Search

GAM looks to add Coca-Cola Icecek as weak lira boosts earnings "Everyone is too emotional", said London-based Levashova, who bought shares in state lender Turkiye Halk Bankasi AS and homebuilder Emlak Konut Gayrimenkul Yatirim Ortakligi AS, part owned by the government housing agency, as they slid at least 15 percent in Istanbul since Friday. [Extracted from the article]

Chinese stocks slump in Hong Kong trading as valuations peak The Turkish lira fell after the central bank cut the overnight lending rate. [Extracted from the article]

Equity investors jumping into the post-Brexit rally in emerging markets are underestimating the dangers of slowing economic growth and global political turmoil. While favoring markets such as India where economic reforms may support equity gains, Greenberg has also identified companies in Russia and Brazil that are better able to withstand economic downturns. [Extracted from the article]

China's benchmark gauge rallies amid state-support bets China's benchmark equity gauge rallied to a three-month high amid speculation state-backed institutions intervened in both the stock and currency markets. The premium investors demand to own emerging-market bonds rather than U.S. Treasuries narrowed six basis points to 357, according to JPMorgan Chase & Co. indexes. [Extracted from the article]

U.S. emerging-market ETF net inflows rise for a sixth week Polish bonds rose for a second day, pushing yields on 10-year debt to the lowest since April 4 while South African bonds rose for a fourth day, with the yield on 10-year notes falling 10 basis points to 8.60 percent, the lowest level since the end of November. [Extracted from the article]

Russian stocks pare gains as market awaits Alrosa pricing The ruble retreated with bonds and Russian stocks pared gains as oil fell after U.S. stockpiles data suggested a supply glut will linger. [Extracted from the article]

The MSCI Emerging Market Index dropped the most in a week, with all 10 industry groups in the gauge declining. The MSCI Emerging Markets Currency Index retreated 0.6 percent. [Extracted from the article]

Stocks beat developed-market peers by most since 2009 Volatility in emerging equities and currencies is now lower than developed-market peers, luring investors with better returns at lower risks. [Extracted from the article]

Mobius Sees China Benefiting as Brexit May Herald "Dark Ages" Turmoil in Europe, U.K. may push investors toward Asia: Mobius "All of this turmoil in Europe and U.K. could prompt people to say 'Look, I'm going to diversify away from Europe and the U.K.,'" Mobius said. [Extracted from the article]

Short sellers are targeting Turkish Airlines as it presses on with expanding capacity while the country's tourism industry withers. Turkish Airlines declined to comment on the short selling data when contacted by Bloomberg on Friday. [Extracted from the article]

Consumer demand could slow as U.K. exit splinters trade bloc As investors sized up the shadow cast by Britain's Brexit vote over emerging markets, everything from Turkish carmakers to Indian technology companies and a South African platinum producer came under the spotlight. [Extracted from the article]

Poland receives biggest contribution of EU financial support Emerging Europe is under pressure from Brexit as it's "closest to what happens in the EU and the rising chances of its dissolution". [Extracted from the article]

Currency gauge rises to seven-week high amid Brexit vote Emerging-market stocks rose for a fifth day and currencies strengthened to a seven-week high as two polls conducted before Thursday showed a lead for the campaign to keep Britain in the European Union. [Extracted from the article]

Bookmaker odds of U.K. leaving European Union around 28% Emerging-market currencies show a higher correlation than stocks with an index tracking the percentage of voters favoring a "remain" vote. [Extracted from the article]

Yellen, who cited the U.K. referendum as a factor in the Fed's decision to leave interest rates unchanged last week, is testifying before lawmakers in Washington on Tuesday and Wednesday. Attribution Elena Popina: by reporter Choong En Han: assist Jung Park: assist Maria Levitov: by reporter Nikolaj Gammeltoft: editor Richard Richtmyer: editor Daliah Merzaban: editor responsible. [Extracted from the article]

Emerging-market assets rose for a second day on signs the campaign for the U.K. to stay in the European Union was gaining momentum. Business leaders including Richard Branson and U.K. Prime Minister David Cameron intensified campaigning for Britain to stay after momentum toward a so-called Brexit sparked a rush out of riskier assets last week. [Extracted from the article]

The MSCI Emerging Markets Index erased Wednesday's gain, falling 1 percent to 799.78. The Hang Seng China Enterprises Index of mainland stocks listed in Hong Kong slumped 2.3 percent. [Extracted from the article]

Russia's ruble declined and government borrowing costs climbed to the highest in almost two weeks as oil sank and investor appetite for emerging market assets ebbed before the U.K.'s Brexit vote. "The sensitivity of Russia to oil translates to a weaker currency, which is also reducing appetite to hold bonds", Petrov said. [Extracted from the article]

MSCI stock gauge set for worst three-day drop since January The MSCI Emerging Markets Currency Index declined 0.4 percent, and has lost 1 percent over three days. [Extracted from the article]

