12112016Sun
Last update: Sun, 11 Dec 2016 02pm

Europe

Markets - Commodities - Europe

Sugar firms, coffee dips with focus on Brazil harvests LONDON: Raw sugar futures on ICE inched higher and coffee dipped on Thursday, with traders focused on Brazilian harvests and fluctuations in Brazil's currency. Cocoa eased, with attention centred on rainfall relieving development of heat-stressed mid-crops in West Africa.Sugar edged higher, but remained within sight of a one-month low of 14.54 cents a lb touched on Wednesday, pressured by favourable harvest conditions in Brazil. "A bit of an acceleration in the cane crush is expected in the next fortnight in centre-south Brazil," Tracey Allen, a senior commodity analyst with Rabobank, said. "The increasing pace of the harvest is now grabbing the attention of the market. Currency (Brazilian real) will also be a factor." She was referring to weakness in the real, which encourages Brazilian producers to sell dollar-denominated sugar and coffee to lock in local currency returns. ICE May raw sugar was up 0.05 cent, or 0.3 percent, at 14.67 ...

Markets - Commodities - Europe

Copper at one-month low as demand concerns trigger selling LONDON: Copper hit its lowest in a month on Thursday as concerns over demand from major consumer China helped push the metal through key chart support, triggering further selling.Any lingering hopes of significant copper output cuts to offset slow demand growth from top consumer China were laid to rest this week at the Cesco copper industry event in Chile, as delegates focused instead on cutting costs.Downward momentum picked up after prices slipped below $4,770 an ...

Markets - Commodities - Europe

European sugar sowings progress with some delays due to rains LONDON: European sugar beet sowings have progressed in mostly favourable conditions apart from some sporadic interruptions due to rains, growers' groups said.Larger European Union growers have planted bigger areas than last year in anticipation of market opportunities after EU output quotas end next year.As part of a reform of the EU's farm policy, member states agreed to liberalise sugar output in 2017 and to abolish minimum sugar beet prices blamed for limiting exports.French farmers completed ...

Markets - Commodities - Europe

French February soft wheat exports 1.1mn T, led by Morocco PARIS: France exported 1.1 million tonnes of soft wheat outside the European Union in February, with Morocco the biggest destination, customs data showed on Thursday.The February volume took the total since the start of the 2015/16 season in July to 6.8 million tonnes, up 2 percent from 6.7 million in the July-February period last season.France, the EU's largest wheat exporter, shipped 362,000 tonnes to Morocco in February, outpacing 305,000 tonnes of exports to Algeria. Demand ...

Markets - Commodities - Europe

Gold gains on lower dollar after Fed remains cautious on rates LONDON: Gold rose more than one percent on Thursday as the dollar remained under pressure after minutes from the Federal Reserve's last policy meeting showed caution over future U.S. interest rates increases.Fed's policymakers debated whether an interest rate hike would be needed in April at the central bank's meeting on March 15-16, but a consensus emerged that risks from a global economic slowdown warranted a cautious approach.They signalled that they expected to raise rates twice ...

Markets - Commodities - Europe

Wheat drops on good US crop rating, corn up on sowing switch HAMBURG/SINGAPORE: Chicago wheat fell on Wednesday, pressured by a US Department of Agriculture (USDA) report giving a better picture of US wheat condition than some expected.Corn rose to its highest in almost a week on talk US farmers may plant more soybeans instead of the corn sowings they previously planned. Soybeans were lower, in turn weakened by prospects of larger US sowings, but saw some support from rain hindering Argentina's harvest.The Chicago Board of Trade's ...

Markets - Commodities - Europe

Gold slips 1pc as stocks and dollar recover some losses LONDON: Gold fell 1 percent on Wednesday as a recovery in equities and the dollar prompted some profit-taking after Tuesday's rally, though price moves were muted as traders awaited the minutes of the US Federal Reserve's last policy meeting. The minutes, due to be published at 1800 GMT, will be scrutinised for clues on the outlook for US monetary policy and any signs of dissent over the central bank's decision to leave interest rates on ...