Stock | - Part 4

Emerging Markets Advance as Fed Optimism Sparks Dollar Weakness

JOHANNESBURG, Capital Markets in Africa: Emerging-market currencies and bonds rallied as traders pushed back forecasts for when the Federal Reserve will increase U.S. interest rates, bolstering demand for higher-yielding assets. Most developing-nation currencies trading on Wednesday strengthened against the dollar, led by the South Korean won, Malaysian ringgit and South African rand. Russia’s ruble fell as oil declined for a second day, while the yuan strengthened the most in almost two weeks. Government bonds rallied, with Polish and…

Emerging Assets Halt Five-Day Gain as Oil Falls, Ringgit Weakens

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Emerging-market assets halted a five-day gain as a slide in oil prices sapped demand for higher-yielding assets. A gauge of developing-nation shares dropped from the highest level in a year, led by losses in Slovenia, Estonia and the Philippines. Malaysia’s ringgit fell the most among emerging-nation currencies as the country derives 20 percent of its revenue from energy-related sources. The Korean won weakened as the central bank governor said there was still room to…

Emerging Markets Rally to One-Year Highs on Stimulus Prospects

Posted on by The Editorial Team

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

Posted on by The Editorial Team

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…

Egypt Stocks Rise Most in World as Bonds Rally on IMF Loan Talks

Posted on by The Editorial Team

CAIRO, Egypt, Capital Markets in Africa: Egyptian stocks and bonds rallied after the government said it’s negotiating with the International Monetary Fund for a loan to help revive its battered economy. The EGX 30 Index advanced 4.7 percent to 7,894.03 at 11:08 a.m. in Cairo, the biggest gain among more than 90 gauges tracked by Bloomberg globally. Commercial International Bank Egypt was the largest contributor to the jump, climbing 6.8 percent, the most on a closing basis since…

Market Watch: Emerging-Market Stocks Advance With Volatility at 11-Year Low

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LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks rose toward the highest level since China’s currency devaluation last year, while volatility fell to an 11-year low, on optimism earnings are improving and central banks remain supportive of growth. Egyptian stocks rallied the most in the world after the government said it’s nearing the final stages of talks for an International Monetary Fund loan. Turkey’s benchmark index headed for a one-week high, rising with the country’s bonds and currency,…

Market Watch | Emerging-Market Currency Price Swings Widen as Lira Bounces Back

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: A rebound in the Turkish lira after a failed coup attempt helped boost some developing-nation exchange rates that were hurt by the turmoil as a gauge of emerging-market currency volatility rose from an 11-month low. The lira gained 1.7 percent, following a 4.6 percent plunge on Friday, helping to lift currencies such as South Africa’s rand. The JPMorgan Emerging Market Volatility Index, a gauge of price swings, jumped 1.3 percent from the lowest…

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