Nordic forwards are gaining ground on Wednesday morning on generally drier weather forecasts but an "excessively” optimistic market sentiment, according to traders.
The Q4 11 contract was last seen up EUR 0.65 day on day at EUR 51.80/MWh, while the 2012 contract had increased by EUR 0.25 to EUR 47.95/MWh.
"The market sentiment is very upbeat for some reason, everybody is in a positive mood, forgetting about the US credit rating downgrade and risks of a Greek sovereign default. Psychology is trumping fundamentals,” a Finnish trader said.
Mittwoch, 31.08.2011, 11:50 Uhr
Redaktion
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