The MSCI Emerging Markets Currency Index advanced 0.8 percent to the highest closing level this year. The extra yield investors demand to hold emerging market debt over Treasuries fell two basis points to 384, according to JPMorgan Chase & Co. indexes. [Extracted from the article]

China's first London-listed sovereign bond to boost issuance EMEA investors bought 58% of sovereign yuan bond in London. [Extracted from the article]

Emerging-market stocks rose for a fourth day with currencies after Federal Reserve Chair Janet Yellen eased concern about U.S. economic growth and premature increases in interest rates. The extra yield investors demand to own emerging-market debt over U.S. Treasuries decreased three basis points to 387, according to JPMorgan Chase & Co. indexes. [Extracted from the article]

Britain was the third-largest contributor to the EU budget in 2015 with a net contribution of 10.9 billion euros ($12.4 billion) and Poland is scheduled to be the biggest recipient among the bloc's 28 members through 2020. The U.K.'s support for eastern EU countries dates back to before the bloc expanded in 2004, when the British government was the flag bearer for taking in the countries that were once behind the Iron Curtain. Attribution Ian Wishart: assist Cecile Gutscher: editor Gabriella Lovas: assist Lyubov Pronina: by reporter Maria Levitov: by reporter Stephen Kirkland: assist Daliah Merzaban: editor responsible. [Extracted from the article]

Investors have returned to riskier assets in the last two weeks following a stock selloff that pared the MSCI Emerging Markets Index's 2016 gain to 1.7 percent by the end of last month. The MSCI Emerging Markets Currency Index rose 1 0.7 percent. [Extracted from the article]

The MSCI Emerging Markets Currency Index advanced for a second day, while the equity benchmark advanced 0.5 percent to 803.71 by 12:10 p.m. in New York. The MSCI emerging-market stock gauge trades at 11.5 times the projected 12-month earnings of its members, compared with a multiple of 16 for the the MSCI World Index of developed-nation stocks. [Extracted from the article]

HSBC, Bank of China were global coordinators of the sale The yuan-denominated notes follow the People's Bank of China's issuance of one-year bills in London last year. [Extracted from the article]

Investor meeting attended by Bank of England, U.K. Treasury The securities will mature June 2, 2019, global coordinators Bank of China Ltd. and HSBC Holdings Plc told an investor meeting also attended by representatives for the Bank of England and U.K. Treasury. [Extracted from the article]

Technology companies led emerging-market stocks higher for a second day, outweighing declines in energy producers as crude prices dropped. The yield on 10-year Hungarian debt fell nine basis points to 3.35 percent on the return to investment grade by Fitch for the first time in five years. The premium investors demand to own emerging-market debt over U.S. Treasuries increased one basis point to 399, according to JPMorgan Chase & Co. indexes. [Extracted from the article]

Bank of China, HSBC are global coordinators of the offering Appetite for offshore yuan securities has waned since the Chinese currency "stopped being a one-way appreciation bet", according to London-based Paul McNamara at GAM UK Ltd., which oversees about $4.5 billion and doesn't hold yuan debt. Bank of China Ltd. and HSBC Holdings Plc are global coordinators of the bond sale, according to the statement by China's Finance Ministry. [Extracted from the article]

London-based money manager Charlemagne Capital Ltd. partnered with a Tehran firm to buy stocks and local-currency Iranian bonds that yield more than 20 percent. To contact the reporter on this story:Maria Levitov in London at mlevitov@bloomberg.netTo contact the editors responsible for this story:Daliah Merzaban at dmerzaban@bloomberg.netSrinivasan Sivabalan. [Extracted from the article]

Brent crude sells for the highest price since November Attribution Nupur Acharya: by reporter Douglas Lytle: editor Maria Levitov: by reporter Ian Sayson: by reporter Richard Richtmyer: editor Daliah Merzaban: editor responsible. [Extracted from the article]

Investors withdrew more than $1.6 billion from U.S. exchange-traded funds that buy emerging-market stocks and bonds in a second straight week of outflows. The MSCI Emerging Markets Currency Index fell 0.2 percent, taking the index's decline this month to 2 percent. In sovereign bond markets, the premium investors demand to hold emerging market bonds over Treasuries narrowed four basis points to 393. [Extracted from the article]

The MSCI Emerging Markets Currency Index slipped 0.2 percent. Developing-nation currencies are "less undervalued" after rallying in the previous three months, Kamakshya Trivedi, Goldman Sachs Group Inc.'s London-based strategist, said in a report. [Extracted from the article]

Consortium of builders hired Goldman Sachs to arrange meetings In February, a different group that includes some of the same builders sold $260.4 million of notes abroad in the first offering aimed at financing Colombia's so-called 4G infrastructure projects. [Extracted from the article]

