Last update: Sun, 14 Feb 2016 04am

Stocks and Bonds


As Wall Street struggles to find its footing after a shaky start to the year, investors are not getting any solace from corporate earnings. Bleak profit expectations for the fourth quarter of 2015 have only gotten worse as weak results have poured in, bucking a more typical trend of seeing improvements as the reporting season progresses. Moreover, analysts are continuing to slash their estimates for both revenue and profit for the first half of 2016.

Net selling of Japanese cash stocks by foreign investors hit a near five-month high in the week of February 1-5, exchange data showed, as a stronger yen and worries about a global economic slowdown threatened to erode exporters' profits. Foreigners sold 611.25 billion yen ($5.5 billion) of Japanese cash stocks on a net basis during the week, the largest amount since mid-September, according to data released by the Japan Exchange Group on Friday.
Pakistan Mercantile Exchange (PMEX) is in continuous quest to create awareness amongst stakeholders of the commodity market and in this respect follows a multi-pronged awareness strategy comprising of training programs, workshops and seminars in a collaborative environment to deliberate on strategies, policies and best practices for strengthening the commodity market in Pakistan.
Nigeria's stock exchange, Africa's second-largest, is looking to attract investors spooked by a weak currency and oil price by offering more products ahead of a possible listing. "We would like to give exposure to asset classes that we are not necessarily trading," chief executive Oscar Onyema, a former Wall Street executive who returned home like many Nigerians to tap opportunities in Africa's biggest economy, told Reuters.
Canada's main stock index rebounded on Friday after five days of losses, led by banks and energy stocks as crude oil prices rallied and after US retail sales data offered encouragement on economic growth. Relative calm returned to financial markets after a week of turmoil in which investors worried about the impact of negative interest rates on banking profits.
Azeri state oil fund SOFAZ plans to continue foreign currency sales on the market in 2016 to support the country's ailing manat currency and does not intend to purchase gold this year, the fund's deputy CEO said on Tuesday. "According to the approved 2016 budget of SOFAZ, total outflows from the fund are planned to be approximately 8.2 billion manats ($5.1 billion). This means if there are no amendments to the budget, the fund will need to sell $5.1 billion in 2016 to meet the fund's budget obligations," Israfil Mammadov said in e-mailed comments.
Uruguay intends to tap the international capital markets for up to US $1.5bn in 2016 as it sees to prefund for next year, according to the country's latest debt report. The South American country already has ample funds to cover approximately US $2bn in amortizations and interest payments falling due this year. But prefunding well ahead of time has long been part of the country's strategy in the capital markets, and this year will be no different.