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EU carbon steady in face of interest rate cut move

Posted on 08 November 2013

EU carbon was little changed in nervous trade on Thursday that failed to match gains in other asset classes, which were spurred by a surprise interest rate cut by the European Central Bank.
The front-year EU Allowance closed at 4.80 euros on ICE, a gain of 2 cents but below the week’s ceiling hit on Wednesday of 4.89 euros. The benchmark carbon contract was trading at 4.77 euros before the ECB’s decision to reduce its main refinancing rate to record low of 0.25 percent but rose only slightly amid lower-than-average turnover………………………………………..Full Article: Source


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