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Canadian dollar rallies as bond yields hold below recent highs

16h11 The Canadian dollar rose against the greenback on Monday as pressure on stocks due to the recent jump in bond yields faded and data showed narrowing in Canada's current account deficit, with the loonie rebounding from a two-week low on Friday. World shares jumped as bond yields stayed b  Full story

Australia, NZ dlrs recover from bond market tumult

07h10 The Australian and New Zealand dollars recovered against the greenback on Monday after riskier currencies plunged late last week amid a global bond market sell-off.  Full story

Shoprite hit by challenges in Africa's frontier markets

26/02 Africa's largest supermarket group Shoprite reported on Tuesday its first half-year earnings decline in over a decade, hit by a currency devaluation in Angola, highlighting the challenges of doing business in frontier African markets.  Full story

Most Read This Week

Dollar hits fresh three-year lows against commodity-linked currencies

24/02 Dovish testimony from Federal Reserve Chair Jerome Powell on Wednesday bolstered bets on reflation and fears of inflation, driving the U.S. dollar to fresh three-year lows against commodity-linked currencies including the Canadian, Australian and New Zealand dollars.  Full story

 

SA Company

Tight supply and hydrogen hopes drive iridium up 160%

12/02 Iridium has become the latest precious metal to undergo a spectacular price rally, after supply shortages and expectations it will be used to produce hydrogen to power a greener economy lifted its value by. . .  Full story

South Africa's Aveng aims to raise $20 mln in rights issue

26/01 South African construction and resources company Aveng aims to raise 300 million rand ($20 million) through a fully co-underwritten rights offer to restructure its balance sheet and deleverage, the firm said on Tuesday.. . .  Full story

After pandemic, oil firms even less willing to cover $3.9 bln cost of S.Africa's clean fuel plan

22/01 After being hit by the pandemic, oil companies in South Africa are unlikely to upgrade refineries to cut sulphur emissions unless the government allows them to pass the costs on to consumers or offers. . .  Full story
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Live News Wire

New WTO chief calls for tripling of vaccine production

19h18 The new chief of the World Trade Organization (WTO) urged its member states on Monday to work with pharmaceutical companies to license more COVID-19 vaccine manufacturing in developing countries in order to triple global production.  Full story

Tin retreats from nine-year high but fundamentals underpin prices

19h18 Tin prices plunged more than 10% on Monday as last week's nine-year highs triggered technical selling and prompted investors to book profits, though shortages capped losses.  Full story

Energy leaders grapple with low-carbon future at virtual CERAWeek conference

19h18 Global energy leaders and other luminaries like Microsoft co-founder Bill Gates bored in on the tough road to transforming world economies to a lower-carbon future at the kickoff of the all-virtual CERAWeek conference on Monday.  Full story
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Europe

Homebuilders, miners spur bounce-back in British stocks

19h15 British shares rose on Monday, led by homebuilders and miners on reports of more domestic fiscal support, while relative stability in bond yields also helped stocks recover from last week's losses.. . .  Full story

Irish COVID-19 jobless claims fall for third successive week

19h03 The number of people in Ireland claiming temporary coronavirus-related jobless benefits fell slightly for the third successive week, following a sharp rise after the reintroduction of strict COVID-19 curbs, data showed on Monday.. . .  Full story

Oil rises as vaccine and U.S. stimulus boost demand outlook

18h52 Oil prices were up on Monday on rising optimism about COVID-19 vaccinations, a U.S. economic stimulus package and growing factory activity in Europe despite coronavirus restrictions.. . .  Full story
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US

U.S. manufacturing activity hits three-year high; cost pressures accelerating

19h15 U.S. manufacturing activity increased to a three-year high in February amid a surge in new orders, but factories continued to face higher costs for raw materials and other inputs as the pandemic drags on.. . .  Full story

S&P 500 set for best day in nine months on vaccine, stimulus cheer

18h56 The S&P 500 on Monday was headed for its best day since June 5 as bond markets calmed after a month-long selloff, while encouraging updates on COVID-19 vaccines and fiscal stimulus bolstered bets over. . .  Full story

Gold rises as U.S. Treasury yields soften

18h52 Gold prices rose on Monday as a retreat in U.S. Treasury yields helped to bolster its status as an inflation hedge after a U.S. stimulus package moved one step closer to becoming law, but. . .  Full story
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Asia

Lebanon banking commission to assess if lenders met capital target - governor

18h27 Lebanon's Banking Control Commission will evaluate which banks met targets for boosting their capital and liquidity, the central bank governor said on Monday, after the expiry of a deadline for them to do. . .  Full story

Mumbai power outage could have been cyber sabotage, says minister

18h22 A power failure that crippled India's financial capital of Mumbai in western Maharashtra state last year could have been a case of cyber sabotage, a local minister said on Monday, as China denied a. . .  Full story

India finance ministry considers cutting taxes on petrol, diesel -sources

16h54 . . .  Full story
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Forex

ECB slowed bond buys last week even as market tanked

18h58 The European Central Bank slowed its net purchases of debt last week even as borrowing costs jumped in the financial markets, casting a shadow over a nascent recovery in the pandemic-stricken euro zone economy.. . .  Full story

Wall Street rises on U.S. stimulus and vaccine hopes as bond markets calm

18h33 Stock markets rose on Monday, with investors taking lower U.S. bond yields in stride as a sweeping $1.9 trillion U.S. coronavirus relief bill and distribution of Johnson & Johnson's newly authorized COVID-19 vaccine spurred Wall. . .  Full story

Sterling rises supported by Britain's swift vaccine roll-out

18h09 Sterling edged higher against both the euro and the dollar on Monday as a swift coronavirus vaccine roll-out supported the pound and fuelled hopes of economic recovery.. . .  Full story
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Africa

Ivory Coast cocoa farmers bullish about mid-crop despite poor rains

15h59 Rainfall was poor last week in most of Ivory Coast's cocoa regions, but good soil moisture content from previous rains left farmers optimistic for the upcoming mid-crop harvest.. . .  Full story

Nigeria seeks asset managers for $2.6 bln new infrastructure firm

27/02 Nigeria's central bank is seeking asset managers for a new $2.6 bln infrastructure investment company set up to develop the country's crumbling transport networks and boost economic growth.. . .  Full story

Hormuud Telecom awarded Somalia's first mobile money licence

27/02 Somalia awarded its first mobile money licence to Hormuud Telecom on Saturday, in a move aimed at formalising the Horn of Africa country's digital payments system and integrating it with the global financial infrastructure.. . .  Full story
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