The Markets | - Part 231

Commodities Set to Break Into Bull Market After Four-Year Rout

LAGOS, Nigeria, Capital Markets in Africa: The four-year bear market that pushed commodities to the lowest level in a quarter century is coming to end as supply constraints drive a recovery in everything from soybeans to zinc. The Bloomberg Commodity Index, which tracks returns from 22 raw materials, is on track to close more than 20 percent above its low on Jan. 20, meeting the common definition of a bull market. While the index has come close to…

South African Bonds Gain Most in Two Months With Rand on S&P

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: South African bonds gained, driving yields down the most in more than two months, after the country escaped a downgrade that would have left its debt rated so-called junk. Yields on benchmark rand bonds due December 2026 dropped 15 basis points, the most since March 13, to 9.04 percent by 3:23 p.m. in Johannesburg, adding to an 11-point decline on Friday after S&P Global Ratings affirmed South Africa’s…

Commodities Stand on Brink of Bull Market After Oil’s Recovery

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Commodities are approaching a bull market after prices rebounded from the lowest in at least 25 years on a rally in oil, soybeans and zinc. The Bloomberg Commodity Index, which tracks returns from 22 raw materials, climbed 0.7 percent to 87.31 by 8:44 a.m. in New York. A close above 87.45 would mark a 20 percent advance, meeting the common definition of a bull market. Prices briefly surpassed that level today….

Market Watch: Emerging Stocks Climb to Four-Week High as Turkish Bonds Advance

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks headed for its highest close in four weeks as rising oil prices bolstered optimism the global economy is strong enough to withstand an U.S. interest-rate increase. Turkish bonds rallied after core inflation fell the most in more than a year. The MSCI Emerging Markets Index capped a 0.4 percent advance for the week after Brent crude closed above $50 a barrel and OPEC ministers said global oil markets…

Nigeria Said to Plan Bond Investor Meetings in London Next Week

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Nigerian officials are meeting bond investors in London next week, according to a person familiar with the matter, as the government considers tapping international debt markets to help finance its record budget deficit. Finance Minister Kemi Adeosun will head the meetings on June 7, which have been arranged by Standard Chartered Plc, according to the person, who asked not to be identified because he’s not authorized to comment publicly. Abraham Nwankwo, head of…

Crude Oil | OPEC Ministers Say Oil Market Moving in Right Direction

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: OPEC ministers gathering in Vienna for the group’s biannual meeting said the oil market is moving in the right direction as a supply glut dissipates. While Saudi Arabia — the architect of the Organization of Petroleum Exporting Countries’ current policy — remained silent, ministers from the United Arab Emirates and Nigeria signalled that the strategy of letting low prices eradicate surplus production is working. Some of the world’s biggest oil traders…

Buhari Gives Nigeria Central Bank Go-Ahead on Flexible Naira

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Faced with an economy nearing recession and inflation at the highest in almost six years, Nigerian President Muhammadu Buhari has backed down on his refusal to allow the naira to weaken. Buhari has given the central bank the go-ahead to introduce a more flexible exchange-rate system even as he remains opposed to devaluation of the naira, said Garba Shehu, his spokesman. “The president is opposed to devaluing the naira, he has said…

« 1 … 229 230 231 232 233 … 261 »