08242016Wed
Last update: Wed, 24 Aug 2016 01pm

Europe

Markets - Commodities - Europe

EU clears 337,000 tonnes wheat export licences in week to Dec 29 PARIS: The European Union granted export licences for 337,000 tonnes of soft wheat in the week to Dec 29, taking the volume cleared since the beginning of the 2015/16 season on July 1 to 12.4 million tonnes, official data showed on Tuesday. The EU also granted this week licences to export 20,000 tonnes of barley, bringing the total this season to 5.5 million tonnes. In imports, the EU awarded licences for 405,000 tonnes of maize, taking the volume so far this season to 6.6 million tonnes, the data showed. The European Commission released the data several days later than usual because of the year-end holiday. Copyright Reuters, 2016 ...

Markets - Commodities - Europe

Copper gains as China battles to shore up equities and yuan LONDON: Copper rose off two-week lows on Tuesday as China pumped in an estimated $20 billion to stabilise its equity and currency markets, though worries over slowing demand in the world's top metals user kept gains firmly in check. China stocks closed mixed thanks to the huge cash injection, but the yuan fell to a 4-1/2 year low. Stocks slid 7 percent on Monday and trade was suspended nationwide after surveys showed factory activity shrank ...

Markets - Commodities - Europe

Copper starts 2016 on soft footing after bleak China data LONDON: Copper hit a two-week low on the first trading day of 2016 after weak Chinese factory data weighed heavily on Shanghai equities and rekindled worries over economic growth in China and beyond.Surveys showed factory activity in the world's second-largest economy shrank again in December, sparking a 7 percent slide in Chinese shares that triggered a trading halt.Adding to the worries, China's central bank fixed the yuan at a 4-1/2 year low.Three-month copper on the ...

Markets - Commodities - Europe

EU wheat at new 4-month low in broad market retreat PARIS: Euronext wheat futures slipped to a new four-month low on Monday as investor jitters over China reinforced prevailing bearish sentiment in well-supplied grain markets.March milling wheat on the Paris-based Euronext market settled down 2.50 euros at 171.00 euros a tonne, after touching a low of 170.50 euros a tonne in closing trade.A sharp fall in Chicago, where wheat futures set contract lows, pushed Euronext prices below a support zone around 172-173 euros, dealers said.The ...

Markets - Commodities - Europe

Gold sinks 10pc for third annual loss; tough year ahead LONDON: Gold was steady on Thursday, ending the year down 10 percent for its third straight annual decline, ahead of another potentially challenging year in 2016 amid the prospect of higher U.S. interest rates and a robust dollar.Largely influenced by U.S. monetary policy and dollar flows, the price of gold fell 10 percent in 2015 as some investors sold the precious metal to buy assets that pay a yield, such as equities.The most-active U.S. gold ...

Markets - Commodities - Europe

Base metals slump, face another storm in 2016 LONDON: Copper and zinc lost a quarter of their value in 2015 while nickel fell by more than 40 percent as slowing growth in top consumer China, a supply overhang and a strong dollar hammered industrial metals.Worries about tighter supplies to come capped lead's losses at 4 percent. Aluminium fell 19 percent, and tin ceded 24 percent on concern about market surpluses.A rising U.S. currency makes dollar-denominated commodities more expensive for non-U.S. buyers.Investors are hoping ...

Markets - Commodities - Europe

EU wheat ends volatile 2015 with market focus on competition, weather PARIS: European wheat prices traded near four-month lows on Thursday, as traders expected fierce competition globally next year, after a volatile first semester marked by an initial plunge on prospects of hefty supplies that was only partly recovered. The focus for the next six months will likely be on competition from Argentina, where devaluation of the peso and the scrapping of an export tax are spurring exports, and on the euro/dollar exchange rate. Other factors ...