Bloomberg Emerging-market stocks and currencies advanced for a fourth day as narrowing Chinese factory deflation signaled the world’s second-largest economy is stabilizing. Indian bonds rallied after the central bank said it’s keeping accommodative policy. Raw-material producers touched a 13-month high paced by South Korean steelmaker Posco, while stocks in the Philippines rose for a second day. Data out of …
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Emerging markets race to year highs on stimulus prospects
Bloomberg Emerging-market stocks and currencies headed for the highest close 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 assets gained 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 …
Read More »Treasuries rally, pound drops on BOE as stocks mixed before jobs
Bloomberg Treasuries joined a rally in global bonds and the pound slid against its major peers as the Bank of England cut its key rate for the first time in more than seven years. U.S. stocks and the dollar traded in tight ranges as investors awaited Friday’s job report. Sovereign debt from the UK to Germany and American advanced …
Read More »Stocks fluctuate as crude rebounds to $40; emerging assets drop
Bloomberg US stocks fluctuated near an all-time high, while a rebound in crude oil lifted energy producers and gold snapped its longest rally in six weeks. The rally in global bonds faltered. The S&P 500 Index swung between gains and losses as retailers stumbled a second day on lackluster quarterly results. Crude rose past $40 a barrel after U.S. …
Read More »Egypt closes at 1- high on IMF hopes, Gulf sags
DUBAI / Reuters Egypt’s stock market closed at a one-year high on Wednesday on optimism among local investors that a loan deal with the International Monetary Fund would boost the economy, while weak oil prices and global bourses pushed Gulf bourses down further. Cairo’s main index jumped 1.6 percent to a one-year high of 8,105 points in rising turnover, …
Read More »DGCX volumes shine amidst market turmoil
DUBAI / WAM Volumes on the Dubai Gold and Commodities Exchange (DGCX) crossed over 11 million contracts this year, growing 49% from last year. The overall volumes in July 2016 touched 1,674,268 contracts, registering a massive year-on-year increase of 47%, driven largely by elevated trade volumes across precious metals, currencies, equities and hydrocarbon segments. The exchange also recorded the …
Read More »Emerging market stocks fall from one-year high
Bloomberg Emerging-market stocks retreated from their highest level in a year as oil’s descent into a bear market weighed on energy producers and investors assessed the outlook for the global economy. Shares in Russia and the oil-exporting Gulf region led losses as oil traded near $40 a barrel in New York after tumbling to the lowest close since April …
Read More »European stocks mostly dip; Italian banks suffer
London / AFP European stock markets mostly fell on Monday on poor post-Brexit manufacturing data, with Italy rocked also by stress tests which sparked fresh questions over the health of its troubled banks. London slid 0.4 percent as a survey showed Britain’s manufacturing industry has slumped to its lowest level in more than three years on the back of …
Read More »Russian economy edges near end of recession as contraction eases
Bloomberg Russia’s economy contracted the least since it slipped into recession at the start of last year as industry and farming added to oil’s biggest quarterly gain since 2009 to steady the world’s biggest energy exporter. Gross domestic product shrank 0.6 percent in the second quarter from a year earlier after a decline of 1.2 percent in the previous …
Read More »European equities slip in line with dollar
London / AFP European stocks and the dollar slid on Thursday after the Federal Reserve held interest rates and indicated it would take a slow, measured approach to any hikes. Markets also digested a barrage of company results, including from Britain’s Lloyds Banking Group, Rolls-Royce and Royal Dutch Shell, as well as France’s Carrefour, BNP Paribas and Renault, and …
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