AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,806 Increased By 37.8 (0.39%)
BR30 29,678 Increased By 278.1 (0.95%)
KSE100 92,304 Increased By 366.3 (0.4%)
KSE30 28,840 Increased By 96.6 (0.34%)

London sugar futures closed higher on speculative buying on Wednesday, buoyed by the New York raw sugar futures market, but traders said underlying physical business remained slack. December settled up $2.60 at $404.50 a tonne, near the top of the day's range of $405.50 to $399.70.
Total volume was 8,078 lots. The London market pushed higher in sympathy with New York raw sugar futures, bolstered by local and speculative buying, traders said.
They said underlying global physical sugar trade appeared routine and light as many importing countries, such as Russia, pressed on with domestic harvests.
The International Sugar Organisation on Wednesday raised its forecast for the world sugar surplus in 2006/07 (October/ September) to 5.8 million tonnes, up from a previous projection of 2.2 million.
COFFEE HIGHER: London robusta coffee futures closed higher on Wednesday boosted by speculative buying as the market resumed its recent upward trend after absorbing a bout of profit-taking, dealers said.
January ended up $13 at $1,608 a tonne as the market rebounded from an earlier low of $1,574. A bout of profit-taking has seen prices dip more than $60 after the second month climbed to a 7-1/2 year high of $1,636 on Tuesday.
"It is speculative buying (driving prices higher again)," one dealer said, adding renewed strength in New York arabica futures had helped to fuel buying in London.
COCOA FIRMER: London cocoa futures closed higher on follow-through speculative short covering on Wednesday, propelled by US futures, traders said.
December settled up 5 pounds at 852 pounds a tonne after touching 860 pounds, its highest in nearly seven weeks. Total volume was 14,770 lots. "There was been more spec buying and short covering," one trader said. "It is follow-through buying from yesterday."

Copyright Reuters, 2006

Comments

Comments are closed.