The Editorial Team |

Pound Advances as Rees-Mogg Revives Hopes for May’s Brexit Deal

LONDON (Capital Markets in Africa) – The pound climbed as Brexiteer Jacob Rees-Mogg signaled he could back the U.K. Prime Minister’s deal to leave the European Union, keeping alive the possibility that her plan may eventually pass through Parliament. Sterling reversed earlier declines to lead gains across the Group-of-10 currencies as Rees-Mogg said Theresa May’s deal was “better than not leaving at all.” Rees-Mogg leads an influential grouping of lawmakers, the European Research Group, who have opposed her…

U.S. Construction Slowdown Fears Stoked by Ferguson Outlook

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – Stocks of U.S. construction-industry suppliers declined in London after Ferguson Plc, a wholesaler of heating and plumbing products viewed as a bellwether for the sector, forecast annual profit at the low end of analysts’ estimates. “After a strong revenue performance in the first half, our growth rate has moderated recently in line with conditions in our markets,” the FTSE 100 constituent said in a statement Tuesday. The update reflected a “sharp slowdown”…

Theresa May Loses Control of Brexit Process as Parliament Takes Over

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – The U.K. Parliament seized control of the Brexit process from Prime Minister Theresa May and will now seek to decide how Britain exits the European Union. In a vote late Monday, the House of Commons split 329 to 302 to schedule votes on a series of alternative strategies, potentially including a second referendum, keeping the U.K. in the bloc’s customs union, leaving without a deal and even canceling Brexit altogether. The pound rose immediately after…

What a Difference a Negative Bund Yield Makes: Taking Stock

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – European stocks have entered their first real consolidation this year after weeks of gains. At the same time, Germany’s 10-year Bund yield retreated and turned negative for the first time since 2016. So we’re here again. Europe’s economic picture has been deteriorating, pushing the yield over the edge, which has big consequences for European shares. As an investor, you have to find yield somewhere, and when government yields are…

What African Central Bankers Will Discuss in the Next 7 Days

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Central bankers in Africa’s largest economies will consider very different conditions when deciding on interest rates over the next seven days than they did two months ago, and will mostly come to the same conclusions. Since the Monetary Policy Committees last met, Ghana’s currency slumped, Nigeria concluded its election, South Africa announced higher-than-expected power-price increases and a Kenyan court set aside a law that caps borrowing costs. All of…

Tanzania to Start Talks for $30 Billion LNG Project in April

Posted on by The Editorial Team

DAR ES SALAAM (Capital Markets in Africa) – Tanzania plans to negotiate terms for developing a $30 billion liquefied natural gas project with companies between April and September, the Energy Ministry said. The talks are aimed at reaching a so-called Host Government Agreement, the pact that governs the rights and obligations of parties with respect to the development, construction and operation of the project. Equinor ASA, one of the companies involved, could sign the accord after the…

Islamist Insurgencies Feed Age-Old West African Conflicts

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Alassane Dicko used to lead his cattle each day through the grasslands of central Mali until gunmen burned down his village and took all his animals. Now he lives on the edge of a landfill in the capital, Bamako. Dicko, 38, is one of hundreds of ethnic Fulanis who fled their homes in recent months because of violent disputes over land and water, pitting herders against crop farmers and…

« 1 … 334 335 336 337 338 … 1,072 »