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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.

Nov 27, 2013

Foreign flows to North Africa evaporate on shocks at home and abroad

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.

Nov 21, 2013

Barings sees 5-10 pct global equity correction as buy signal

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.

Nov 20, 2013

Peripheral euro zone debt still has value -Carmignac

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.

Nov 19, 2013

Lithuania will meet deficit target for euro entry: finmin

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.

Nov 13, 2013

Fed taper talk sends emerging stocks to 2-month lows, hits vulnerable currencies

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.
monetary stimulus.

The Indian rupee hit two-month lows before suspected
central bank intervention, and the Indonesian rupiah hit
4-1/2 year lows.

    • 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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