Market Watch | - Part 28

U.A.E. Warns OPEC Against Any Hasty Decision on Oil in Algiers

ALGIERS, Capital Markets in Africa: OPEC must find a “sustainable” way to stabilize oil markets in any agreement its members may reach when they meet next week in Algeria, the United Arab Emirates’ energy minister said. The group’s 14 members may discuss proposals to limit production in an attempt to shore up crude prices at talks planned on Sept. 28. Oil-producing countries previously considered freezing output to counter a global supply glut that cut prices…

Emerging-Market Volatility Near Brexit Level Before Fed, BoJ

Posted on by The Editorial Team

LAGOS, Capital Markets in Africa: Volatility in emerging markets hovered near the highest level since June as traders awaited verdicts on monetary policy from the Federal Reserve and the Bank of Japan. The MSCI Emerging Markets Index rose 0.1 percent to 898.61 as of 10:37 a.m. in New York after falling as much as 0.1 percent. Equity benchmarks in the Philippines and Qatar gained at least 1 percent, while measures in Russia, Turkey and India retreated. South…

Bidvest, Life Healthcare Rise After JSE Top40 Index Inclusion

Posted on by The Editorial Team

JOHANNESBURG, Capital Markets in Africa: Bidvest Group Ltd. and Life Healthcare Group Holdings Ltd. gained for the first time in three days in Johannesburg trading after the companies were added to the stock exchange’s Top40 index. Bidvest, the diversified South African industrial group, advanced as much as 1.4 percent to 152.59, while hospital operator Life Healthcare climbed 1.1 percent to 38.15 rand. The companies and Sibanye Gold Ltd. and Gold Fields Ltd. joined the FTSE/JSE Top40 Tradeable Index…

Emerging Markets Bounce Back as Fed Seen Holding Rates Steady

Posted on by The Editorial Team

LAGOS, Capital Markets in Africa: Emerging-market stocks rebounded from their biggest weekly drop in four months as optimism that the Federal Reserve will delay raising U.S. interest rates rekindled risk demand. Taiwan’s benchmark equity index jumped the most in a year on speculation demand for Apple Inc.’s latest iPhone model will boost earnings for the island’s suppliers. Hungarian bonds rose for a second day as S&P Global Ratings upgraded the country to investment grade. Russia’s ruble and…

Egypt expects 2-3 IPOs in first year of privatisation plan

Posted on by The Editorial Team

CAIRO, Capital Markets in Africa: Egypt expects to privatise two or three state-owned companies via listings on the stock exchange in the first year of a privatisation programme, the chief executive of government-owned NI Capital said on Monday. The programme will last for three to five years and will start with state-owned oil companies but will also include state-owned banks, said Ashraf El-Ghazaly. NI Capital is a government-owned, privately managed financial institution that is part…

Oil Falls to 1-Month Low as Nigeria, Libya Poised to Swell Glut

Posted on by The Editorial Team

LAGOS, Capital Markets in Africa: Oil fell to a one-month low in New York on speculation that the resumption of shipments from Libya and Nigeria may add to the global surplus. Futures dropped as much as 2.7 percent on the New York Mercantile Exchange. Libya and Nigeria, whose supplies have been reduced by domestic conflicts, are preparing to boost exports within weeks. A tanker that’s supposed to collect crude from a key Libyan terminal for the first time in…

Oil Glut Set to Worsen as Nigeria and Libya Fields Restart

Posted on by The Editorial Team

LAGOS, Capital Markets in Africa: Amid the most enduring global oil glut in decades, two OPEC crude producers whose supplies have been crushed by domestic conflicts are preparing to add hundreds of thousands of barrels to world markets within weeks. Libya’s state oil company on Wednesday lifted curbs on crude sales from the ports of Ras Lanuf, Es Sider and Zueitina, potentially unlocking 300,000 barrels a day of supply. In Nigeria, Exxon Mobil Corp. was…

« 1 … 26 27 28 29 30 … 201 »