EU Carbon Has Biggest Gain in Six Weeks on Surplus Fix Optimism
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European Union carbon permits had their biggest weekly gain since Sept. 6 after German Chancellor Angela Merkel said she favored a proposal to reduce a surplus of allowances.
EU permits for December fell 1 percent today to 5.13 euros ($7.02) a metric ton on London’s ICE Futures Europe exchange, paring their weekly advance to 11 percent. They reached a two-week high of 5.50 euros a ton on Oct. 16.