Stock | - Part 5

Ghana Companies Sell Shares at Record Rate Amid Debt Squeeze

ACCRA, Ghana, Capital Markets in Africa: Ghanaian companies needing cash are caught in a dilemma. Faced with borrowing costs at a 13-year high, companies including the local unit of Diageo Plc and Ghana Oil Co. are turning to the stock market to raise record amounts of capital as they try to reduce debt. They could hardly have chosen a worse time. The West African nation’s benchmark stock index is in a bear market, having fallen to a three-year low as a plunge…

Emerging Stocks Rise Sixth Day on Mounting Stimulus Speculation

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LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks headed for their longest winning streak since April and currencies rose to the strongest against the dollar in almost a year as optimism over prospects for stimulus in major economies boosted demand for riskier assets. Energy stocks led the MSCI Emerging Markets Index to a sixth consecutive gain as oil prices climbed. Turkey’s equity benchmark increased to the highest in two months. A gauge of mainland Chinese companies traded in Hong…

Emerging Markets Head for Best Month Since March on Stimulus Bet

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LAGOS, Nigeria, Capital Markets in Africa: Emerging markets rose for a third day, pushing stocks and currencies toward their biggest monthly gains since March, as central banks signaled readiness to quell turmoil after the U.K.’s vote to leave the European Union. Equities took back almost all the losses posted in the wake of Britain’s referendum as central bankers from Asia to Europe said they have tools to respond to the fallout. Federal Reserve Bank of St. Louis President…

Oil Halts Gain Near $49 Before U.S. Stockpile Data, Brexit Vote

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LAGOS, Nigeria, Capital Markets in Africa: Oil halted gains near $49 a barrel as markets awaited weekly U.S. stockpile data, while the U.K. referendum on membership of the European Union remained too close to call. Futures slid as much as 1 percent in New York. U.S. inventories probably fell by 1.5 million barrels last week, keeping them more than 100 million barrels above the five-year average, according to a Bloomberg survey before government data Wednesday. Separate polls showed leads…

Emerging-Market Assets Rally on Signs Britain to Remain in EU

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LAGOS, Nigeria, Capital Markets in Africa: Emerging-market assets rose for a second day on signs the campaign for the U.K. to stay in the European Union was gaining momentum. South Africa’s rand led a rally in developing currencies after a poll showed the campaign for the U.K. to remain leading by three percentage points before the referendum on Thursday. Stocks from Sao Paulo to Moscow advanced as Brent crude sold for more than $50 a barrel. Nigeria’s currency plunged after…

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

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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 Markets Climb for Fifth Day on Higher Oil, China Data

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks rose for a fifth day with currencies as crude oil extended gains above $50 a barrel and Chinese trade data bolstered confidence the world’s second-biggest economy was stabilizing. Equity valuations rose to a one-year high as commodity producers led shares to the longest winning streak in two months. South Africa’s rand, Brazil’s real and Russia’s ruble helped lift a gauge of currencies to a one-month high. Chinese stocks in Hong Kong…

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