Sep
26
Check out best bets for crude, gold, copper
September 26, 2011 | Leave a Comment
Rajini Panicker, head of commodities research at MF Global Commodities India recommended a short on Multi Commodity Exchange (MCX) crude oil contract at levels of 4,120 for a stop loss of Rs 4,185 per barrel and target of Rs 3,920-3,900 per barrel levels. She told CNBC-TV18, “At levels of 4,120, the October crude would be [...]
Sep
26
The doctor’s diagnosis on the great world economy
September 26, 2011 | Leave a Comment
Let’s forget about Greece for the moment. Or even the US for that matter. What else is going wrong in the global economy that’s causing global markets to head southwards so sharply? The S&P 500 is down almost 10% for the year. But, the BSE-Sensex is down over 20% year to date (YTD). China and [...]
Sep
26
World stocks, euro off lows on ECB easing hopes
September 26, 2011 | Leave a Comment
LONDON: World stocks came off their lows and the euro inched up from an earlier 10-year trough against the yen on Monday as speculation that the European Central Bank might cut interest rates to help the economy countered concern over the euro zone debt crisis. Concerns about the global economic slowdown have not gone away, [...]
Sep
26
US market exceedingly weak, buy gold on dips: Fat Prophets
September 26, 2011 | Leave a Comment
Prices of gold and silver plunged on Monday as investors liquidated their positions on fears of an impending recession. US gold dropped 2% to USD 1,607.2 per ounce, while US silver shed 6.6% to USD 28.10. David Lennox, analyst at Fat Prophets, in an interview to CNBC-TV18, gave his view on how precious metals will [...]
Sep
26
Sterlite: Weak outlook priced in
September 26, 2011 | Leave a Comment
Even as metal prices weaken, the company’s zinc, lead & silver businesses should provide cushion. With declining base metal prices on the London Metal Exchange (LME), the stock of Sterlite Industries has lagged the broader market since end-July. It has lost almost 32 per cent in the past two months, including 4.5 per cent on [...]
Sep
26
Sterlite Industries, Hindalco hit 52-week low on falling copper prices
September 26, 2011 | Leave a Comment
NEW DELHI: Shares of Sterlite Industries & Hindalco touched their 52-week low on Monday as copper prices extended losses today. “Copper extended losses as fears of a Greek default stirred worries of a global recession, which could slow industrial use, a scenario underlined by copper’s sharpest weekly fall in nearly three years last week,” according [...]
Sep
26
Copper to remain uninspiring, range-bound in short term
September 26, 2011 | Leave a Comment
Copper, the bellwether for all base metals, is sensitive to the changes in world economic outlook. No surprise, then, that this growth-sensitive commodity sank to its lowest in 10 months, triggered by the US Fed missive on the economy’s downward risk, debt concerns in Greece, Spain and now Italy, slowing industrial output in the euro [...]
Sep
19
Some workers return to Freeport Indonesia copper mine
September 19, 2011 | Leave a Comment
Strike over pay still ongoing, output not at maximum * Returning workers are contractors, union says * Workers say any output cannot be shipped due to strike * Copper prices at lowest this year (Adds company memo, port comment) By Rieka Rahadiana JAKARTA, Sept 19 (Reuters) – More than a thousand workers have returned to [...]
Sep
19
Copper Sinks to 9-Month Low as Euro Worries Mount
September 19, 2011 | Leave a Comment
NEW YORK—Copper futures slumped to their lowest levels in more than nine months on worries that Europe’s widening debt crisis would deepen the global economic slowdown and slash demand for metals. Prices for the industrial metal had held firm in recent weeks despite fears that Europe’s banks may be sliding toward a credit crunch. But [...]
Sep
19
Copper hovers around its year-low
September 19, 2011 | Leave a Comment
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/2a635288-e2a5-11e0-897a-00144feabdc0.html#ixzz1YQ2AxQLZ Commodities markets were hit by European economic growth worries on Monday amid the eurozone’s debt crisis [...]