06292016Wed
Last update: Wed, 29 Jun 2016 05am

Europe

Markets - Commodities - Europe

Zinc, lead hit multi-year lows, copper near 6-year low LONDON: Zinc and lead hit mult-year lows on Wednesday while copper veered towards six-year lows after a gauge of China's factory health showed ongoing weakness in the world's top metals consumer. China's October factory output growth cooled to 5.6 percent, slightly lower than a Reuters poll forecast, though the figure was cushioned by a just-above-forecast 11 percent jump in retail sales. Global equities shrugged off the data, but metals investors rushed to sell on the view that growth China, which consumes nearly half the world's copper, is still in low gear and may require further policy support. "I see some bright spots and some continued softness (in the China data) however there is a definite bearish tone from Chinese and Asian speculators. Shorting has been concentrated during Asian hours, its not entirely clear why, if anything, the supply side looks a lot shakier," said Vivienne Lloyd, analyst at Macquarie. Three ...

Markets - Commodities - Europe

Gold dips towards three-month low on dollar, US rate rise bets LONDON: Gold fell towards a three-month low on Tuesday as the dollar hit a seven-month peak on prospects the U.S. Federal Reserve will raise interest rates in December.A forecast-beating U.S. October employment report on Friday pushed up bets the Fed will increase rates for the first time in almost a decade, sending non-interest paying gold to $1,084.90 an ounce, the lowest level since August."I don't think a December rate hike is completely priced in ... ...

Markets - Commodities - Europe

ICE sugar jumps over 6pc on worries over Brazil crush LONDON: Raw sugar futures on ICE rallied more than 6 percent on Tuesday on growing concerns about poor sugar content in centre-south Brazil due to wet weather.Robusta coffee steadied as traders weighed up the potential impact of dry weather on output in Brazil and Indonesia, while cocoa rose, with dealers tracking the effects of dry weather on main crops in West Africa.ICE benchmark raw sugar rallied to a peak of 14.87 cents a pound after ...

Markets - Commodities - Europe

Zinc slides to 5-year low, copper also hit by dollar, China LONDON: Zinc prices tumbled to their lowest in over five years on Tuesday, hit by a strong dollar, worries about oversupply and concern over faltering demand in top metals consumer China.Stop loss levels were triggered as a wave of selling by funds hit industrial metals, sending copper and nickel to the weakest in over two months, despite recent announcements of output cuts by miners.Zinc was the hardest hit even though Belgium's Nyrstar, the world's top ...

Markets - Commodities - Europe

Britain's wheat quality generally good this year: AHDB LONDON: Britain's wheat crop quality was generally good this year, the Agriculture and Horticulture Development Board said on Tuesday issuing final results of a survey which showed improved average protein content and specific weights.The survey showed an increased proportion of the crop met high and medium quality bread wheat specifications, where protein content tends to be the limiting factor in Britain, despite a decline in average Hagberg falling numbers.Protein content averaged 11.9 percent, up from ...

Markets - Commodities - Europe

EU wheat falls after USDA report in tandem with Chicago PARIS: European wheat futures fell to a one-week low on Tuesday, pulled down by another fall on US markets, where the benchmark contract fell below $5, and slack export demand despite ongoing euro weakness against the dollar.Benchmark December on Paris-based Euronext milling wheat futures settled 3.00 euros or 1.6 percent lower at 180.75 euros a tonne, the lowest since Nov. 4 and below its 100-day moving average support at 181.50 euros.By the same time, US ...

Markets - Commodities - Europe

Gold close to 3-month low on US rate hike prospects LONDON: Gold was mired near a three-month low on Tuesday as the dollar edged towards a seven-month peak on prospects the US Federal Reserve will raise interest rates for the first time in a decade in December. A forecast-beating US October employment report on Friday pushed up bets the Fed will increase rates, sending non-interest-paying gold to $1,084.90 an ounce, the lowest level since August. Spot gold was up 0.1 percent at $1,092.55 an ounce ...