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South Africa shifts to FDI outflows in third quarter, central bank says

13 Dec 2024

PRETORIA (Reuters) – South Africa recorded foreign direct investment outflows of 3.2 billion rand ($179.87 million) in the third quarter, compared to inflows of 16.6 billion in the second quarter, central bank data showed on Friday. The South African Reserve Bank (SARB) said in its Quarterly Bulletin that the outflows were due to domestic subsidiaries …

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Global equities retreat after ECB cuts rates; gold, oil fall

12 Dec 2024

By Chris Prentice and Amanda Cooper NEW YORK/LONDON (Reuters) -Global stocks were down and major Wall Street indexes fell on Thursday after the European Central Bank cut interest rates for a fourth time this year, as gold prices slid from a five-week high. European stocks finished lower in choppy trading after the European Central Bank …

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Dollar higher on fresh inflation data, euro lower after ECB rate cut

12 Dec 2024

By Hannah Lang NEW YORK (Reuters) -The U.S. dollar rose on Thursday after a hotter than expected inflation readout while the euro traded a touch lower following the European Central Bank’s decision to cut interest rates for the fourth time this year. A Labor Department report on Thursday showed producer prices rose 0.4% on a …

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Oil settles flat; markets weigh IEA surplus forecast, rate cut optimism

12 Dec 2024

By Nicole Jao NEW YORK (Reuters) -Oil prices settled close to unchanged on Thursday, pressured by a forecast for ample supply in the oil market but supported by rising expectations of a Federal Reserve interest rate cut. Brent crude futures settled down 11 cents, or 0.15%, to $73.41 a barrel. U.S. West Texas Intermediate crude …

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South African rand steady after Q3 employment, producer inflation data

12 Dec 2024

JOHANNESBURG (Reuters) -The South African rand was steady against the dollar on Thursday, after the release of third quarter employment data and producer inflation figures. At 1506 GMT, the rand traded at 17.7225 against the U.S. dollar, near its previous close. South Africa’s producer inflation was at -0.1% year on year in November from -0.7% …

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Vishal Mega Mart’s $943 million India IPO fully subscribed, retail investor demand tepid

12 Dec 2024

By Nandan Mandayam and Kashish Tandon (Reuters) -Indian budget retailer Vishal Mega Mart’s $943 million IPO was fully subscribed on the second day of bids on Thursday, though a flood of recent offerings dulled retail investors’ appetite for a company analysts say is immune to its bigger rivals’ problems. The issue got bids for 1.17 …

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Ivory Coast cocoa grind up 16.1% y/y in November exporter association says

12 Dec 2024

ABIDJAN (Reuters) – Ivory Coast’s cocoa grind rose 16.1% year-on-year in November to 60,694 metric tons, data from exporter association GEPEX showed on Thursday. The total grind from the start of the 2024/25 season in October stood at 119,777 tons of beans by the end of November, up 1.6% from the same point last season. …

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South African inflation expectations fall to midpoint of central bank range

12 Dec 2024

JOHANNESBURG (Reuters) – South African analysts, business people and trade unions have lowered their inflation expectations through to 2026, taking them to the midpoint of the central bank’s inflation target range, a quarterly survey showed on Thursday. The findings are likely to encourage the South African Reserve Bank (SARB) to forge ahead with its monetary …

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Australia’s Syrah Resources shares tank on force majeure, US loan defaults

12 Dec 2024

(Reuters) -Shares of Australia’s Syrah Resources plunged to a near five-year low on Thursday after it declared force majeure at its Balama graphite project in Mozambique due to disruptions from protests exacerbated by ongoing civil unrest, which also led the company to default on its U.S.-backed loans. Its shares were trading 28% lower at A$0.190 …

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Global shares, greenback rise as inflation data reinforce rate cut expectations

12 Dec 2024

By Chris Prentice and Tom Wilson NEW YORK/LONDON (Reuters) -Global shares and Wall Street indexes rose on Wednesday after an in-line inflation reading kept intact bets on the Federal Reserve cutting interest rates later this month. The dollar hit a two-week high, and gold prices rose. Oil prices finished up more than $1 after the …

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