LONDON (Reuters) – Global investors lifted their holdings of euro zone assets to the highest in more than a year this month while trimming exposure to Asian equities during a rout of emerging market assets, Reuters polls showed.
Fund managers are growing more optimistic about the euro zone’s recovery from recession and its debt crisis, reinforced by Germany – the bloc’s largest economy – enjoying its fastest rate of expansion in more than a year in the second quarter.
LONDON (Reuters) – The Indian rupee and the Turkish lira bounced from this week’s record lows on Thursday as concern receded about any immediate U.S.-led military strike on Syria.
The Israeli shekel also recovering from three-month lows.
Energy-importing emerging markets have suffered as oil jumped sharply this week on worries about the military action, and Israeli markets fell as Israel strengthened missile defences against a possible retaliatory attack by Syria.
LONDON, Aug 15 (Reuters) – How do you work out what kind of
foods people in developing countries will be eating in a few
years’ time? Go round to their richer neighbours and look in the
Fund managers AllianceBernstein are taking a leaf out of the
multinationals’ books and doing on-the-ground research to pick
consumer trends such as in basic and luxury food items.
LONDON (Reuters) – Looking beyond the problems of a region beset by regime change in Egypt, a security crisis in Yemen and civil war in Syria, international investors are seeking out well-run businesses in Middle Eastern and even some North African stock markets.
The Middle East and North Africa (MENA) region is a diverse investment universe which includes both energy importers and exporters, and surplus and deficit economies, but enjoys cross-border trade, investment and even aid links.
LONDON, July 24 (Reuters) – Bulgarian stocks have survived
political troubles to hold onto their position as this year’s
top performing frontier market, helped by a relatively upbeat
economic outlook compared with other countries in the region.
Like many frontier economies – less developed emerging
markets – Bulgaria has its share of political risks.
LONDON, July 23 (Reuters) – The lira steadied below
one-month highs on Tuesday after a relatively modest interest
rate hike by Turkey’s central bank, while the Hungarian forint
hit four-week lows after a rate cut and the promise of more to
Turkey’s central bank has been acting in recent weeks to
shore up the currency, whch has fallen on global fears about the
withdrawal of U.S. stimulus and by domestic political tensions.
Just as Hungary is worrying foreign investors with a plan to help households laden with foreign currency mortgages – likely to prove expensive for its banks – its trade bank has come up with an interesting structure for a planned bond.
State-owned Eximbank has been holding a roadshow this week for a two-part bond, with one part of the bond guaranteed by the World Bank’s risk insurance arm, Miga.
LONDON, July 19 (Reuters) – Bonds of Turkish banks,
Ukrainian state firms and central European miners were among the
worst performers in a recent sell-off in emerging debt and
investors are on alert for further price falls or even defaults.
The emerging corporate debt market has boomed in recent
years, with the volume of outstanding debt passing $1 trillion
last year and record issuance seen in the first half of 2013.
LONDON, July 11 (Reuters) – Foreign investors sitting on
losses of 5-15 percent in Turkey are likely to cut and run
without a swift and substantial interest rate rise to stabilise
the plunging lira.
Foreign fund managers have yanked around $3 billion from
Turkish stocks and bonds since the last week of May, central
bank data shows, reversing only a tiny part of the investment
inflows the country has received in recent years.
LONDON, July 10 (Reuters) – Twice-bailed-out Greece may not
relish its impending switch to the world of emerging markets,
but the move should bring with it new risk-seeking investors.
Index compiler MSCI said last month it would downgrade
Greece to emerging market status from November, citing weak
market access and the small number of Greek stocks that met the
criteria for inclusion as a developed market.