Euro Markets: EUAs drop below technical level as UKAs give up last of Monday’s reform-inspired gains

EUA prices extended their losses for a third day amid low-key trading, falling below an important technical level as numerous participants headed to an industry conference, while UKAs gave up the last of Monday's 8.2% jump as the market reaction to news of UK ETS reforms turned bearish, and energy markets fell with renewables output forecast to rise.