Commodities |

Goldman Hails Global Rebound as Currie Sees Commodity Demand

LONDON (Capital Markets in Africa) – Commodities will be supported in the months ahead by a global rebound spanning the U.S., Europe, and China that’s buttressing worldwide demand for raw materials, according to Goldman Sachs Group Inc. “We’re seeing a cyclical uptick in global economic activity and that’s driving demand, not only for oil but all commodities,” Jeffrey Currie, head of commodities research, said in Hong Kong on Tuesday. “That’s the core reason why we upgraded our outlook…

Barclays Flags ‘Black Swan Threats’ to Commodities in 2017

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LONDON (Capital Markets in Africa) – Watch out for the unexpected in commodities in 2017. Barclays Plc said raw materials markets from energy to metals face the high likelihood of disruptions, giving a laundry list of possible threats including a default by Venezuela, riots in Chile and a trade war with China. “The new politics of populism and protectionist trade policies have the potential to disrupt global supply and demand assumptions for various commodities,” analysts including Michael Cohen and…

Emerging Assets Resume Rally on Fed as Samsung Surges to Record

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LAGOS, Capital Markets in Africa: Emerging-market currencies rebounded and a gauge of stocks rose to a one-year high as Federal Reserve minutes tempered speculation U.S. interest rates will rise this year, spurring demand for riskier assets. South Africa’s rand led currencies higher as Russia’s ruble and Malaysia’s ringgit gained with crude oil. South Korea’s won rose after its worst one-day loss in almost two months. Equities from Indonesia, Thailand to Turkey and India gained. Tencent Holdings Ltd….

Emerging Markets Rally to One-Year Highs on Stimulus Prospects

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LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks and currencies rose to their highest levels in more than a year as prospects for central bank stimulus and a better-than-expected U.S. jobs report fueled demand for higher-yielding assets. Turkish bonds rallied and the lira strengthened after Moody’s Investor Service delayed a potential sovereign downgrade. South Korean stocks rallied after S&P Global Ratings raised the country’ credit ranking. Russia’s ruble rose for a fifth day as oil sold for more than…

Market Watch | Emerging Assets Set for Highest Close in a Year on Oil, Stimulus

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LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks and currencies headed for their highest close in a year as a recovery in oil prices and optimism central banks will keep monetary policy accommodative boosted demand for higher-yielding assets. A gauge of developing-market shares was poised for a fourth weekly gain, the longest winning streak since October, after a Bank of England interest-rate cut eased concern the U.K.’s decision to exit the European Union will slow global growth. Malaysia’s ringgit led…

Goldman Upgrades Commodity Outlook on Constrained Oil Supplies

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LAGOS, Nigeria, Capital Markets in Africa: Goldman Sachs Group Inc. upgraded its outlook for commodities for the next three months because of disruptions to oil supply, while staying bearish on industrial metals and gold. Supply constraints should support oil prices, but “physical re-balancing” is incomplete and Goldman remains neutral on commodities for the next 12 months, it said in a report e-mailed Wednesday. The bank is recommending investors buy oil and gas assets in equities and…

How to ensure Africa’s natural wealth stays in Africa

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Abidjan, Cote D’Ivoire (Capital Markets in Africa):- With mineral prices plummeting 60 % from peak highs in 2011, turning Africa’s extractive industries, which include renewable resources, into lasting profits is a primary concern for the continent’s 54 nations. According to Ministers of Trade and Mining as well as experts in the fields, transparency and diversification of economies are the best ways to make sure that happens. “We are in the process of reviewing all mining…

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