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EU carbon prices recover, close above 16 euros

Wed, 05/05/2010 - 9:27am
Reuters

LONDON (Reuters) - European carbon prices clawed back from being down nearly 3 percent early on Wednesday to close back above 16 euros a tonne after energy and equity markets staged a late day recovery, traders said.

EU Allowances for delivery in December closed at 16.03 euros a tonne, up 11 cents or 0.7 percent, on heavy volume of 24,088 lots traded.

The benchmark futures had dropped as low as 15.50 euros a tonne shortly after 0800 GMT, as traders said lower German power prices and worries about the euro spooked the market.

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