UK shares slide on Eurozone's debt concerns

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Source: Dukascopy Bank SA
UK shares extended previous slump on Tuesday amid lingering concerns over spreading debt crisis in the Eurozone. Spanish PM announced that he will not allow the EU and ECB to decide how the county will narrow its budget deficit. Weighting down on risk sentiment, the German Constitutional Court will decide on whether to halt its participation in the ESM on Wednesday. The FTSE 100 Index eased down 0.29% to trade at 5,776.20. Four in ten sectors within the index climbed. The largest gains poised technology companies, rising 0.92%. Lenders also were higher, with Royal Bank of Scotland, HSBC and Barclays jumping 3.56%, 0.32% and 0.55%, respectively. At the same time, mining companies led declines on China's growth concerns. BHP Billiton, Rio Tinto and Xstrata tumbled 0.84%, 0.75% and 1.80%. The top-loser was Burberry, sinking by 20.00%. The firm reported that its adjusted pre-tax profit for 2012 will be at the lower end of the forecast.

 

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Tue, 11 Sep 2012 15:29:46 GMT

Natural gas soared 5% on Tuesday

Natural gas futures soared 5% and reached a four-week high on Tuesday, as traders looked for the U.S. government's report on natural gas stockpiles scheduled for later this week. October natural gas rocketed 4.5% to$2.939 per million British thermal units.

Tue, 11 Sep 2012 16:57:47 GMT

Corn tumbled on faster harvesting in the US

Farm commodities were mixed, with sugar and coffee rebounding and grains dropping. Broadly stronger US Dollar coupled with better weather conditions in the US created heavy pressure on agricultural commodities. Wheat futures declined despite crop forecasts' cuts. Rabobank lowered Australian wheat output to 22.79 million MT in 2012-2013, citing unfavorable weather conditions in July. Corn was the worst-performer after USDA reported that

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