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Jul 28, 2014

Russian dollar, euro corporate bonds slide on sanctions

LONDON, July 28 (Reuters) – Russian bank and company bonds
denominated in dollars and euros have slumped in value in the
past few days in anticipation of tough European Union sanctions.

The EU has already slapped sanctions such as asset freezes
and travel bans on some Russian officials, after Russia annexed
Ukraine’s Crimea region earlier this year and began supporting
separatists fighting Kiev’s forces in eastern Ukraine.

Jul 28, 2014
via Global Investing

Myanmar – investing in a far frontier

Frontier investors have been excited by the opening up of Myanmar’s market since its quasi-civilian government came to power in 2011, after nearly half a century of military rule. But investors also complain that there is very little to invest in. This one is a deep frontier – there is no real stock market, and investors have tended not to go directly into local companies.

Myanmar is seen as ripe for business expansion, given only an estimated 30 percent of the population have access to electricity, for example. And the IMF predicts growth of 8.5 percent in the country this year, one of the fastest growth rates in the world, due partly to rising gas production.

Jul 24, 2014

European stocks rise on euro zone data; sanctions hit Russia

LONDON, July 24 (Reuters) – European stocks hit 2 1/2-week
highs and the euro rallied from eight-month lows against the
dollar on Thursday after the region’s private sector expanded at
its fastest rate in three months in July.

Russian debt insurance costs rose after European Union
leaders proposed sanctions on Russian banks which are
majority-owned by the government. Those measures were proposed
after a Malaysian Airlines plane was downed over Ukraine last
week, killing 298, possibly by a missile furnished by Russia.

Jul 24, 2014

Emerging stocks near 17-month high on China PMI

LONDON (Reuters) – The euro pulled off eight-month lows against the dollar on Thursday after the bloc’s private sector expanded at its fastest rate in three months in July, and emerging equities hovered near 17-month highs after strong Chinese data.

European stocks edged up too after digesting Markit’s Composite Purchasing Managers’ Index (PMI) of companies across the euro zone and a good early indicator of overall growth. The overall index rose to 54.0 in July from 52.8, its highest since April. Any number above 50 indicates expansion.

Jul 24, 2014

Euro gets lift from business activity data, China PMI helps emerging stocks

LONDON (Reuters) – The euro pulled off 8-month lows against the dollar on Thursday after the bloc’s private sector expanded at its fastest rate in three months in July, and emerging equities hovered near 17-month highs after strong Chinese data.

European stocks edged up too after digesting Markit’s Composite Purchasing Managers’ Index (PMI) of companies across the euro zone and a good early indicator of overall growth. The overall index rose to 54.0 in July from 52.8, its highest since April. Any number above 50 indicates expansion.

Jul 21, 2014

Ebola outbreak not hurting investment in Sierra Leone: foreign minister

LONDON (Reuters) – The Ebola outbreak has not hurt foreign investment in Sierra Leone but will inevitably require more spending to fight it, the country’s foreign minister said on Monday.

Sierra Leone is among a group of West African countries suffering the worst-ever outbreak of Ebola, accounting for close to a third of the more than 600 deaths across the region since February, according to World Health Organization figures.

Jul 16, 2014

Upgrade or no upgrade, UAE and Qatar keep frontier investor fanbase

LONDON, July 16 (Reuters) – Despite their recent upgrade to
the more mainstream emerging market league, United Arab Emirates
and Qatar are considered risky enough by many investors that
they still treat them like frontier markets.

Erratic price moves, difficulties of accessing the market,
and deep political risks, alongside strong growth, are common
characteristics of frontier markets, which are less developed
emerging markets, and the two Middle Eastern countries still
tick those boxes for many.

Jul 6, 2014

Chinese assets warm, not hot for Western investors

LONDON, July 6 (Reuters) – A flurry of initiatives by China
to open up its currency, stock and bond markets inside and
outside the country has failed so far to allay international
investor concerns about performance, accessibility and
liquidity.

China has been working increasingly rapidly to liberalise
its capital markets, with the eventual aim of making its
currency fully convertible, giving it a larger role in the
global economy.

Jul 1, 2014

Rouble falls on Ukraine, Dubai stocks bounce from 5-month low

LONDON, July 1 (Reuters) – The rouble fell nearly 1 percent
to its lowest in a week and Russian stocks dropped on Tuesday
after a ceasefire ended in Ukraine, while Dubai stocks bounced
from five-month lows as investors stepped in to buy cheaper
stocks.

Central European markets came under pressure from weaker
than expected manufacturing data.

Jun 30, 2014

Poll-European funds’ equity holdings highest since March 2011

LONDON (Reuters) – European fund managers made their highest allocation to equities this month since March 2011, cutting cash positions in a risk-seeking environment, a Reuters survey showed on Monday.

Fund managers in the poll put 48.3 percent of their global assets in equities in June, well above the long-term average of 46 percent and compared with 48.1 percent in May.

    • About Carolyn

      "I work in London as part of the Reuters investment strategy editorial team, specialising in emerging and frontier markets. I cover emerging bond, stock and FX markets as well as global market themes, and interview emerging market policy-makers when they attend events in London. I started at Reuters in 1993, writing about foreign exchange, government bonds and Eurobonds before switching to emerging markets."
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