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Last update: Sat, 21 Jan 2017 09am

Europe

Markets - Commodities - Europe

Copper steady ahead of Fed decision, helped by China growth signs LONDON: Copper steadied on Wednesday as investors remained upbeat on China's growth prospects but were anxious ahead of an expected US rate rise and Federal Reserve commentary on the outlook for further monetary tightening and growth next year. Investors are concerned that the dollar will get a further boost if the central bank also signals an acceleration in the pace of rate rises next year to deal with an expected ramp-up in fiscal spending under incoming President Donald Trump. The spending plan is seen as inflationary and copper has until now attracted investment as an inflation hedge since Trump's election win. This has happened despite a dollar rally, which usually weighs on metals priced in the US currency. "Copper has been correlated with the dollar but we don't think its sustainable. Ultimately the stronger dollar is making copper more expensive and at some point that will bite," said Caroline Baine, ...

Markets - Commodities - Europe

Ivory Coast 2016/17 forward cocoa sales at 1,308,000 T by Nov. 25 ABIDJAN: Ivory Coast, the world's top cocoa grower, had sold forward 1,308,000 tonnes of 2016/17 beans by Nov. 25, a document from the Coffee and Cocoa Council (CCC) marketing board seen by Reuters showed on Wednesday. The West African nation sells forward the bulk of its anticipated harvest via electronic auctions and uses the average sale price to set a minimum price for farmers. The CCC forward sales figure includes 220,000 tonnes of so-called international ...

Markets - Commodities - Europe

Global zinc market deficit narrows slightly in Oct LONDON: The global zinc market deficit narrowed slightly to 17,000 tonnes in October from a deficit of 20,000 tonnes in September, data from the International Lead and Zinc Study Group (ILZSG) showed on Wednesday.In the first 10 months of the year the zinc market saw a deficit of 277,000 tonnes versus a surplus of 201,000 tonnes in the same period last year.Benchmark zinc prices on the London Metal Exchange hit $2,985 a tonne last month, ...

Markets - Commodities - Europe

Gold ticks higher, awaiting Fed rate decision, 2017 view LONDON: Gold hovered at slightly firmer levels on Wednesday as investors kept to the sidelines, confident that the US central bank would raise interest rates but unsure about what guidance it would give for next year.Bullion was supported by a softer dollar ahead of a US Federal Reserve announcement later on Wednesday that markets overwhelmingly expect will be an interest rate hike of a quarter percentage point.Markets are unsure, however, about whether the Fed will ...

Markets - Commodities - Europe

Sugar at new six-month lows on fund liquidation LONDON: Raw sugar futures hit new six-month lows on Wednesday as funds reacted to technical sell signals and liquidated long bets, and analysts predicted a record crop next year. March raws were down 0.5 cents or 2.6 percent, at 18.13 cents a pound at 1405 GMT, earlier hitting a low of 18.09 cents, a level not seen since June 2. Funds were liquidating longs due to sell signals set off by the price breaking a ...

Markets - Commodities - Europe

Tunisia gets offers in soft wheat, durum, barley tenders HAMBURG: The lowest offer in the international tender from Tunisia's state grains agency on Wednesday to purchase 92,000 tonnes of soft milling wheat was $192.89 a tonne c&f for optional-origin supplies, European traders said. The lowest price offered for 50,000 tonnes of durum wheat was $269.69 a tonne c&f and lowest price for 50,000 tonnes of feed barley was $178.25 a tonne c&f, they said. No purchase has yet been made and results are expected ...

Markets - Commodities - Europe

Gold falls ahead of US Fed meeting LONDON: Gold dipped on Tuesday, losing its lustre ahead of a key two-day meeting of the US Federal Reserve that is expected to deliver the second interest rate rise in a decade.The Fed meeting starts later on Tuesday and markets have priced in a nearly 100 percent chance of a quarter percentage point increase. Higher rates could dent demand for non-interest paying gold, while also boosting the dollar.Spot gold was down 0.2 percent to $1,160.35 ...