EU Market: EUAs lift away from 4-mth low after stronger auction, wider market gains
EUAs briefly topped €24 on Thursday, rebounding from the previous session’s four-month low on a stronger auction and wider market gains, rebuffing widespread concerns over the impact of renewed coronavirus restrictions.
Read MoreEU Market: EUAs drop nearly 5% to new 4-month low as virus fears deepen
EUAs fell to a new four-month low below €23 on Wednesday after buyers struggled to absorb the bumper UK auction and wider financial markets tumbled on worsening coronavirus prospects, as trade data showed a record number of firms – including emitters – holding positions in the EU ETS.
Read MoreEU Market: EUAs pare losses after sliding on another weak auction, wider market jitters
European carbon prices closed higher on Tuesday after trading lower for most of the session following another weak auction result and amid nervousness in wider financial markets.
Read MoreEU Market: EUAs sink back below €24 as virus rates climb
EUA prices tumbled back below €24 on Monday, giving back all of Friday’s 5% surge on another weak auction and technical selling over wider market weakness due to rising coronavirus infection rates.
Read MoreEU Market: EUAs leap 5% to above €25 as rebound continues
EUAs jumped more than 5% to above €25 on Friday, continuing the previous session’s rebound from a four-month low on short-covering and amid bullish signals from the energy complex.
Read MoreEU Market: EUAs rebound on energy boost after flirting with new 4-mth low near €23
European carbon rebounded on Thursday after plumbing a new four-month low near €23, with prices boosted by a solid auction result and gains in the wider energy complex.
Read MoreGermany off track to reach 2030 climate target -environment agency
Germany’s current policies are putting it on course to miss its domestically-binding 2030 emissions reduction target, a report published on Thursday by its national environment agency UBA confirmed.
Read MoreEU environment ministers set sights on a bloc-wide 2040 climate target
The EU’s environment ministers want to establish a firm process for setting a bloc-wide 2040 emissions target under the European Climate Law, aiming to bridge the 2030 and 2050 climate goals.
Read MoreCORRELATIONS: EU carbon moves continue to mimic power while oil, stocks links dissipate
EU carbon prices have maintained their close correlation to German power in recent weeks, while weakening the somewhat tight relationship to crude oil and US stocks observed earlier this year.
Read MoreEU Market: EUAs drop 4% to below €24 on weak auction, more technical selling
EUAs tumbled more than a euro to further deepen their four-month low on Wednesday, as a weak auction clearance followed by technical selling pushed carbon below another key support.
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