Bond | - Part 7

Market Watch | Stocks Slide as Central Banks Fail to Reassure; Yen, Gold Climb

LAGOS, Nigeria, Capital Markets in Africa: Stocks slid with commodities after central banks in the U.S and Japan signaled increased concern about the global economic outlook. Gold and bonds rose on haven demand, while the yen climbed to the highest since 2014. The Stoxx Europe 600 Index fell to a four-month low and U.S. crude retreated for a sixth day in the longest losing streak since February. Bond yields sank to records in Germany, Australia after Japan as Federal Reserve…

Market Watch: Emerging Assets Rally Fourth Day Amid Bull Market in Commodities

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LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks rose for a fourth day with currencies as a surge in commodities boosted the outlook for exporting nations along with signs U.S. interest-rate increases will be gradual. Philippine shares climbed to a one-year high, Korean equities jumped and a gauge of Chinese mainland companies traded in Hong Kong capped its longest winning streak since April 2015. The MSCI Emerging Markets Index was poised for the steepest gain in almost two…

Market Watch | Emerging Assets Decline as Fed Move in June Seen as Possibility

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LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks and currencies fell to two-month lows as Federal Reserve minutes revived the possibility of an interest-rate increase as soon as next month, raising the specter of capital flows out of riskier assets. Raw-material producers led Brazilian equities toward a one-month low. Egyptian stocks posted a weekly loss after an EgyptAir plane went missing with 66 people on board. South African gold mining companies dropped, ending a four-day rally in…

Oil Climbs to Highest Since November as European Shares Retreat

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LAGOS, Nigeria, Capital Markets in Africa: Brent crude rose to a six-month high, leading a rebound in commodities and boosting the ruble and mining companies, as supply disruptions in Nigeria added to production woes. Oil extended last week’s gains as Goldman Sachs Group Inc. increased its price forecast, saying the market had moved into a supply deficit earlier than expected. Precious metals rallied with aluminium and commodity producers climbed, while almost all of the other industry groups in the Stoxx Europe 600…

Market Watch | Emerging Stocks Decline for Fourth

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LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks were set to extend their longest losing streak since August and currencies retreated on concern the pace of global growth remains sluggish. Shares in China posted their worst run of weekly declines in two years on speculation the government will refrain from adding fresh stimulus, while Hungarian shares fell and the forint slid to the lowest level since March after the economy unexpectedly contracted. South Africa’s rand slid more than 1…

IFC Issues First Namibian Bond to Support Local Capital Market

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Windhoek, Namibia, Capital Markets in Africa — International Finance Corporation (IFC), a member of the World Bank Group, has launched the first bond by a non-resident issuer in the Namibian capital markets, raising 180 million Namibia dollars—equivalent to $12 million—for private sector development in the country. The five year bond is named “Namib” after the world’s oldest desert. Namib means “vast space” in the Nama language and gave rise to the name of the country….

JP Morgan to remove Nigeria from government bond index

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LAGOS, Nigeria, Capital Markets in Markets – JP Morgan will remove Nigeria from its Government Bond Index (GBI-EM) by the end of October, the bank said on Tuesday, after warning the government of Africa’s biggest economy that currency controls were making transactions too complicated. The removal will force funds to sell Nigerian bonds, triggering potentially significant capital outflows and raising borrowing costs for the government. Struggling with a plunge in vital oil revenue, Nigeria had imposed…

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