04292016Fri
Last update: Fri, 29 Apr 2016 12am

Europe

Markets - Commodities - Europe

Copper hits lowest in a week on China speculator crackdown LONDON: Copper dipped to the lowest in a week on the third straight day of losses as a crackdown on speculators in China dampened sentiment, but metals markets were supported by a weaker dollar and strong oil prices.Iron ore and steel futures in China led a retreat as the authorities raised trading costs to deter speculative investors believed to be behind last week's big spike in prices and volumes that had raised fears of a destabilising crash."That is negative for risk sentiment and that has played out in the short term across the base metals. But we don't think there's been nowhere near the same increase in speculative participation in base metals as we've seen in the ferrous complex," said analyst Nicholas Snowdon at Standard Chartered in London.Three-month copper on the London Metal Exchange was down 0.5 percent at $4,938 a tonne by 1002 GMT after touching a one-week low ...

Markets - Commodities - Europe

Soybean prices fall as Argentina crop concerns ease LONDON: US soybean futures were lower on Wednesday as drier weather in Argentina helped to curb crop concerns following heavy flooding and corn prices also eased slightly.The Chicago Board of Trade most-active July soybean contract was off 0.3 percent to $10.23-3/4 a bushel at 1033 GMT."Soybeans have had such an incredible run-up and it looked like bit of an over reaction, given the outlook on supplies," said Phin Ziebell, agribusiness economist at National Australia Bank ...

Markets - Commodities - Europe

Gold rises as dollar weakens ahead of Fed policy outcome LONDON: Gold rose for a third straight session on Wednesday as weaker than expected U.S. data weighed on the dollar ahead of the Federal Reserve's monetary policy decision later in the day.The Fed is likely to keep interest rates steady, with the focus resting squarely on the tone of its statement and any hints on the timing of any future increases. The U.S. central bank raised rates in December for the first time in nearly ...

Markets - Commodities - Europe

Sugar eases ahead of cane data, cocoa off 4-1/2 month high LONDON: Raw sugar on ICE eased on Wednesday as traders awaited Brazilian cane data expected to show a rapid crush in the first half of April, while London cocoa dipped after touching its highest level in 4-1/2 months.Coffee edged up, supported by a soft dollar. A weaker dollar makes dollar-based commodities cheaper in other currencies.Several traders expected the cane crush data from Unica, an industry group, expected at 1400 GMT, to show a record crush ...

Markets - Commodities - Europe

Copper slides as worries about China demand resurface LONDON: Copper prices fell on Tuesday in a sell-off fuelled by worries that expectations of stronger demand in top consumer China were overly optimistic, though a weaker dollar helped support prices. Benchmark copper on the London Metal Exchange closed down 0.7 percent at $4,962 a tonne. "Going back to January everybody was extremely bearish about China and they are way too optimistic now," Oxford Economics analyst Dan Smith said. "We're going to see a significant ...

Markets - Commodities - Europe

Vietnam coffee premiums in Europe hold up despite futures rally LONDON: Vietnamese physical robusta coffee premiums remain strong in Europe despite a futures rally, boosted by strong demand from roasters while concerns about dry weather has slowed the pace of farmer selling, European traders said on Tuesday.Traders quoted grade 2 Vietnamese robusta at $50 over July futures this week, unchanged from a week ago. Benchmark futures hit a five-month high of $1,602 per tonne on April 21.Dealers noted buoyant demand for Vietnamese robusta, saying many ...

Markets - Commodities - Europe

European wheat under pressure as large crop looms PARIS: European wheat prices edged lower on Tuesday, under pressure from a firm euro and bearish fundamentals with the prospect of good harvests ahead.May milling wheat on Paris-based Euronext was 1.00 euro or 0.7 percent weaker by 1610 GMT at 151.25 euros a tonne, just above key support of 151.00, after rising to 152.75 euros.Traders said price moves remained sensitive to fund positioning which sent the market higher last week without the support of fundamental. ...