Emerging Markets |

Emerging Currencies Climb as Mexican Central Bank Steadies Peso

LONDON (Capital Markets in Africa) – A gauge of emerging-market currencies rose the most in more than three months and stocks indexes jumped as the Federal Reserve signaled a gradual pace of interest rate increases. Mexico’s peso halted a three-day slump after central-bank intervention. Fed’s minutes of its December meeting released on Wednesday showed uncertainty over the impact of President-elect Donald Trump’s policies. Emerging market stocks rallied while gold extended gains to three days and copper rose…

EFG-Hermes Hires Exotix Banker to Lead Frontier Market Expansion

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CAIRO (Capital Markets in Africa) – EFG-Hermes Holding SAE hired former Exotix Partners LLP banker Ali Khalpey to head its frontier division as it seeks to expand into new markets. The Cairo-based investment bank named Khalpey as chief executive officer of EFG-Hermes Frontier that will focus on securities brokerage, investment banking and research, the lender said in an e-mailed statement on Tuesday. Khalpey previously worked for Exotix Africa LLP, Blackrock Inc., Investec and Renaissance Capital LLC, it said. With growth in…

South Africa’s Rand Shows a Little Local Strife Can’t Derail Emerging Gains

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JOHANNESBURG, Capital Markets in Africa: For evidence that fundamentals hardly matter in today’s world of easy money, look no further than the rand. In a quarter marked by a political feud between South Africa’s president and his finance minister, stagnant growth and mounting concern that the country may lose its investment-level credit status, the rand returned 11 percent for investors selling the dollar to chase higher yields — more than twice as much as its next-best peer….

Indian Summer Comes to Emerging Markets as Fed Spurs Fresh Gains

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LAGOS, Capital Markets in Africa: The Federal Reserve has given fresh impetus to emerging markets. As Russia joined Argentina in announcing Eurobond sales, stocks from Istanbul to Johannesburg rallied at least 1.6 percent, South Africa’s rand extended its longest winning streak since 2013 and Standard Chartered Plc recommended buying the lira, this quarter’s worst-performing major currency outside of Latin America. Pledges to keep monetary policy accommodative from the Fed and Bank of Japan this week have emboldened the…

Emerging Markets Bounce Back as Fed Seen Holding Rates Steady

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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…

Messiest Politics the Best, Emerging-Market Money Manager Says

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LAGOS, Capital Markets in Africa: Developing countries experiencing the deepest political turmoil shouldn’t deter investors, because they offer some of the best opportunities, according to the joint head of Old Mutual Investment Group’s emerging-markets unit. “The politics always give us an opportunity,” Siboniso Nxumalo, co-head of Global Emerging Markets at OMIG, told reporters in Johannesburg Wednesday. “The best-performing market in the world this year is Brazil, which had one of the messiest politics. Russia is the second-best…

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