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EUA prices gain 3%

Prices of EU carbon allowances (EUAs) for December delivery gained 3% today on colder weather in Europe.

The EUA futures contract for December 2012 delivery finished up 25 cents (3%) at € 8.71 on ICE Futures Europe in London after reaching € 8.85 in afternoon trade, the highest level since December 21 when it hit € 9.10.

EUA prices made gains on colder weather in Europe which pushed German power and UK natural gas prices higher.

Meanwhile, oil prices also headed north on publication of strong manufacturing data from the U.S., China, and Germany.

Carbon rose for the third consecutive day, gaining around 12% from Monday’s close.

The CER futures contract for December 2012 delivery finished up 20 cents (4.9%) at € 4.27 in London.

On BlueNext in Paris, the EUA spot contract ended up 30 cents (3.6%) at € 8.55.

Source: ICE Futures Europe, BlueNext, EEX, Reuters