Reuters Africa Business Archives

US inflation data lifts global stocks, lowers Treasury yields

26 Jul 2024 26 Jul 2024

By Chuck Mikolajczak NEW YORK (Reuters) -A gauge of global stocks climbed for the first time in four sessions on Friday as equities steadied after a sharp selloff and U.S. economic data showed an improving inflation landscape, sending Treasury yields lower. The Commerce Department said the personal consumption expenditures (PCE) price index, the Federal Reserve’s …

US inflation data lifts global stocks, lowers Treasury yields Read More »

Dollar treads water after tame US inflation report, yen rally stalls

26 Jul 2024 26 Jul 2024

By Alden Bentley NEW YORK (Reuters) -The dollar ended little changed on Friday, pressured by a fall in Treasury yields after a tame U.S. inflation report that investors said kept the runway for the expected September Federal Reserve easing clear. The Commerce Department’s June personal consumption expenditures (PCE) price index nudged up 0.1%, as expected, …

Dollar treads water after tame US inflation report, yen rally stalls Read More »

Exclusive-Petrobras bids to operate Galp’s Mopane oil field in Namibia

26 Jul 2024 26 Jul 2024

By Marta Nogueira ARACAJU, Brazil (Reuters) -Brazil’s state-run oil firm Petrobras has made a non-binding offer to buy a major stake in Galp Energia’s huge oil offshore discovery in Namibia, Petrobras Exploration and Production Director Sylvia dos Anjos told Reuters on Friday. If accepted, the bid would make Petrobras the operator of the Mopane oil …

Exclusive-Petrobras bids to operate Galp’s Mopane oil field in Namibia Read More »

Oil falls 1.5%, ends week lower on China demand fears

26 Jul 2024 26 Jul 2024

By Erwin Seba HOUSTON (Reuters) -Oil futures fell about 1.5% on Friday, finishing the week lower on declining Chinese demand and hopes of a Gaza ceasefire agreement that could ease Middle East tensions and accompanying supply concerns. Brent crude settled down $1.24, or 1.5%, at $81.13 a barrel. West Texas Intermediate crude ended $1.12, or …

Oil falls 1.5%, ends week lower on China demand fears Read More »

Exclusive-Nigeria’s Dangote refinery is reselling crude, sources say

26 Jul 2024 26 Jul 2024

By Ahmad Ghaddar, Julia Payne and Libby George LONDON/BRUSSELS (Reuters) -Nigeria’s major Dangote oil refinery is reselling cargoes of U.S. and Nigerian crude, four trade sources familiar with the matter said on Friday. Three of the sources said the reoffer was linked to technical problems at the refinery. A Dangote executive, asked about the offers …

Exclusive-Nigeria’s Dangote refinery is reselling crude, sources say Read More »

South African rand gains after US inflation report

26 Jul 2024 26 Jul 2024

JOHANNESBURG (Reuters) -The South African rand gained against the dollar on Friday, after a reading of U.S. inflation did little to alter expectations of a September interest rate cut by the Federal Reserve. At 1510 GMT, the rand traded at 18.27 against the dollar, about 0.6% stronger than its previous close. The dollar index was …

South African rand gains after US inflation report Read More »

Bank of Ghana keeps main rate unchanged over inflation concerns

26 Jul 2024 26 Jul 2024

By Christian Akorlie ACCRA (Reuters) -Ghana’s central bank held its main interest rate steady at 29% for the third meeting in a row on Friday, saying a strong monetary stance was needed due to uncertainty over the inflation outlook. Economists polled by Reuters before Friday’s announcement predicted a 50-basis-point cut in its main rate. They …

Bank of Ghana keeps main rate unchanged over inflation concerns Read More »

Nigeria’s central bank sells $148 million to 29 authorised dealers

26 Jul 2024 26 Jul 2024

ABUJA (Reuters) – Nigeria’s central bank has sold $148 million in foreign exchange to 29 authorised dealer banks in the spot market to ease demand pressure, it said on Friday. The central bank said it sold dollars at between 1,470 naira and 1,510 naira to dealers in the Nigerian Foreign Exchange Market on July 22 …

Nigeria’s central bank sells $148 million to 29 authorised dealers Read More »

Standard Chartered interested in Uganda rail project, president’s office says

26 Jul 2024 26 Jul 2024

KAMPALA (Reuters) – Standard Chartered Bank is interested in financing Uganda’s planned Standard Gauge Railway (SGR), a statement from President Yoweri Museveni’s office said, after the project failed to secure credit from China. Sanjay Rughani, chief executive officer the bank’s Ugandan unit, told Museveni the lender was interested in the project, according to the statement, …

Standard Chartered interested in Uganda rail project, president’s office says Read More »

Stocks add to recent losses; yen flat after 2 1/2-mo high vs dollar

25 Jul 2024 26 Jul 2024

By Caroline Valetkevitch NEW YORK (Reuters) -World stock indexes mostly fell in choppy trading Thursday, adding to losses after a tech-led selloff in the previous session, while the Japanese yen drifted near flat after reaching a 2 1/2-month high against the U.S. dollar. U.S. megacap stocks were mostly in positive territory throughout afternoon trading before …

Stocks add to recent losses; yen flat after 2 1/2-mo high vs dollar Read More »