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CARBON (€/T) THUFRI VAR D-1 VAR W-1AVG.MAXMIN 19/320/3FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202663.65 67.664.01-1.578.4492.2463.65CO2 EUA DEC 202765.92 70.104.18-1.3880.7294.8065.92CO2 EUA DEC 202868.21 72.544.33-1.3783.2597.7368.21CO2 EUA DEC 202970.83 75.204.37-1.4586.16101.0470.83UK ETS DEC 26 EUR 40.13 42.972.84-2.7462.6884.0240.13UK ETS DEC 27 EUR 42.32 45.222.9-2.6265.4487.6142.32UK ETS DEC 28 EUR 44.79 47.692.9-2.6368.5591.4644.79Relief over the EU summit outcome lifted European carbon prices on Friday,with leaders advocating faster reforms to the carbon market, particularly theMarket Stability Reserve, and ruling out a suspension of the system. This drovethe EUAs expiring in Dec-2026 up 6.3% to 67.66 EUR/tonne.CO2 EUAEXCHANGE RATES THUFRIVAR D-1 VAR W-1AVG.MAXMIN 19/320/3FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1489 1.15550.00660.00791.17181.19741.1476RATE EUR/GBP0.8639 0.86440.0005-0.00060.86860.87630.8616RATE GBP/EUR1.1576 1.1569-0.00070.00091.15131.16061.1412The EUR/USD pair edged 0.6% higher at 1.1555, reflecting easing safe-havendemand amid better market sentiment.The EUR/GBP rate held at 0.8644 after the ECB and BoE left rates unchangedat 2% and 3.75% on Thursday, citing inflation risks from rising oil and energyprices amid US-Israel-Iran tensions. Markets now fully price an ECB hike byJuly and more than two BoE hikes this year, with around a 50% chance of anApril BoE move.