07292016Fri
Last update: Fri, 29 Jul 2016 07am

Europe

Markets - Commodities - Europe

Gold treads water ahead of Fed policy statement LONDON: Gold steadied near $1,320 an ounce on Wednesday as traders awaited the outcome of a two-day Federal Reserve policy meeting later, which will be closely watched for any clues on the scale and pace of interest rate hikes this year.Spot gold was at $1,320.12 an ounce at 0930 GMT, little changed from $1,319.84 late on Tuesday. US gold futures for August delivery were down 10 cents at $1,320.70.The Fed is expected to leave rates unchanged at this meeting, but its policy statement, due after European markets close, is predicted to sound a more positive note on the economy that may boost expectations for a rate rise later this year.Gold is particularly sensitive to rising US rates, which would lift the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which it is priced."Our economists are expecting a rate hike in December, but if the Fed starts to ...

Markets - Commodities - Europe

Aluminium touches six-week low as Chinese smelters restart LONDON: Aluminium sank to its lowest in six weeks on Wednesday, on persistent worries about oversupply from Chinese smelters, but consumer buying lifted prices off the lows.Copper also declined due to supply concerns as mines ramp up in Peru, drifting close to one-week lows.Volumes on the London Metal Exchange were thin in the seasonal summer slowdown and ahead of the U.S. central bank decision on interest rates later on Wednesday.Three month aluminium on the LME ...

Markets - Commodities - Europe

Wheat drops, weighs up falling EU prices, low US crop forecast HAMBURG: Chicago wheat fell on Wednesday, as dealers weighed up the impact of falling European Euronext futures against a crop tour forecasting lower US harvest yields.Soybeans rose, rebounding from three-month lows on Monday as the focus returned to hot weather in US soybean farming areas. Corn followed wheat down.The Chicago Board Of Trade's most-active September wheat contract fell 0.1 percent to $4.14-1/2 a bushel at 1057 GMT. Most active November soybeans rose 0.5 percent to ...

Markets - Commodities - Europe

European vegoils-Palm oil boosted by strong rise in Malaysia PARIS: Vegetable oils on the European market rose on Tuesday, following palm oil futures in Malaysia and boosted by the country's commitment to raise the minimum bio content in biodiesel, which will lift palm oil consumption, traders said. Palm oil was mostly offered between $5 and $12.50 a tonne higher from Monday after easing the previous day in the wake of Chicago. Sellers lifted RBD palmkernel offers by $10 to $15 per tonne and palm ...

Markets - Commodities - Europe

Europe robusta coffee trade slows, but Indonesia picks up LONDON: Physical robusta coffee trade in Europe has begun to slow ahead the summer holiday period in the region, although traders said flows of Indonesian robusta have picked up after a futures rally and a late start to the harvest. Cash trade was slow in Europe with a number of factories set to shut for a few weeks during the peak holiday period. Robusta differentials have risen as futures slid from a 16-month peak touched ...

Markets - Commodities - Europe

Copper, zinc hit one-week lows on US rate hike prospects LONDON: Zinc and nickel touched one-week lows on Tuesday on market uncertainty ahead of the U.S. central bank meeting and as investors sold to book profits from a recent rally.The U.S. Federal Reserve, which begins its two-day meeting on Tuesday, is expected to keep interest rates unchanged this week, but analysts say some policymakers are likely to argue for a rate hike in the coming months."These market worries about the Fed meeting are justified. Our ...

Markets - Commodities - Europe

Sugar falls while arabica firms on Brazilian weather LONDON: Raw sugar futures fell on Tuesday, pressured by a generally weaker commodities complex , while arabica coffee edged higher on cold weather in top grower Brazil.Cocoa futures steadied on expectations of ample output from main crops in West Africa later this yearRaw sugar dropped as crude oil prices fell. Sugar benefits from weaker oil prices because it can boost demand for the fossil fuel in preference to cane-based ethanol biofuel."Overall the commodity basket is ...