02102016Wed
Last update: Wed, 10 Feb 2016 05pm

Europe

Markets - Commodities - Europe

Sugar rises on short-covering, expiry deals, cocoa firms LONDON: Sugar on ICE rose on Monday on short-covering and spread-related dealings linked to the March contract expiry, while cocoa firmed on chart-based buying, underpinned by worries over possible crop damage in parts of Ivory Coast and Ghana after the seasonal Harmattan wind.Arabica coffee futures steadied in light volumes, supported by a softer dollar.ICE March raw sugar futures traded up 0.17 cent, or 1.2 percent, at 14.68 cents per lb at 1209 GMT."Activity in sugar is dominated by spreading in the front months - rolling of positions with eyes on the coming expiry of the March contract," said Michael Liddiard of consultancy Agrilion, referring to the index fund roll.The ICE March raw sugar contract expires on Feb. 27.Speculators added to a bearish bet in raw sugar contracts on ICE Futures U.S. in the week ended Feb. 3, and they cut their bullish bet in cocoa to a 1-1/2 year low, ...

Markets - Commodities - Europe

Copper edges higher after Chinese data, nickel down as stocks rise LONDON: Copper edged up on Monday as investors shrugged off worse than expected Chinese trade data, but nickel slipped after record inventories showed that expected shortages have failed to appear.A surprising plunge in China's imports showed that Asia's largest economy is losing momentum despite stimulus measures, analysts said, though global price moves and the impact of holidays may have overstated the extent of the downturn."The Chinese data was surprisingly weak across the board, from iron ...

Markets - Commodities - Europe

Gold gains on weak dollar and shares, still near 3-week low LONDON: Gold rose on Monday, rebounding from a three-week low hit in the previous session, as the dollar dropped and European equities suffered from soft Chinese trade data coupled with worries about Greece.Spot gold gained 0.6 percent to $1,240.65 an ounce by 1050 GMT. The metal posted its biggest one-day loss since December 2013 on Friday, hitting $1,228.25, as the dollar rallied after strong U.S. payrolls data."There is a lot of volatility in the market, ...

Markets - Commodities - Europe

Wheat eyes first weekly gain in seven on export glimmer PARIS/SINGAPORE: US wheat rose on Friday, on course for its first weekly rise in seven weeks as hopes of an export breakthrough in Egypt lifted the market from a four-month low. Soybean prices rose for a second day, tracking a strong rally in Malaysian palm oil futures, although gains were capped by forecasts of record production in South America.Corn edged higher, supported by a rebound in crude oil, which was set for a second straight ...

Markets - Commodities - Europe

Copper slips after US jobs data but on track for strong weekly gain LONDON: Copper fell on Friday as the dollar extended gains after US jobs data beat expectations, but losses were limited by a strong oil price and hopes that Chinese government policies will boost demand.US job growth rose solidly in January and wages rebounded strongly, data showed.The news put a mid-year interest rate increase back on the table, boosted the dollar and made dollar-priced metals costlier for non-US investors.Three-month copper on the London Metal Exchange (LME) ...

Markets - Commodities - Europe

Gold dips 2pc after US jobs data; set for weekly fall LONDON: Gold fell up to 2 percent on Friday as global shares and the dollar rose after monthly US non-farm payrolls data showed the United States job market remained on a strong footing. Nonfarm payrolls increased 257,000 last month, topping expectations for 234,000 jobs, and data for November and December was revised higher.The unemployment rate ticked up to 5.7 percent as a result of an increased labour force."The US employment report was good and there ...

Markets - Commodities - Europe

Russia's Sugar Producers Union sees 2014/2015 raw sugar imports at 500,000-550,000 T MOSCOW: Russia's Sugar Producers' Union expects raw sugar imports in 2014/2015 to reach 500,000-550,000 tonnes, its chairman, Andrei Bodin, told Reuters on Friday. Russia, once the world's top raw sugar importer, has boosted production and become more self-sufficient in recent years but imports are still important for balancing the market. The weaker rouble makes it more expensive to import sugar as prices are denominated in foreign currency. Domestic acreage under sugar beet may decline this ...