08272016Sat
Last update: Sat, 27 Aug 2016 04pm

Europe

Markets - Commodities - Europe

Gold stalls after rallying to seven-month high LONDON: Gold steadied on Tuesday, after touching its highest level in more than seven months the previous day as rising concerns about the global economic outlook hammered shares and sent investors rushing into safer assets. While those concerns persisted, European shares stabilised and gold saw some profit taking after failing to push through key resistance at $1,200 an ounce. Spot gold was trading at $1,187.6 an ounce, down 0.3 percent, by 0925 GMT, after rising to $1,200.60 on Monday, its strongest since June 22 last year. Gold has gained more than 6 percent since the start of last week on rising demand for assets deemed to be less risky. "For the time being we continue to see the safe-haven demand being supportive for gold. The next key level is $1,200 but it is looking in overbought territory," said Citigroup analyst David Wilson. "We suggest it consolidates (first) between $1,150 and ...

Markets - Commodities - Europe

Copper falls alongside equities on growth fears LONDON: Copper prices slid on Tuesday as the rout in equities undermined growth sentiment, though volumes were subdued by a holiday in China and a market waiting for clues on demand prospects in the country. Benchmark copper was down 1 percent at $4,563 a tonne by 1028 GMT. Traders expect prices of the metal used in power and construction to find support around $4,560, near the 55-day moving average.Traders said that falling equity prices were ...

Markets - Commodities - Europe

Tunisia tenders to buy soft wheat and barley HAMBURG: Tunisia's state grains agency has issued an international tender to purchase 67,000 tonnes of soft milling wheat and 75,000 tonnes of feed barley, European traders said on Tuesday. The tender closes on Wednesday, Feb. 10, they said. Copyright Reuters, 2016 ...

Markets - Commodities - Europe

Gold price surges to highest level since June as share prices slide LONDON: The price of gold jumped more than 2 percent on Monday to touch its highest level since June, extending last week's sharp gains, as sliding stock markets and worries over global economic growth prompted investors to seek safety in hard assets.Spot gold reached a peak of $1,198.70 an ounce, its strongest since June 22, after breaking key resistance at its October high at $1,190.63. By 1515 GMT it was up 2 percent at $1,196.9 ...

Markets - Commodities - Europe

Sales of gold coins surge in Europe in January LONDON: Sales of gold coins surged in Europe last month as concerns over the outlook for the global economy fuelled interest in the metal as a haven from risk, and as prices rebounded after a 10 percent drop last year.The Austrian Mint, one of Europe's largest in terms of coin sales, said it sold 94,000 ounces of gold coins in January, up 40 percent from 67,100 ounces in January last year.Britain's Royal Mint said sales ...

Markets - Commodities - Europe

EU wheat extends losing streak as Egypt concerns persist LONDON: European wheat futures extended a losing run to nine straight sessions on Monday as reassurances by top buyer Egypt about import terms failed to convince a market worried about stalling exports and large stocks.Falling prices in Chicago, a firm euro and negative chart signals added to the bearish mood, traders said.March milling wheat on Euronext ended 3.00 euros or 1.9 percent down at a contract low of 153.25 euros, also the weakest level for ...

Markets - Commodities - Europe

Russian wheat export prices fall on Egypt policy confusion MOSCOW: Russian wheat export prices fell last week, undermined by worries about future supply contracts to world No. 1 importer Egypt, analysts said on Monday. Black Sea prices for Russian wheat with 12.5 percent protein content were at $181 a tonne on a free-on-board (FOB) basis at the end of last week, down $1 from a week earlier, Russian agricultural consultancy IKAR said in a note. SovEcon, another Moscow-based consultancy, quoted FOB wheat prices in ...