Reuters Africa Business

By Herbert Lash and Harry Robertson NEW YORK/LONDON (Reuters) -Global equity markets mostly faltered on Wednesday as investors await fresh inflation data to better assess the likelihood of Federal Reserve interest rate cuts, while the dollar edged higher on expectations of U.S. economic out-performance. European stocks rose to a record high, boosted by company earnings, …

Stocks slip, dollar gains as market awaits inflation data Read More »

By Nicole Jao NEW YORK (Reuters) -Oil prices edged higher on Wednesday after data showed U.S. crude stockpiles fell last week as refiners slowly ramped up output ahead of the summer driving season, while a stronger dollar capped gains. Brent crude oil futures settled 42 cents, or 0.5%, higher at $83.58 a barrel. U.S. West …

Oil ends slightly firmer after US crude stock draw, firmer dollar Read More »

LIMA (Reuters) -Niagara Energy has wrapped up a $1.36 billion share purchase in Enel Generacion Peru, which will give the firm majority control over the local subsidiary of Italian utility Enel. Niagara, controlled by investment firm Actis, is buying around 2.9 billion shares for 47 cents apiece, giving it a 92.35% stake in Enel’s power-generating …

Niagara Energy finalizes $1.36 billion takeover of Enel Peru unit Read More »

JOHANNESBURG (Reuters) -South Africa’s rand weakened against the dollar on Wednesday on the view that the U.S. will delay cutting interest rates, with investors on edge ahead of the upcoming elections. At 1510 GMT, the rand traded at 18.6150 per dollar, around 0.6% below its previous close. The dollar index rose about 0.1% against a …

South African rand slips on expected US rate cut delay Read More »

By Karen Brettell and Amanda Cooper NEW YORK/LONDON (Reuters) -The dollar gained on Wednesday as investors continued to bet on the U.S. economy outperforming peers and was higher for the third day against the Japanese yen, keeping investors wary of the risk of intervention from Tokyo. In Europe, the Swedish crown came under pressure after …

Dollar gains on rate outlook, yen weakens for third day Read More »

By Shariq Khan NEW YORK (Reuters) -Oil prices closed slightly lower on Tuesday on signs of easing supply concerns, while market participants shifted their focus to U.S. stockpiles data due later today and Wednesday. Brent crude futures settled 17 cents lower at $83.16 a barrel, and U.S. West Texas Intermediate crude futures closed 10 cents …

Oil settles lower on signs of easing supply tightness Read More »

By Herbert Lash and Stephen Culp NEW YORK (Reuters) -Wall Street pared earlier gains on Tuesday after equity markets elsewhere rallied as investors parsed when and by how much the Federal Reserve cuts interest rates this year, while a resurgent dollar helped weaken the yen further. MSCI’s gauge of global stock performance closed up 0.30% …

Wall St loses steam, dollar gains as investors mull rate cut timing Read More »