The Editorial Team |

Africa Drilling Lacking Despite Cheap Rigs, Higher Oil Price

LAGOS (Capital Markets in Africa) – A recovery in oil and gas exploration in Africa is yet to happen, despite the best efforts of producing nations to raise prices. Only a dozen rigs were operational in African waters on average over the last year as saving cash remained a priority even for prolific explorers such as Italy’s Eni SpA. The rate of drilling this year is barely a 10th of the activity before the price…

May Seeks Transition Deal as Part of All-in-One Brexit Package

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LONDON (Capital Markets in Africa) – United Kingdom Prime Minister Theresa May wants to bundle talks about the transition period she’s seeking after Brexit into trade negotiations, her spokesman said on Monday. That’s not what businesses want to hear. “Everybody has always been clear that we are looking to wrap all this up in one single go, everything will be agreed at the same time” May’s spokesman James Slack told reporters. “The point of an implementation period is it’s…

Ryanair Pilots Step Up Pressure With Demand to Double Pay Rise

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LONDON (Capital Markets in Africa) – Ryanair Holdings Plc’s pilot uprising shows little signs of abating, with an ad-hoc group demanding that a wage increase turned down by London Stansted crews be doubled and extended across the budget airline’s European bases. The unofficial European Employee Representative Council made the proposal to pilots after cockpit crews at Ryanair’s biggest base rejected the existing offer, according to a document sent to pilots on Sunday and seen by Bloomberg….

United Kingdom Manufacturing Sums Up Interest-Rate Dilemma for the BOE

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LONDON (Capital Markets in Africa) – For a picture book example of the dilemma facing Bank of England policy makers, look no further than the U.K. manufacturing industry. On the downside for the economy, demand and confidence at factories is declining and investment is weakening, according to a survey from the Confederation of British Industry. But, in a sign of a potential squeeze that could intensify price pressures, the percentage of firms operating below capacity is the…

Linde Eases Share Tender Requirements to Get Praxair Deal

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LAGOS (Capital Markets in Africa) – Linde AG, seeking to save a planned $41 billion tie up with Praxair Inc. to create the world’s biggest gases supplier, lowered the number of shares its investors need to tender for the deal to go through, after struggling to reach a previous requirement before a looming deadline. The new minimum threshold of 60 percent has to be reached by Nov. 7, the Munich-based company said in a statement on Monday. The previously-agreed condition was…

HelloFresh Targets $1.8 Billion IPO Valuation Amid Food Wars

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LAGOS (Capital Markets in Africa) – HelloFresh, the meal-kit start-up backed by Rocket Internet SE, is targeting a market valuation of as much as 1.5 billion euros ($1.8 billion) in an initial public offering this week, the company said in a statement Sunday. The company, which sells meal kits in 10 markets and remains unprofitable, set a price range of 9 to 11.50 euros a share. It’s looking to raise 243 million to 311 million euros to…

For Stocks Pumped by Draghi’s Stimulus, The Only Way May Be Down

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LAGOS (Capital Markets in Africa) – Ahead of this week’s European Central Bank meeting, investors mostly see the region’s equities weathering President Mario Draghi’s tapering signals. But in the short term, there are signals aplenty that the shares may be ripe for a pullback, particularly if the euro resumes its rally. Strategists on average now expect the Euro Stoxx 50 to decline by year-end. Here are five charts that indicate overheating in the stock market. Euro-area stocks are no longer…

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