“Our commodity team’s 2015 nickel forecast of $US24,125 per tonne remains realistic, we believe”. “Crude prices appear to have stabilised,” said Michael Wittner, oil analyst at French bank Societe Generale. “However, there are significant factors that will prevent a near-term price recovery,” he added. “Exports of Libyan light sweet crude are growing, and increasing volumes of crude are being placed in storage, which will maintain downward pressure”.
Macquarie Group’s banking and financial services team is the frontrunner to acquire ING Direct’s non-branded mortgage book, sources have told The AFR‘s Street Talk column. “There are many reasons to continue selling the euro,” said Lutz Karpowitz, currency strategist at Commerzbank. “First of all, the escalating situation in Ukraine, which might lead to further sanctions, thus increasing the risk of the euro zone economy being affected by the crisis.
Local shares appear set for a flat open as concerns about the situation in eastern Ukraine offset bets that the European Central Bank would agree on new measures this week to bolster growth. • AUD at 93. 30 US cents, 97. 33 Japanese yen, 71. 07 Euro cents and 56. 19 British pence. • In Europe, Euro Stoxx 50 +0. 1%, FTSE +0. 1%, CAC -0. 03%, DAX +0. • Iron ore slips 0. 9% to $US87. • Brent oil down 0. 4% to $US102.
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