The Editorial Team |

U.S. Futures Turn Higher as Trader Nerves Settle: Markets Wrap

LAGOS (Capital Markets in Africa) – Futures on the benchmark U.S. stock gauge turned positive on Wednesday, recovering from a plunge after Iranian missiles struck two American military bases in Iraq. Gold, Treasuries, and oil pared earlier out-sized gains as Iran stressed it didn’t seek war. Contracts on the S&P 500 erased all losses through the European morning to trade in the green after Donald Trump declared “so far so good” regarding an early damage…

Oil Rally Cools as Iranian Strike on U.S. Bases Seen as Limited

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LAGOS (Capital Markets in Africa) – Oil cooled off after rallying on Iranian airstrikes against U.S.-Iraqi military bases, amid speculation that Tehran is opting for limited retaliation over the killing of a top general. Futures in London initially surged more than 5% as the Islamic Revolutionary Guard Corps claimed responsibility for the missile strikes in Iraq, and held some gains on the concern of further escalation in the oil-rich region. Yet prices eased after U.S. President…

Global Leaders Urge Restraint After Iran Retaliates Against U.S.

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LAGOS (Capital Markets in Africa) – World leaders urged restraint and moved to recall their citizens after Iran fired missiles at U.S.-Iraqi airbases in its first counterattack since the killing of General Qassem Soleimani by American forces. From Asia to the Americas, worries mounted about an armed conflict spinning out of control, as the tensions roiled global markets. The response showed just how little appetite there was among U.S. allies for another outright war in the vital energy-producing region….

PM Boris Johnson to Tell Von Der Leyen He Wants a Quick Free Trade Deal

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LONDON (Capital Markets in Africa) – The United Kingdom Prime Minister Boris Johnson will tell European Union Commission President Ursula von der Leyen on Wednesday that the British government is only interested in negotiating a free trade agreement with its largest market, and that he’s determined to achieve it by the end of the year. In their first meeting since von der Leyen took up her post — and since Johnson won last month’s election — the U.K. prime minister…

Brexit-Bound U.K. Puts Gilts in Jeopardy in Fiscal-Stimulus Test

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LAGOS (Capital Markets in Africa) – A ripple of negative reaction across U.K. government bonds may be a taste of what’s to come as the country heads for one of Europe’s first major tests of fiscal stimulus. The policy, long-advocated by central banks, could emerge in the first finance bill to be presented in Westminster after Brexit, on March 11. Prime Minister Boris Johnson’s budget may focus global attention on the potential for expanded government spending…

Barclays Is First European Bank to Face Vote on Climate Change

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LAGOS (Capital Markets in Africa) – A group of Barclays Plc shareholders has filed what they say is the first climate change resolution at a European bank, taking aim at the lender’s support of fossil fuels. Eleven institutional investors and more than 100 individuals urged Barclays to say how it will phase out financing energy firms that don’t align with the Paris Agreement climate goals, according to a statement from U.K. non-profit ShareAction, which coordinated the…

Bank of England Governor Mark Carney Says Central Banks Are Nearing Policy Limits

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LAGOS (Capital Markets in Africa) – Outgoing Bank of England Governor Mark Carney said central banks globally are getting close to running out of tools should they need to tackle another serious economic downturn. “It’s generally true that there’s much less ammunition for all the major central banks than they previously had, and I’m of the opinion that this situation will persist for some time,” he said in an interview with the Financial Times to…

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