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Jan 3, 2014
via Global Investing

Less merging in emerging markets last year

Last year was not the best for mergers in emerging markets, according to Thomson Reuters data, which shows  mergers & acquisition activity down 4.6 percent from 2012 to $675.2 billion. The number of deals fell even more Рby 11.3 percent to 12,748.

The drop-off in emerging M&A activity mirrors a 5 percent fall in the benchmark MSCI emerging stocks index last year, with investors more fearful about the emerging market growth outlook. But unlike stock market performance, emerging market deal activity outstripped the global total, which was down 6 percent from 2012 levels.

Dec 30, 2013

New Year’s quiz: name 2013′s top frontier, emerging markets

LONDON, Dec 30 (Reuters) – Time for an end of year quiz.
Which emerging and frontier market countries were the best stock
performers in dollar terms?

Nil points if you said China, with its colossal internal
market, recession-free Poland, or oil-rich Nigeria.

Dec 24, 2013

Emerging debt sales hit surprise record in 2013, outlook upbeat

LONDON, Dec 24 (Reuters) – Emerging market dollar bond sales
hit record highs of $450 billion this year, surprising industry
players who had predicted issuance to suffer from the threat of
U.S. monetary stimulus withdrawal.

Worries about the squeezing of the U.S. lifeline that had
fuelled demand for risky assets drove money from emerging market
debt funds and hit returns in 2013, after several years of
inflows and double-digit gains.

Dec 19, 2013

“Fragile five” elections add to 2014 risks for emerging markets

LONDON, Dec 19 (Reuters) – Elections in all the “fragile
five” emerging economies next year, along with the thorny topics
of Syria and Iran, will make life tricky for investors trying to
steer through political risks in developing markets after a
hairy 2013.

The withdrawal of U.S. monetary stimulus will set the
backdrop for the year, particularly for these big developing
economies that depend heavily on foreign investor inflows.

Dec 18, 2013

Ukraine debt soars on Russia deal, Turkey stocks plunge

LONDON, Dec 18 (Reuters) – Ukraine’s dollar debt soared on
Wednesday, a day after the country agreed a bailout from Russia,
while Turkish stocks fell more than two percent to their lowest
level in more than three months following a corruption probe.

Russia said on Tuesday it would buy $15 billion in Ukrainian
bonds under a deal that keeps Kiev firmly in Moscow’s orbit and
out of the European Union’s grasp, but sowed doubts in some
Ukrainians’ minds about what President Viktor Yanukovich might
have agreed to in secret.

Dec 17, 2013

Stocks edge up, Turkey falls on corruption probe

LONDON, Dec 17 (Reuters) – Emerging stocks edged up on
Tuesday ahead of a U.S. Federal Reserve meeting which may decide
on a withdrawal of monetary stimulus, though Turkish stocks fell
following high-profile detentions as part of an investigation
into alleged bribery.

The Federal Open Market Committee starts a two-day policy
meeting on Tuesday and investors are on tenterhooks over when it
will begin to reduce its $85 billion-a-month bond-buying
programme, a major driver of risky assets.

Dec 11, 2013

Sustainable strategies win over skeptical emerging stock investors

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.

Dec 11, 2013

Ukraine debt insurance costs move back towards four-year high

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.

Dec 9, 2013

Ukraine hryvnia jumps as central bank drives up short-term rates

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
crisis.

Dec 3, 2013

Kenya well placed to launch Eurobond says IMF, as Nairobi plans roadshow

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.

    • 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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