LONDON (Reuters) – Cajoled by developed world governments and shocked by disasters such as the Bangladesh factory fire, investors in emerging market companies are looking more closely at environmental, social or governance issues before they buy.
Once the preserve of religious and ethically minded funds and the development finance arms of major economies, these ESG themes have moved into the mainstream.
LONDON (Reuters) – The cost of insuring Ukraine’s debt against default rose on Wednesday towards recent four-year highs and sovereign bonds fell after Ukrainian riot police moved against anti-government protesters overnight.
Police withdrew on Wednesday morning. President Viktor Yanukovich has faced weeks of demonstrations over his decision to ditch a trade deal with the European Union and strengthen Ukraine’s ties with Russia.
LONDON/KIEV, Dec 9 (Reuters) – Ukraine’s hryvnia jumped from
four-year lows on Monday as the central bank engineered a sharp
rise in short-term interest rates, forcing commercial banks to
scramble for the local currency.
The central bank has sold dollars regularly in recent weeks
to support the hryvnia’s exchange value, which has been hit by
spiralling political unrest. That has drained its hard currency
reserves, however, leaving the country at risk of a currency
NAIROBI/LONDON, Dec 3 (Reuters) – Improved fiscal management
has left Kenya well placed to borrow from international
financial markets, the IMF said, as the country said it planned
to start marketing a debut sovereign Eurobond next month.
The International Monetary Fund, in a statement, commended
Kenya’s tighter monetary stance since September and said it had
helped anchor inflationary expectations at low levels after
inflation spiked on the back of a revision to its value-added
tax (VAT) law.
LONDON, Nov 27 (Reuters) – Investment in North African
markets by international funds has evaporated as shocks in and
outside the region have prevented hoped-for economic progress
since “Arab Spring” uprisings swept many of the countries nearly
three years ago.
Morocco, which has avoided the worst of its neighbours’
turmoil, became the latest casualty on Wednesday when it was
relegated in the leading MSCI indices from the league of
established emerging markets to the “frontier” division of
economies with less developed capital markets.
LONDON, Nov 21 (Reuters) – Baring Asset Management has
switched to neutral from overweight on European and U.S.
equities but remains bullish in the longer term, and would see a
5-10 percent pullback as a buying opportunity, its chief
investment officer said.
Japan is the UK fund house’s favourite stock market for now.
Rallies in global stocks, especially in the United States
and Europe, have started to outstrip earnings growth, a warning
sign that a price correction may be coming, Marino Valensise
told the Reuters Global Investment Outlook Summit on Thursday.
LONDON, Nov 20 (Reuters) – Carmignac Gestion still finds
value in peripheral euro zone bonds in Italy, Spain and Ireland,
particularly at the longer end of the yield curve, a member of
the French fund’s investment committee said on Wednesday.
Japanese stocks are also appealing, with the market’s
storming rally this year lagging corporate performance, Didier
Saint-Georges told the Reuters Global Investment Outlook Summit.
LONDON (Reuters) – Lithuania’s budget deficit will be higher than originally forecast this year, but it still expects to meet the criterion for joining the euro zone, the country’s finance minister said on Tuesday.
Lithuania hopes to join the euro in 2015, and to qualify its deficit must not exceed 3 percent of gross domestic product. The deficit should come in just below that, Rimantas Sadzius said in interviews with Reuters Insider television and Reuters.
LONDON, Nov 13 (Reuters) – Emerging stocks dropped more than
1 percent to two-month lows and currencies fell on Wednesday on
renewed speculation of a withdrawal of risk-supporting U.S.
The Indian rupee hit two-month lows before suspected
central bank intervention, and the Indonesian rupiah hit
4-1/2 year lows.
LONDON, Nov 12 (Reuters) – Britain is considering setting up
a London-based clearing bank for the offshore yuan market to
improve liquidity, a government minister said on Tuesday.
Finance minister George Osborne has been leading a drive to
develop London as an offshore trading centre for the yuan, and
last month eased the rules for Chinese banks to set up in