07302016Sat
Last update: Sat, 30 Jul 2016 02am

Europe

Markets - Commodities - Europe

Copper falls, weak China trade reinforces demand jitters LONDON: Copper prices fell on Tuesday as weak trade data from China fuelled worries about demand growth, but higher imports of the metal by the world's top consumer helped limit losses.Benchmark copper on the London Metal Exchange was down 0.1 percent at $4,550 a tonne at 1145 GMT. China's exports fell a worse than expected 6.8 percent in November from a year earlier, their fifth straight month of decline, while imports tumbled 8.7 percent, their 13th consecutive drop. However, its copper imports last month jumped 10 percent to 460,000 tonnes compared with November last year, as the price plummeted to 6-1/2-year lows of $4,443.50 a tonne and spurred opportunistic buying even as demand growth slows. "The latest trade data is disappointing as far as exports and imports are concerned, it's another weak growth signal for China and it's negative for miners," said Gianclaudio Torlizzi, managing director at consultancy T-Commodity. "People ...

Markets - Commodities - Europe

Nasdaq launches German wind index futures FRANKFURT: Nasdaq Commodities said on Tuesday it has launched German wind index futures contracts that will allow power producers, utilities and investors to hedge risks from inconsistent output.The Oslo-based exchange operator's Nasdaq Commodities arm |introduced a German wind index in September, NAREX-WIDE, to give the market a chance to see how the index calculates how hard the wind blows. The index futures contract can be used to hedge such risks as too little wind and ...

Markets - Commodities - Europe

Anglo American accelerates restructuring as commodities price slide LONDON: Global mining giant Anglo American on Tuesday announced a "radical" restructuring of its company, writing off billions of dollars in the process, as commodity prices crash on world markets."While we have continued to deliver our business restructuring and performance objectives across the board, the severity of commodity price deterioration requires bolder action," chief executive Mark Cutifani said in a statement, alongside news of impairments totalling between $3.7 billion and $4.7 billion (3.4 billion euros ...

Markets - Commodities - Europe

Copper slides on dollar strength and China demand concerns LONDON: Copper prices fell on Monday alongside oil as a strong dollar reinforced worries about weak demand growth in top consumer China and expectations of surplus metal.Benchmark copper on the London Metal Exchange ended 1.2 percent down at $4,557 a tonne.The sell-off accelerated in the afternoon session as some traders and funds sold copper, disappointed by the lack of follow-through after last week's gains and seeing oil drop to levels last seen in March 2009.A ...

Markets - Commodities - Europe

Palm oil firmer on soyoil and El Nino ROTTERDAM: Palm oil on the European vegetable oils market continued to firm on Monday after a rally in CBOT soyoil futures on Friday on expectations for more soyoil use in U.S. biodiesel.The market closed off the day's highs as energy prices dipped."After a very strong start the European cash market slowly eased off a bit because of a dip in energy prices after an OPEC meeting ended without a decision on output," one broker said.Palm ...

Markets - Commodities - Europe

EU wheat edges higher in technical rebound PARIS: European wheat ended slightly higher on Monday after hitting a two-month low on Friday, but heavy supplies meant that it failed to sustain a sharp rebound earlier in the day.March milling wheat, the new-crop benchmark on Euronext, settled 0.50 euros higher at 179.25 euros a tonne after touching 180.75 euros in earlier trade.December, which expires on Dec. 10, was down 0.7 percent at 171.75 euros a tonne.Paris wheat futures hit a two-month low on ...

Markets - Commodities - Europe

Russian wheat prices down with lower crop risks, freight rates rise MOSCOW: Russian export prices for wheat fell last week due to larger supplies from the current crop and fewer risks for the next year's crop, analysts said on Monday, adding that freight rates in the Azov Sea rose. The rates for freight rose due to risks that either Russia will restrict grain exports to Turkey or Ankara will limit deals with Moscow over the downing of a Russian bomber jet near the Syria-Turkey border on ...