Euronext N.V. (EUXTF)
- Reuters
Euronext wheat eases after rally but still posts weekly gain
Euronext wheat eased on Friday after a three-day rally but still posted its first weekly gain in a month as traders set competition from cheaper Black Sea supplies against risks from the ongoing war in Ukraine. March wheat on Paris-based Euronext settled 1% lower at 286 euros ($310.74) a tonne, showing a slight 0.4% rise over the week. The contract had slipped to an 11-month low on Monday before rebounding as traders saw the market as technically oversold while news headlines drew attention back to the conflict in the Black Sea zone.
- Reuters
Paris wheat hits 11-month low on strong euro and Black Sea competition
Euronext wheat futures slid to an 11-month low on Monday, extending losses from last week as a firm euro and competition from the Black Sea region again weighed on prices. March wheat, the most active contract on Paris-based Euronext, was down by 4.75 euros, or 1.6%, at 280.00 euros ($304.02) a tonne at 1701 GMT. The euro earlier reached a nine-month peak against the dollar, highlighting export competition as cheaper Russian and Ukrainian grain supplies continued to flow despite the two nations' 11-month war.
- Reuters
Euronext to switch derivatives clearing to Italy in 2024
Pan-European stock exchange Euronext will shift clearing of derivatives trading to its new clearing arm in Italy by the third quarter of next year, it said on Monday, to compete directly with London Stock Exchange Group and Cboe. Euronext currently clears its derivatives transactions at LCH SA, owned by London Stock Exchange Group (LSEG), but wants to build up its own in-house clearing operation, in tune with European Union efforts to deepen the bloc's capital market after Brexit.
