07262016Tue
Last update: Tue, 26 Jul 2016 03pm

Middle East & Africa

Markets - FXMM - Middle East & Africa

South Africa's rand falls as Brexit aftershocks weigh JOHANNESBURG: South Africa's rand weakened against the dollar in early trade on Monday as investors' appetite for risk took a hit from Britain's vote to leave the European Union.At 0642 GMT, the rand traded at 15.1800 versus the dollar, 0.6 percent weaker from its New York close on Friday. It had weakened more than 1 percent earlier in the session."Markets remain cautious and are likely to remain so for a significant period of time as the realities of the vote and the timelines of the various outcomes remain somewhat sketchy," Nedbank Capital analysts in a note.The EU is one of South Africa's main trading partners.The impact from Brexit - which also generated turmoil in global equity, commodity and bond markets - was expected to grow due to its likely negative effect on the European economic and political landscape.Among many questions Brexit triggered were just how much UK and European economies ...

Markets - FXMM - Middle East & Africa

Uganda shilling falls as Brexit weighs on confidence KAMPALA: The Ugandan shilling weakened on Friday, as global fears over the economic ramifications of Britain's vote to leave the European Union triggered a scramble among commercial banks to beef up their dollar positions. At 0851 GMT, commercial banks quoted the shilling at 3,380/3,390, weaker than Friday's close of 3,365/3,375.Copyright Reuters, 2016 ...

Markets - FXMM - Middle East & Africa

Kenyan shilling steady on central bank assurances, shares extend losses NAIROBI: Kenya's shilling was steady on Friday, supported by the central bank's assurance it would step in to calm any jitters about the impact of Britain's vote to exit the European Union, but some banking stocks and other shares extended losses.Equity Bank and Co-operative Bank were down more than 2 percent, although Kenya Commercial Bank was unchanged.The benchmark NSE20 index of leading shares closed on Thursday at 3,744 points, its lowest level since mid-2012, after ...

Markets - FXMM - Middle East & Africa

Nigeria sells 112bn naira treasury bills, yields rise LAGOS: Nigeria sold 79.45 billion nairas ($282.74 million) of three-month to one-year treasury bills on Wednesday at higher yields than at its previous auction, the central bank said on Friday. The bank said it sold 18.12 billion naira of three-month paper at a yield of 9.99 percent, up from 8 percent at a sale on June 15. It raised 11.33 billion naira of six-month debt at 12.3 percent against 9.35 percent, while a total of ...

Markets - FXMM - Middle East & Africa

South Africa's rand gains on British referendum, stocks flat JOHANNESBURG: South Africa's rand stretched a recent rally into its fifth day on Thursday, defying technical and fundamental odds to trade at its firmest in over one month as Britain voted on its European Union status. Stocks were flat, failing to find footing in the volatile global markets as investors cautiously eyed the outcome of the British vote. By 1530 GMT the rand had firmed 0.96 percent to 14.4800 per dollar as overnight polls indicating ...

Markets - FXMM - Middle East & Africa

South Africa's rand firmer, eyes on British referendum JOHANNESBURG: South Africa's rand extended gains against the dollar in early trade on Thursday as cautious optimism that British voters would opt to stay in the European Union in the session helped risk appetite. At 0635 GMT, the rand traded at 14.5920 per dollar, 0.2 percent firmer from its New York close on Wednesday. The currency is trading at its strongest levels against the dollar since May 3, according to Thomson Reuters data.Focus was on ...

Markets - FXMM - Middle East & Africa

South Africa's rand firms after CPI slows, stocks up JOHANNESBURG: South Africa's rand marked a fourth straight session of gains against the dollar on Wednesday, aided by a surprise slowing of inflation locally and improved risk conditions abroad. Stocks benefited from rising global markets as investors grew more optimistic Britain would vote to remain in the European Union in its referendum on Thursday. Investors largely ignored election-linked violence in the capital Pretoria where two people were shot dead. By 1500 GMT the rand had ...