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Europe
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Dollar Power From Freddie/Fannie Bad for Commodities
By Reuters
09/09/2008 11:32:54 AM ET
NEW YORK (Reuters)—Investors, ready to hammer commodities down after driving them to record highs just months ago, may find more inspiration for their pessimism after the bailout of U.S.
Analysis: Zinc Prices to Slide Further on Oversupply
By Reuters
09/02/2008 11:18:04 AM ET
LONDON (Reuters)—With sliding zinc prices taking their toll on miners, they can be forgiven for asking when the market will turn upwards—not any time soon, according to market experts.
The industry has seen mine closures and output cuts as energy, labor and equipment costs rise while zinc prices drop.
JPMorgan Sees Multi-Year Cycle for Commodities
By Reuters
08/27/2008 1:40:23 PM ET
LONDON (Reuters)—Financial distress has slashed the value of many natural resource stocks, but a lot of the underlying assets remain solid and the outlook for commodities is positive, a fund manager said on Wednesday [Aug. 27].
Gold to Scale New Peaks as Mining Costs Grow
By Reuters
08/27/2008 12:54:34 PM ET
LONDON (Reuters)—Gold prices are likely to scale new peaks as market fundamentals tighten because producers need at least a 20% rise in bullion prices just to make new investment viable, a leading fund manager said on Wednesday [Aug. 27].
Fund Says U.S. Laws to Curb Speculation Won't Work
By Reuters
08/21/2008 3:07:13 PM ET
LONDON (Reuters)—U.S. legislation aimed at reining in speculation is unlikely to work because commodity futures do not drive physical markets, which are constrained by capacity limits, a fund manager said on Thursday [Aug.
Goldman Reiterates $149 Per Barrel End-2008 Oil Forecast
By Reuters
08/20/2008 12:42:50 PM ET
LONDON (Reuters)—Goldman Sachs reiterated on Wednesday [Aug. 20] its year-end price forecast of $149 a barrel for U.S. crude oil, and said strong fundamentals were a more important factor than a strengthening dollar.
Managed Futures and Derivatives Exchanges Roundup
By Michael S. Fischer, Senior Financial Correspondent
08/14/2008 2:20:24 PM ET
New Stakeholders Enhance Dubai Merc's Stature
DUBAI, United Arab Emirates (HedgeWorld.com)—The Dubai Mercantile Exchange Ltd. got a boost in its effort to become a major player in the global crude oil market this week, when it announced that Goldman Sachs, Morgan Stanley and four energy-related companies had taken minority stakes in the exchange.
ETF Securities' Short Crude Oil, Physical Gold Surge
By Michael S. Fischer, Senior Financial Correspondent
08/12/2008 1:38:10 PM ET
LONDON (HedgeWorld.com)—ETF Securities Ltd.'s Short Crude Oil fund was the most heavily traded exchange-traded fund or commodity on the London Stock Exchange for the week ended Aug.
Commodity Indexes Tumbled in July
By Michael S. Fischer, Senior Financial Correspondent
08/11/2008 2:39:44 PM ET
NEW YORK (HedgeWorld.com)—In its monthly Commodity Index Monitor, JPMorgan Chase & Co. reported a heavy selloff in commodity indexes for July.
The JPMorgan Commodity Curve Index finished the month down 11.
Diversified Traders Hit a Bump in July
By Michael S. Fischer, Senior Financial Correspondent
08/08/2008 2:54:06 PM ET
FAIRFIELD, Iowa (HedgeWorld.com)—Commodity trading advisors got roughed up in July. With two-thirds of constituents reporting performance, the Barclay CTA Index finished down 2%.
Managed Futures and Derivatives Exchange Roundup
By Michael S. Fischer, Senior Financial Correspondent
08/07/2008 3:51:29 PM ET
Indian FX Hedgers Get Currency Futures Contract
NEW YORK (HedgeWorld.com)—The Reserve Bank of India announced this week that it will introduce currency futures in an effort to develop the country's derivatives market and expand the number of foreign exchange hedging tools available to residents.
ETF Securities Offers First Sharia-Compliant ETCs
By Michael S. Fischer, Senior Financial Correspondent
08/06/2008 3:38:45 PM ET
LONDON (HedgeWorld.com)—ETF Securities Ltd. announced this week that its physically backed precious metals exchange-traded commodities are now consistent with Islamic principles, or sharia-compliant.
Investors Remained Nervous Last Week
By Michael S. Fischer, Senior Financial Correspondent
08/01/2008 2:57:18 PM ET
LONDON (HedgeWorld.com)—Investors in ETF Securities' exchange-traded commodities continued to look for safe haven assets last week.
For the week ended July 25, investors added $30 million in ETFS Physical Gold.
Pensions to Trim Commodities Exposure, For Now
By Reuters
07/30/2008 9:45:06 AM ET
LONDON (Reuters)—Tumbling stock markets could push pension funds to scale back commodity exposure as well, in order to balance their portfolios, but in the longer term equity losses could see them return in larger numbers.
Fund managers say more money invested in commodities could promote stability and attract other investors who have shunned the sector, notorious for its wild price swings.
Kuwait ETF Attracts Opening $30 Million
By Bill McIntosh, Senior Financial Correspondent
07/29/2008 3:41:45 PM ET
LONDON (HedgeWorld.com)—For hedge funds, ranging from global macro to emerging market long/short equity and funds of funds, generating exposure to new markets and offsetting correlation to developed markets has been given a spur by the launch of a new open-ended Kuwait exchange-traded fund, which began trading on Tuesday [July 29] with allocations of $30 million.
Armajaro to Launch Sugar Fund
By Bill McIntosh, Senior Financial Correspondent
07/28/2008 3:06:30 PM ET
LONDON (HedgeWorld.com)—Armajaro Asset Management LLP is to launch a third specialist commodity fund on Sept. 1 to target sugar in partnership with Czarnikow Group, a leading provider of market services for the sweetener.
Cantab Capital Leverages Connection with Cambridge University
By Michael S. Fischer, Senior Financial Correspondent
07/28/2008 1:06:38 PM ET
CAMBRIDGE, United Kingdom (HedgeWorld.com)—Cantab Capital Partners, whose flagship Quantitative Fund started trading in March 2007, sources many of its ideas and techniques through its connections with Cambridge University.
Hedge Funds Sell Oil as Ratio to Gold Narrows
By Reuters
07/28/2008 1:01:45 PM ET
LONDON (Reuters)—The tumble in the price of oil over the past few weeks may have been exacerbated by hedge funds deciding that it was just too expensive, particularly in relation to gold.
While much of the fall has been put down to an assumption that demand will fall with the slowdown in leading economies, hedge fund specialists say there are also less fundamental reasons behind the move.
CFTC Rolls Out Energy Manipulation Charges
By Jacob Bunge, Financial Correspondent
07/24/2008 6:06:31 PM ET
WASHINGTON (HedgeWorld.com)—The Commodity Futures Trading Commission on Thursday [July 24] announced it was filing charges against derivatives trading firm Optiver Holding BV for allegedly manipulating the price of crude oil, heating oil and gasoline contracts on the New York Mercantile Exchange.
Long Oil, Gold Topped Investors' Buying Last Week
By Michael S. Fischer, Senior Financial Correspondent
07/24/2008 3:47:26 PM ET
LONDON (HedgeWorld.com)—The sharp drop in oil prices last week had some interesting repercussions in ETF Securities' oil products.
Inflows into long oil exchange-traded commodities continued robust during the week ended July 18, with ETFS Brent taking in nearly $20 million and other long energy-related ETCs receiving another $10 million or so.
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