Reuters Africa Business

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar sank to its lowest in more than three months on Tuesday as investors continued to take the view that growth in the world’s largest economy is starting to slow down, with the market starting to price in a rate cut by the first half of the …

US dollar skids to 3-1/2-month low, headed for biggest monthly drop in a year Read More »

By Sinéad Carew and Amanda Cooper NEW YORK/LONDON (Reuters) -MSCI’s global stock index was advancing on Tuesday while the dollar fell as a Federal Reserve official suggested the U.S. central bank was done raising rates and could even consider rate cuts if inflation keeps easing. The U.S. dollar hit a more than three-and-a-half-month low against …

Stocks rise as dollar falls, gold rallies on Fed commentary Read More »

By Stephanie Kelly NEW YORK (Reuters) -Oil prices jumped on Tuesday, settling up about 2% on the possibility OPEC+ will extend or deepen supply cuts, a storm-related drop in Kazakh oil output and a weaker U.S. dollar. Brent crude futures settled up $1.70, or 2.1%, at $81.68 a barrel. U.S. West Texas Intermediate (WTI) crude …

Oil settles up 2%; focus on OPEC+, storm-hit Kazakh output Read More »

By Felix Njini JOHANNESBURG (Reuters) -Impala Platinum on Tuesday temporarily halted operations at its Rustenburg mining complex in South Africa after 11 workers died and 75 were injured in what the CEO said was “the darkest day” in the company’s history. Impala said in a statement that workers were being brought to the surface at …

Impala Platinum halts some South African mines after 11 workers died Read More »

JOHANNESBURG (Reuters) -The South African rand was stable on Tuesday, supported by the conviction among global investors that the U.S. Federal Reserve will not raise interest rates again. At 1606 GMT, the rand traded at 18.6500 against the dollar, the same level as its previous close. The dollar was last trading down 0.3% against a …

South African rand stable, supported by investors’ Fed conviction Read More »

By Nelson Banya (Reuters) -ArcelorMittal South Africa shares tumbled nearly 14% on Tuesday after the company said it plans to close its long steel operations due to weak demand and persistent infrastructure problems, potentially affecting 3,500 workers. Shares in the company, the South African unit of the world’s No.2 steelmaker ArcelorMittal, were down 13.87% at …

ArcelorMittal South Africa shares tumble on plan to close long steel ops Read More »

By Sinéad Carew and Harry Robertson NEW YORK/LONDON (Reuters) -MSCI’s global equity index fell on Monday and U.S. Treasury yields fell while investors digested weak U.S. housing data and waited for key inflation readings later in the week. Oil prices also fell, with the Brent settling under $80 a barrel, as investors awaited this week’s …

Global stock index falls with Treasury yields, oil prices dip Read More »