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HANOI, March 12 (Reuters) - Copper prices fell in London on
Friday as signs of weakening demand and higher supply pressured
a stunning rally that pushed prices to their highest in nearly
10 years.
Three-month copper on the London Metal Exchange fell
0.5% to $9,016 a tonne by 0258 GMT. The contract has surged 46%
since the beginning of 2020, hitting a 9-1/2-year high of $9,617
a tonne in February.
Yangshan copper premium SMM-CUYP-CN fell to $68 a tonne,
its lowest since Jan. 15, indicating weaker demand from top
consumer China, while inventories have been rising in both LME
and ShFE warehouses. MCUSTX-TOTAL CU-STX-SGH
The premium of LME cash copper over the three-month contract
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CHICAGO, March 10 (Reuters) - U.S. corn and soybean futures
each fell about 2% on Wednesday, a day after monthly U.S.
Department of Agriculture (USDA) forecasts failed to offer fresh
bullish news, freeing traders to book profits following recent
multi-year highs, analysts said.
Wheat futures also declined, following the trend, with
beneficial moisture expected to bolster crop prospects in the
U.S. Plains this week.
Chicago Board of Trade May corn settled down 11-3/4
cents at $5.34 per bushel and May soybeans ended down
30-1/4 cents at $14.09-3/4 a bushel.
CBOT May wheat fell 4 cents to settle at $6.52-1/2 a
Oracle Corporation is currently at $66.07, down $6.05 or 8.39% On pace for largest percent decrease since March 16, 2020, when it fell 10.87% Currently down two consecutive days;. | March 12, 2021
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HANOI, March 10 (Reuters) - Copper futures advanced in
London on Wednesday on hopes of rising demand, but prices in
Shanghai fell on fears of policy tightening by top consumer
China.
Three-month copper on the London Metal Exchange
advanced 0.5% to $8,822 a tonne by 0708 GMT, while the
most-traded April copper contract on the Shanghai Futures
Exchange ended down 1.9% at 65,330 yuan a tonne.
Copper is pegged by analysts to benefit from a global
economic recovery and rising demand from green investments, but
possible policy tightening in China could put a lid on a
sustained economic recovery and inflows into financial markets.
By Joshua Kirby Industria de Diseno Textil SA said Wednesday that sales and earnings fell in 2020, but that e-commerce grew sharply and it will pay a dividend for the year. Sales at the Spanish retailer came to 20.40 billion euros ($24.28 billion) in 2020, down 28% from 2019. Earnings before interest, taxes, depreciation and amortization were down 40% at EUR4.55 billion, while net income fell 70% to EUR1.11 billion. The owner of Zara and other fashion brands said performance was affected by pandemic-related store closures, but that e-commerce sales boomed by 77% to reach EUR6.6 billion in the year. Online sales are expected to continue to grow strongly in 2021 and beyond, Inditex said.