01192017Thu
Last update: Thu, 19 Jan 2017 07pm

Europe

Markets - Commodities - Europe

Copper retreats after rally to five-week high LONDON: Copper eased on Monday as a stronger dollar prompted some investors to cash in gains after last week's upbeat Chinese and US data lifted the metal to a five-week high overnight.With US traders absent because of the Martin Luther King Day holiday and wider markets gearing up for US president-elect Donald Trump's inauguration on Friday, some buyers are taking the opportunity to realise profits in copper.The metal posted its best weekly performance in seven last week, climbing nearly 6 percent, and touched its highest since Dec. 7 when it hit $5,930 a tonne overnight. Three-month copper on the London Metal Exchange was down 0.1 percent at $5,885 in official midday trading."This is probably just a bit of a pause for breath," said Cantor Fitzgerald analyst Asa Bridle. "Everyone is watching and waiting to see what happens this week, with comments from the presidential inauguration and other bits and pieces. ...

Markets - Commodities - Europe

German hard coal imports fell 4 percent yr-yr in 2016 FRANKFURT: Germany imported 55 million tonnes of hard coal in 2016, 4 percent less than the 57.5 million in the previous year, preliminary data from coal importers' lobby VDKI showed on Friday. The figure was down from a summer 2016 forecast by VDKI for imports to remain stable, and reflected a sharper than anticipated fall in usage by power stations of 6.2 percent, and in the heat sector, while steelmakers consumed more coal. "We estimate ...

Markets - Commodities - Europe

European vegoils-Palm oil mixed ahead of USDA data ROTTERDAM: Palm oil offers on the European vegetable oils market were mixed on Thursday ahead of fresh USDA supply/demand and quarterly stocks data, which was issued too late in the afternoon for European players to react to. Supported by a weaker dollar and a stronger ringgit palm oil was offered at between $5 a tonne up and $5 down as palm oil futures weighed. Malaysian palm oil futures closed between six and 17 ringgit per ...

Markets - Commodities - Europe

EU wheat ends higher as USDA sees steep fall in US area PARIS: European wheat futures closed slightly higher on Thursday after the US government gave a lower-than-expected estimate of winter wheat sowings in the United States.March milling wheat on the Paris-based Euronext exchange settled 0.75 euro or 0.4 percent higher at 169.75 euros a tonne.The US Department of Agriculture's wheat estimated that US farmers sowed the smallest winter wheat area in more than a century in reaction to swelling supplies that have weighed on prices.The area ...

Markets - Commodities - Europe

Gold brushes 7-week peak on weak dollar after Trump briefing LONDON: Gold surged above $1,200 an ounce to its highest level in seven weeks on Thursday as the dollar fell following US President-elect Donald Trump's long-awaited news briefing the day before.But analysts warned that gold's revival since mid-December may be running out of steam as the dollar was likely to rebound once Trump moves ahead with his economic plans.Spot gold was up 0.9 percent at $1,202.42 per ounce by 1340 GMT, after touching a high ...

Markets - Commodities - Europe

NY Cocoa rebounds on short covering, weak dollar LONDON: New York cocoa rebounded sharply on Thursday after falling to a near four-year low a day earlier, with prices supported by short covering and a weaker dollar. March New York cocoa rose 3.9 percent to $2,210 a tonne before easing back slightly to $2,203 at 1329 GMT. Prices had tumbled 3.6 percent on Wednesday to their lowest since 2013. March London cocoa also rose 26 pounds, or 1.48 percent, to 1,777 pounds per tonne, ...

Markets - Commodities - Europe

Copper eases from 4-week high ahead of Trump news conference LONDON: Copper edged lower on Wednesday ahead of a news conference by US President-elect Donald Trump, having earlier hit a four-week high after upbeat Chinese and global economic data fuelled expectations for firm demand this year.Three-month copper on the London Metal Exchange was down 0.2 percent at $5,750.50 a tonne at 1035 GMT, off a peak of $5,788.50, its highest since Dec. 13. The metal surged more than 10 percent in the month following Trump's ...