Energy markets declined on Thursday on demand worries

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Source: Dukascopy Bank
Energy commodities fell on Thursday on the global demand concerns after China and the Euro Zone's countries reported lower than expected PMI data. Moreover, talks that large manufacturing countries are planning to release the strategic oil resources to curb inflation pulled the oil price down. At the same time, easing tensions between Iran and the West as Saudi Arabia is ready to offset oil supply shortages if necessary also added to losses of the commodity group. Meanwhile, natural gas also moved down after the EIA reported the increase in the natural gas inventories and mild spring weather continued to weight.


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Fri, 23 Mar 2012 13:49:45 GMT

FTSE 100 extends loss on Friday

British FTSE 100 extended drop on Friday as miners and banks kept pushing index lower. Additionally data showed UK mortgage approvals declined more than expected in February. Randgold Resources fell 5% and Rio Tinto shed 1.4%. Royal Bank of Scotland Group lost 1% and HSBC Holdings slipped 1.2%. On the upside BT group rallied 6% on news telecom company finally

Fri, 23 Mar 2012 15:32:50 GMT

Base metals slumped on Thursday after EU PMI data

Industry metals tumbled on Thursday amid stronger US Dollar and weaker equities. The strongest downward pressure on the commodity pack was created by weak PMI releases from the EU and China. Improving manufacturing activity in the US failed to limit the losses. Alumnium and copper were the top-losers, showing high sensitivity to the economic conditions in the EU and China.

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