealth Bank of Australia. The Brazilian real fell for a fourth straight day on Monday as concern over US President-elect ...

Markets - Commodities - Europe

Copper rises as China boosts infrastructure spending LONDON: Copper rose on Monday, adding to last week's double-digit percentage gains after infrastructure spending in China, the world's top metals consumer, came in ahead of expectations. Fixed-asset investment quickened slightly in January-October as the Chinese government stepped up outlays to support growth, official data showed. Benchmark copper rose 1.5 percent to $5,630 a tonne in official trading rings after recording its best week since 2011 last week with an 11.2 percent gain, buoyed also ...

Markets - Commodities - Europe

Copper hammers above $6,000 on Trump, China LONDON: Base metal prices soared this week, with copper forging above $6,000 per tonne as Donald Trump's election victory sparked hopes of booming demand to meet the president-elect's pledge on infrastructure spending.Industrial metals also scored multi-year and multi-month peaks on hopes of resurgent demand from top global consumer China.Copper, used in plumbing, heating, electrical and telecommunications wiring, peaked Friday at $6,025.50 -- the highest price for almost one and a half years.Republican Trump's shock defeat ...

Markets - Commodities - Europe

Shanghai copper pulls back after 6 percent surge LONDON: Shanghai Futures Exchange copper extended gains during its evening session, surging 6 percent before retreating. The first position copper contract jumped 6 percent to a high of 48,040 yuan a tonne, the highest since September 2014, before pulling back to 46,240, by 1432 GMT, a gain of 2 percent. Copper on the London Metal Exchange headed on Friday for its strongest weekly close since 1980, after Donald Trump's US election victory and improved demand ...