European year-ahead pares weekly losses

摘要

A late rally across the natural gas and power markets and some short covering in the paper coal market lifted European swaps higher in the final session of the week. The market opened lower than the previous close this morning at around $84/t and slipped to an intra-day low of $83.95/t shortly before midday. But the market recovered through the afternoon to settle at $85.30/t, as a bank entered the market to cover a short position, according to one source.