Reuters Africa Business

By Stephen Culp NEW YORK (Reuters) – Wall Street ended lower on Friday as investors closed the book on a week marked with mixed earnings, warnings of possible further interest rate hikes from the Federal Reserve, and worries of escalation of the Middle East conflict. The yield on 10-year U.S. Treasury notes was briefly bid …

Wall Street notches weekly loss as benchmark US bond yield eases Read More »

By Shariq Khan BENGALURU (Reuters) -Oil prices settled lower on Friday after the Islamist group Hamas released two U.S. hostages from Gaza, leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies. Brent crude futures fell 22 cents, or 0.2%, to settle at $92.16 …

Oil drops after Hamas releases US hostages Read More »

By Karen Brettell and Amanda Cooper NEW YORK/LONDON (Reuters) – The dollar touched the closely watched 150 level against the yen on Friday, before falling back again, as investors positioned for the Federal Reserve to hold rates higher for longer. A move above 150 is seen in the market as having the potential to spur …

Dollar hits 150 yen then dips on intervention jitters Read More »

JOHANNESBURG (Reuters) -The South African rand regained lost ground on Friday against the U.S. dollar while global focus remained on conflict in the Middle East. At 1505 GMT, the rand traded at 18.9350 against the dollar, over 0.5% weaker than its previous close. The rand had weakened in the past couple of days on soaring …

South African rand regains ground against dollar Read More »

By Tannur Anders and Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s biggest food producer Tiger Brands said on Friday a new CEO would take over from the start of next month to tackle the “challenges currently facing the company”, sending its shares just over 10% higher. CEO Noel Doyle, who has been in charge for more …

South Africa’s Tiger Brands names new CEO, sending shares higher Read More »

By Stephen Culp NEW YORK (Reuters) – U.S. stocks slid and 10-year U.S. Treasury yields reached a 16-year high after U.S. Federal Reserve Chairman Jerome Powell said that additional interest rate hikes could be warranted in view of economic resiliency and labor market tightness. All three major U.S. stock indexes turned sharply lower as Powell’s …

Wall St ends lower on Powell remarks as benchmark Treasury yields near 5% Read More »

By Karen Brettell NEW YORK (Reuters) – The dollar dropped on Thursday after Federal Reserve Chair Jerome Powell was interpreted as being generally dovish in comments made at an economic forum, even as he warned that the U.S. central bank could raise interest rates again. The U.S. economy’s strength and continued tight labor markets could …

Dollar dips on dovish Powell comments Read More »

By Laura Sanicola (Reuters) -Oil prices settled higher on Thursday as traders remained nervous that Israel’s military campaign in Gaza could escalate to a regional conflict. Brent futures for December settled up 1%, or 88 cents, at $92.38 a barrel while U.S. West Texas Intermediate (WTI) futures for November, which expire on Friday, settled up …

Oil settles up 1% on nagging worries about Middle East Read More »