02142016Sun
Last update: Sun, 14 Feb 2016 09pm

Europe

Markets - Commodities - Europe

Gold rises on lower dollar and global economy concerns LONDON: Gold rose on Monday, as the dollar edged lower on renewed oil market weakness and concerns over the global economic outlook which have raised questions about the Federal Reserve's pace of interest rate tightening.The Federal Open Market Committee meets this week and is widely expected to leave its federal funds rate unchanged at 0.25-0.50 percent on Wednesday.Spot gold rose 0.5 percent to $1,103.61 an ounce by 1314 GMT, extending a near one percent increase made last week, when investor appetite for risk evaporated on worries China's economic growth is slowing down.U.S. gold for February delivery gained 0.7 percent to $1,104.30 an ounce.Gold had scaled a two-month high of $1,112 on Jan. 8, but lacked upward momentum before steadying mostly below $1,100."Gold's technical picture is slowly improving but a more sustained rally could only be confirmed by a break above $1,112-$1,113," said ActivTrades chief analyst Carlo Alberto de Casa.Gold fell ...

Markets - Commodities - Europe

EU carbon price falls more than 6pc LONDON: The benchmark European Union carbon price extended last week's losses on Monday, falling more than 6 percent amid a general fall in energy prices.The Dec-16 contract was 6.13 percent, or 0.39 euro, lower at 5.97 euros a tonne, just 10 euro cents above 5.87 euros hit last week, which was its lowest since 2014.Carbon prices have been losing value steadily this month as oil prices and other energy markets have fallen."The weaker energy complex ...

Markets - Commodities - Europe

NY sugar may drop to 14.21 cents SINGAPORE: New York March sugar may drop to 14.21 cents per lb, as indicated by its wave pattern and a Fibonacci retracement analysis.The contract could be riding on a wave a, the fifth wave of a double-zigzag from the Dec. 4, 2015 high of 15.85 cents. This wave could eventually travel to 13.60 cents, which is pointed by the lower trendline of a falling channel.A more realistic target could be 14.21 cents, the 14.6 percent ...

Markets - Commodities - Europe

Russia's MMK says Q4 crude steel output down 8pc MOSCOW: Russian steelmaker MMK said on Monday its crude steel output fell to 2.9 million tonnes in the last three months of 2015, down 8 percent quarter-on-quarter.Total output in 2015 fell 6 percent year-on-year to 12.2 million tonnes, the company said in a statement.MMK said it saw weaker demand in January lasting until the second half of the first quarter and domestic prices increasing in February and March due the devaluation of the rouble.Copyright Reuters, ...

Markets - Commodities - Europe

European vegoils-Palm oil mixed on contrasting leads ROTTERDAM: Palm oil on the European vegetable oils market was offered mixed on Thursday with support from a rally in energy markets and a stronger ringgit while worries over exports and lower Malaysian palm oil futures weighed. "The jump in mineral oil supported most vegetable oils, as it could trigger demand from biodiesel producers. Buyers were still cautious as the fundamentals were still mostly bearish," one broker said. Palm oil was mostly offered between $2.50 ...

Markets - Commodities - Europe

Copper jumps as ECB's Draghi hints at easing LONDON: Copper and other base metals rebounded on Thursday after the head of the European Central Bank raised hopes of more monetary stimulus, prompting investors to buy back bearish positions.Oil prices and global stocks bounced after ECB President Mario Draghi hinted at additional stimulus measures as early as March as economic risks had grown."Some of the late shorts were getting cold feet and others were taking profits. I think this rally could extend," said a ...

Markets - Commodities - Europe

Gold retreats as equities recover some ground after rout LONDON: Gold edged lower on Thursday after posting its biggest one-day gain in two weeks in the previous session, as a tentative rebound in European equities dampened some risk aversion.European shares rose 0.8 percent, shrugging off a weak session in Asia overnight, though remained near multi-year lows after a volatile two days that has wiped trillions of dollars off global markets.Also feeding into better sentiment, oil prices, which fell to their weakest since 2003 this ...