Twelve months on from Andrzej Duda's surprise initial victory in Poland's presidential elections, stock investors are fleeing the country. Analysts slashed their earnings projections for Polish stocks by 14 percent from last year's peak in August on speculation Law & Justice would replace the Civic Platform after October elections and boost social spending at the expense of banks. [Extracted from the article]

Polish stocks have led losses worldwide this quarter, with the benchmark WIG20 Index sliding 12 percent in dollar terms, as the Law & Justice-led government's policies erode confidence in a market once considered a haven among developing economies. To contact the reporter on this story:Maria Levitov in London at mlevitov@bloomberg.netTo contact the editors responsible for this story:Daliah Merzaban at dmerzaban@bloomberg.netStephen Kirkland. [Extracted from the article]

Senate prepares to vote on President Dilma Roussseff's ousting The real and stocks fell Monday after the head of the lower house, Waldir Maranhao, called for an annulment of last month's impeachment vote. [Extracted from the article]

The MSCI Emerging Markets Currency Index was little changed after falling 1.9 percent in the past seven days. Attribution Douglas Lytle: editor Maria Levitov: by reporter Lilian Karunungan: by reporter Richard Richtmyer: editor Daliah Merzaban: editor responsible. [Extracted from the article]

The Shanghai Composite Index capped its biggest two-day loss since February after the nation's exports shrank in dollar terms in April and imports dropped for the 18th month. The MSCI Emerging Markets Currency Index fell for a sixth day, dropping 0.4 percent in its longest losing streak since August. The premium investors demand to own emerging-market debt over U.S. Treasuries widened two basis points to 404, according to JPMorgan Chase & Co. indexes. [Extracted from the article]

Emerging-market currencies fell for a third day amid a resurgent dollar and stocks dropped to a four-week low after Federal Reserve officials indicated a June interest-rate increase is still possible. The MSCI Emerging Markets Index dropped for a fourth day, the worst losing streak this year, as all 10 of the stock benchmark's industry groups retreated. "Emerging markets are reacting to the stronger dollar, which may be related to Lockhart's comments yesterday", said Michael Wang, a strategist at hedge fund Amiya Capital LLP in London, who favors Indian, Mexican and South Korean stocks. [Extracted from the article]

The MSCI Emerging Markets Index declined 1.7 percent to 821.09 in a third day of losses. The MSCI Emerging Markets Currency Index lost 0.5 percent, weakening for a second day. [Extracted from the article]

Poland, Hungary, Croatia debt downgraded by Commerzbank Commerzbank AG downgraded bonds from Poland, Hungary and Croatia this week, saying the countries are most vulnerable to Brexit risks. [Extracted from the article]

Bonds from Poland, Romania and Hungary have underperformed most of their emerging-market peers in April as investors brace for Britain to vote in June on whether to leave the European Union. Attribution Maria Levitov: by reporter Alex Nicholson: editor responsible Krystof Chamonikolas: by reporter Stephen Kirkland: editor Daliah Merzaban: editor responsible. [Extracted from the article]

Higher-rated corporate dollar bonds offer best riskless return Now investors are returning, buying the bonds of borrowers such as oil-company Petroleos Mexicanos and Brazilian iron-ore exporter Vale SA in a low-volatility sector yielding an average 2 percentage points more than Treasuries. Emerging markets help them in three ways: their bonds typically have higher rates, with those issued by investment-grade borrowers being relatively safe, and the dollar securities among them strip out the currency risk. [Extracted from the article]

Emerging markets halted their declines as an advance in oil offset caution before the Federal Reserve's comments this week on the pace of U.S. interest-rate increases. The Russian currency is gaining support from speculation that the central bank will refrain at its sixth meeting in a row from cutting the highest interest rate among major emerging markets in Europe, the Middle East and Africa. [Extracted from the article]

The MSCI Emerging Markets Currency Index slipped 0.1 percent to 1,521.84 as the Russian ruble and the Colombian peso each weakened at least 1.5 percent. The MSCI Emerging Markets Index rose to 853.69. [Extracted from the article]

Chinese state news agency signals more prudent monetary policy Attribution Choong En Han: assist Matthew Kalman: by reporter Douglas Lytle: editor Anuchit Nguyen: assist Maria Levitov: by reporter Richard Richtmyer: editor Daliah Merzaban: editor responsible. [Extracted from the article]

Brazilian stocks fluctuate as impeachment process advances Attribution Maria Levitov: by reporter Richard Richtmyer: editor Srinivasan Sivabalan: editor Daliah Merzaban: editor responsible Harry Suhartono: by reporter. [Extracted from the article]

Developing-nation equity gauge rises to highest since November The premium for emerging-market sovereign bonds over U.S. Treasuries narrowed two basis points to 399 basis points, according to JPMorgan Chase & Co. indexes. Attribution Matthew Kalman: by editor reporter Maria Levitov: by reporter Richard Richtmyer: editor Garfield Reynolds: editor responsible. [Extracted from the article]