Reuters Africa Business

(Reuters) -S&P Global Ratings revised its outlook on Nigeria to “positive” from “stable” on Friday, backing the country’s ongoing economic reforms, and also affirmed the country’s rating at “B-/B”. “The monetary, economic, and fiscal reforms being implemented by Nigerian authorities will yield positive benefits over the medium term,” S&P said in a statement. In May, …

S&P raises Nigeria’s outlook to ‘positive’ as reforms take hold Read More »

NEW YORK (Reuters) -Wall Street’s main indexes pared losses after being weighed down by technology stocks earlier Friday, while Federal Reserve officials cast doubt on a potential interest rate cut in December. Concerns about stretched AI stock valuations have triggered declines in recent weeks, putting the Nasdaq on course for its longest losing streak since …

Markets dip, investors worry about Fed and megacap tech Read More »

By Karen Brettell NEW YORK (Reuters) -The dollar gained on the euro and was roughly flat against the yen on Friday as stocks recovered from a sharp selloff and traders weighed whether the Federal Reserve is likely to cut rates in December. A flood of data that was delayed during the federal government shutdown is …

Dollar rises against euro amid Fed rate cut speculation Read More »

By Georgina McCartney HOUSTON (Reuters) -Oil prices settled more than 2% higher on Friday as Russia’s port of Novorossiisk halted oil exports following a Ukrainian drone attack that hit an oil depot in the Russian energy hub, stoking supply concerns. Brent crude futures settled up $1.38, or 2.19%, at $64.39 a barrel, while U.S. West …

Oil settles up more than 2% as Russian port suspends oil exports after Ukrainian attack Read More »

JOHANNESBURG (Reuters) -The rand slipped after rallying to its strongest level in more than two years, as traders locked in profits on Friday and awaited S&P Global’s scheduled review of South Africa’s sovereign credit rating with caution. At 1432 GMT, the rand traded at 17.17 against the dollar, about 0.7% weaker than Thursday’s close. South …

South African rand slips as traders await S&P rating decision Read More »

By Portia Crowe and Libby George (Reuters) -Senegal’s finance ministry told investors it will pay back its debts and continue talks with the International Monetary Fund as the nation braced for a key credit rating decision from S&P Global later on Friday. The IMF suspended Senegal’s lending program last year after the then-new government flagged …

Senegal will pay debts, committed to IMF talks, says finance ministry Read More »

By Karen Brettell NEW YORK (Reuters) -The U.S. dollar dipped on Thursday as the U.S. government reopened, leaving traders grappling with the long-term impact the shutdown will have on trust in the U.S. currency and ahead of a deluge of data on the health of the economy. The shutdown was the U.S. government’s longest, snarling …

US dollar drops as government reopens after record shutdown Read More »