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Asia-Pacific News Australia & New Zealand

  • CHICAGO, June 26- Chicago Board of Trade wheat prices fell about 2 percent on Monday, extending their slide to four sessions on profit-taking after a run-up to one-year highs last week, analysts said. July corn ended up 1-1/ 4 cents at $3.59 a bushel and July soybeans rose 2-1/ 4 cents to $9.06-3/ 4 a bushel. "The wheat price in Chicago has fallen... as part of a consolidation...

  • CHICAGO, June 26- Chicago Board of Trade wheat prices fell about 2 percent on Monday, extending their slide to four sessions on profit-taking after a run-up to one-year highs last week, analysts said. As of 1:03 p.m. CDT, CBOT July wheat was down 8-1/ 2 cents at $4.51-1/ 4 per bushel. July corn was up 1-3/ 4 cents at $3.59-1/ 2 a bushel and July soybeans were up 4 cents at...

  • *Copper retreats from Friday's peak of $5,854.50/ T. LONDON, June 26- Copper eased on Monday after U.S. durable goods data missed forecasts, though expectations for upbeat Chinese demand and concerns over mine supply kept the metal underpinned near Friday's 11- week high. The metal is still holding near Friday's peak of $5,854.50, its highest since April 7, and is up...

  • *Copper retreats from Friday's peak of $5,854.50/ T. LONDON, June 26- Copper eased on Monday as oil prices fell and U.S. durable goods data missed forecasts, though expectations for upbeat Chinese demand and concern over mine supply kept the metal underpinned near Friday's 11- week high. LME copper touched its highest since April 7 on Friday at $5,854.50.

  • U.S. stock indexes closed mostly higher Monday, snapping a four-day losing streak for the Dow Jones industrial average on a day of largely listless trading. "It's a pretty low volatility day and a continuation of the trend we saw last week, which is equity markets largely treading water," said Bill Northey, chief investment officer at the private client group at U.S.

  • SYDNEY/ LONDON, June 26- Rio Tinto on Monday confirmed Yancoal Australia as the preferred buyer for its Australian Coal& Allied unit after the China- backed company added an eleventh-hour sweetener to top a rival bid from Glencore. Rio's mines in Australia's Hunter Valley region are attractive to both Glencore and China because the quality of their coal means it...

  • *Copper retreats from Friday's peak of $5,854.50/ T. *Lead prices reach highest since May 3. LONDON, June 26- Copper edged lower on Monday as the dollar firmed, but the industrial metal held near the previous session's 11- week high as expectations for upbeat Chinese demand and concern over mine supply lent support.

  • *OPEC's supply cuts undermined by higher U.S. output. LONDON, June 26- Oil edged up for a third straight session on Monday, climbing off last week's seven-month lows but with gains capped by the relentless rise in U.S. supply and bloated global inventories. Brent crude futures were up 11 cents at $46.65 per barrel by 1133 GMT, on track for a near 20 percent drop in the...

  • PARIS/ SYDNEY, June 26- U.S. wheat prices fell on Monday, with Chicago futures retreating from a one-year high and spring wheat edging back from a 2-1/ 2 year top, as the market awaited more indications on crop conditions after adverse growing weather. The most active wheat futures on the Chicago Board Of Trade fell 1.4 percent to $4.66-3/ 4 a bushel by 1054 GMT, pulling...

  • SYDNEY/ LONDON, June 26- Rio Tinto on Monday confirmed Yancoal Australia as the preferred buyer for its Australian Coal& Allied unit after the China- backed company added an eleventh-hour sweetener to top a rival bid from Glencore. Yancoal, increased its offer to $2.69 billion from $2.45 billion, adding $240 million in unconditional guaranteed royalty payments...

  • *Copper eyes Friday's peak of $5,854.50/ T. *Lead prices reach highest since May 3. LONDON, June 26- Copper firmed on Monday, rising back towards the previous session's 11- week high as expectations for upbeat Chinese demand this year and concerns over mine supply lent support.

  • U.S. shale oil output is up around 10 percent since last year, and, together with increases from the likes of Brazil, threatens to scupper the efforts of the Organization of the Petroleum Exporting Countries and its partners to force a drawdown in global oil inventories via production cuts. Brent crude futures were up 48 cents at $46.02 per barrel by 0836 GMT.

  • SEOUL, June 26- Oil prices rose 1 percent early on Monday on a weaker dollar, but an increase in U.S. drilling activity stoked worries that a global supply glut will persist despite an OPEC- led effort to curb output. Global benchmark Brent crude futures were trading up 45 cents, or 1.0 percent, at $45.99 per barrel at 0623 GMT. I suspect short covering, "said Ric Spooner,...

  • LAUNCESTON, Australia, June 26- Here's a question for the anti-coal lobby. Rio's mines in the Hunter Valley north of Sydney are attractive to both Glencore and China's Yancoal because they are likely to be profitable for the remaining life of the pits, which is expected to be around 20 years. They also have existing customers for the high quality thermal coal used...

  • SYDNEY, June 26- A recent slowdown in U.S. inflation was mainly due to one-off factors and should not prevent further increases in interest rates, a top U.S. central banker said on Monday. Speaking to reporters before a speech in Sydney, San Francisco Federal Reserve Bank President John Williams said three rate rises this year and three to four next year would be...

  • Nineteen defendants, including three Australians from the sales and marketing team of Australia's Crown Resorts Ltd., were convicted by the court in Shanghai. Three defendants, who had been released on bail last Nov. 11, were not fined or sentenced to prison, Crown Resorts said. The case against Crown Resorts' staff came as authorities crack down on gambling as...

  • SHANGHAI, June 26- A Chinese court handed short jail terms to three Australian employees of Crown Resorts Ltd in a quick-fire trial following a lengthy probe into how the firm lured Chinese high-rollers to its casinos. The Australian consul general in Shanghai told reporters at the Baoshan District Court that Crown's head of international VIP gambling Jason...

  • SHANGHAI, June 26- A Chinese court sentenced three Australian employees of casino operator Crown Resorts Ltd to short jail terms on Monday, an Australian diplomat said, but they will have little time left to serve as the sentences run from the date of their detention last October. The embassy official said Crown's head of international VIP gambling Jason...

  • BEIJING— Asian markets rose Monday after Wall Street rebounded from losses to end the week higher on stronger oil and natural gas prices. Seoul's Kospi gained 0.3 percent to 2,386.69 and Taiwan also rose. Markets in India, Singapore, Malaysia and Indonesia were closed for a holiday.

  • SHANGHAI, June 26- Three Australians went on trial in China on Monday along with a dozen other Crown Resorts Ltd employees and former employees accused of gambling crimes, following a lengthy probe into how the firm lured Chinese high-rollers to its casinos. Crown does not directly run casinos in China. China has been cracking down on attempts by casinos to woo...