EMEA > Euro Markets: Heavy afternoon sell-off trims early gains on short-covering after strong auction

Euro Markets: Heavy afternoon sell-off trims early gains on short-covering after strong auction

Published 17:18 on February 28, 2024  /  Last updated at 17:49 on February 28, 2024  / Alessandro Vitelli /  EMEA, EU ETS, UK ETS

EU carbon allowance prices rose to a nine-day high in very heavy trading after the strongest auction result in six weeks triggered further short-covering by speculative traders, before a late and steep sell-off trimmed the gains, while the weekly position data showed investors had boosted their bearish bets to a new record.
EU carbon allowance prices rose to a nine-day high in very heavy trading after the strongest auction result in six weeks triggered further short-covering by speculative traders, before a late and steep sell-off trimmed the gains, while the weekly position data showed investors had boosted their bearish bets to a new record.


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