EU Carbon Trades Sideways

12 October 2009 (Last Updated October 12th, 2009 18:30)

Prices for European Union carbon emissions futures lack direction after gaining 4% in the previous session, as prices hovered around €14.30, according to traders. EU Allowances (EUAs) inched up by 1 cent or 0.07% at €14.29 ($21.12) a ton at 06.52 GMT, with light volume at 456 lots trade

Prices for European Union carbon emissions futures lack direction after gaining 4% in the previous session, as prices hovered around €14.30, according to traders.

EU Allowances (EUAs) inched up by 1 cent or 0.07% at €14.29 ($21.12) a ton at 06.52 GMT, with light volume at 456 lots traded, according to Reuters reports.

EUAs drifted down to €14.12 a ton in opening trade as some investors took the opportunity to make money from gains at the start of the week.

Prices quickly rose to an intra-day high of 14.35 in the first hour of trade before easing again.