ALMATY, June 6 (Reuters) - Uzbekistan's upper chamber of parliament said on Tuesday it has appointed Mamarizo Nurmuratov new central bank chairman.Nurmuratov, who has until now chaired the Senate's budget and economic reforms committee, replaces Faizulla Mullajanov who died last month after serving as the central bank's head for 26 years. (Reporting by Olzhas Auyezov; Editing by Andrey Ostroukh)...Read More
Gold is breaking out of a six-year slump as investors search for safe havens during a period of global upheaval and bets that historically low U.S. interest rates will endure. After breaching a six-year downtrend line, gold is at the highest level since Nov. 4, and has advanced 12.7 percent this year. An uptick in bullion imports in China, as a hedge against currency risk, and a tepid pace of U.S....Read More
(Adds detail on capital outflows in last paragraph)By Dion RabouinNEW YORK, June 6 (Reuters) - Non-resident capital inflows to emerging markets should reach $970 billion this year, a 35 percent increase from 2016, the Institute of International Finance said in a report released on Tuesday.The projection follows a strong first quarter for emerging market investment that saw the strongest portfolio...Read More
* STOXX 600 down 0.7 pct* Roche falls as Aphinity study results disappoint* Vestas Wind jumps on new wind turbine launch* Stronger euro to weigh on European equities - MS (Adds closing prices)By Helen ReidLONDON, June 6 (Reuters) - European shares extended their fall on Tuesday, with healthcare stocks particularly weak, as a diplomatic spat in the Middle East weakened appetite for risky assets acr...Read More
By Marja NovakLJUBLJANA, June 6 (Reuters) - The Slovenian Fiscal Council, a body that advises the government on public finances, said the government should increase efforts to reduce public debt while the country enjoys strong economic growth.The Slovenian economy expanded rapidly after the country joined the European Union in 2004 and adopted the euro in 2007, but it was badly hit by the global f...Read More
BOGOTA, June 6 (Reuters) - Davivienda , Colombia's third-largest bank, will issue up to 700 billion pesos ($241.7 million) in bonds on the local market, the company said on Tuesday.The bank will first offer paper worth 500 billion pesos and then an additional 200 billion if there is sufficient demand, Davivienda said in a filing to the financial regulator.The bonds will come due in 3, 7 and 10 yea...Read More
BOGOTA, June 6 (Reuters) - Colombia's lower-than-expected May inflation figure opens the door for the central bank board to back a 50-basis-point rate cut at this month's meeting, analysts said on Tuesday.The government statistics agency said on Monday consumer prices were up 0.23 percent last month, taking twelve-month inflation to 4.37 percent, closer to the central bank's long-term target of 2...Read More
(Kitco News)- Renewedsafe-haven demand has helped generate strong momentum for gold as the markethas pushed through key levels, but more work needs to be done to confirm thelong-term uptrend, analysts say.Thelatest move in gold, which has pushed prices within striking distance of $1,300an ounce, started Friday following weaker-than-expected U.S. employment data.The report caused investors to shift...Read More
* Average German bond bought in May is loss making* To see a chart:* (Writes through)By Francesco Canepa and Balazs KoranyiFRANKFURT, June 6 (Reuters) - The European Central Bank bought a record proportion of loss-making German government bonds last month, data showed on Tuesday, in a sign it may be running out of positive-yielding paper to buy for its massive stimulus programme.The threat of loss...Read More
FRANKFURT, June 6 (Reuters) - Bayer AG said it was further reducing its stake in plastics and chemicals subsidiary Covestro from 53.3 percent, part of a plan to sever ownership ties completely over the medium term.As part of three separate transactions, the German drugmaker said on Tuesday it had started placing 1 billion euros ($1.1 billion) in Covestro shares on the open market in an accelerated...Read More
AMSTERDAM, June 6 (Reuters) - Stricter international banking rules could hurt the supply of mortgages in the Netherlands, possibly harming a key engine behind the country's economic recovery, a government policy body said on Tuesday.The Netherlands' Bureau for Economic Policy Analysis (CPB) said rules proposed by the Basel Committee on Banking Supervision would increase the risk profile of Dutch b...Read More
MADRID, June 6 (Reuters) - The Bank of Spain's head said on Tuesday he was not prepared to answer questions about the situation of troubled Banco Popular , which is running out of time to find a buyer before a self-imposed June 10 offer deadline.Asked about Popular's situation, Luis Maria Linde told Spain's Senate: "It's simple, now is not the time. I haven't come prepared for that."Popular's shar...Read More
(Adds quote, details)By Camillus EbohABUJA, June 6 (Reuters) - Nigeria's government is seeking approval from lawmakers to borrow $1.5 billion from international lenders to fund projects in a number of the country's states, a letter by the acting president said on Tuesday.The OPEC member, which has Africa's largest economy, is grappling with its first recession in 25 years which was largely brough...Read More
ROME, June 6 (Reuters) - The collapse of two regional banks in Italy's Veneto region would trigger a systemic crisis that risked dragging down the whole domestic economy, Economy Undersecretary Pierpaolo Baretta said on Tuesday.Banca Popolare di Vicenza and Veneto Banca have requested a state bailout to help fill a combined capital shortfall of 6.4 billion euros ($7.2 billion).However, sources hav...Read More
* Former FBI director to testify before Congress on Thursday* UK election outcome, ECB meeting also on same day* Oil falls further below $50 as Mideast rift weighs* Dow down 0.12 pct, S&P off 0.12 pct, Nasdaq up 0.08 pct (Adds details, changes comment, updates prices)By Tanya AgrawalJune 6 (Reuters) - U.S. stocks edged lower in late morning trading on Tuesday as investors shunned riskier assets ah...Read More
Stocks fell back into the red on Tuesday as investors awaited clarity on a number of market-moving events with geopolitical ramifications later in the week. The S&P 500 was down 0.2%, the Dow Jones Industrial Average slid 0.16%, and the Nasdaq fell 0.04%. Wall Street wasn't able to extend a record-breaking streak into a third session on Monday as a terror attack in London and lower oi...Read More
* TSX up 1.97 points, or 0.01 percent, to 15,411.75* Six of the TSX's 10 main groups were down TORONTO, June 6 (Reuters) - Canada's main stock index held steady on Tuesday as investors, wary over political uncertainties from the United States to the Middle East, shied way from riskier assets, and gold mining companies, bolstered by a surge in bullion prices, offset declines. At 10:34 a.m. ET (14...Read More
* Dollar sinks below 110 yen for first time in six weeks* Three significant "risk events" due on Thursday* Graphic: World FX rates in 2017 (Updates with U.S. market open, changes dateline; previous LONDON)By Saqib Iqbal AhmedNEW YORK, June 6 (Reuters) - The dollar fell to a more than six-week low against the yen on Tuesday, dipping below a key technical level as treasury yields slipped on heighten...Read More
JOHANNESBURG, June 6 (Reuters) - South Africa's negative economic growth is a risk to fiscal targets and puts pressure on the government to intensify growth programmes as a matter of urgency, the Treasury said on Tuesday.South Africa entered recession for the first time in eight years, led by weak manufacturing and trade, data from Statistics South Africa showed. "This worse-than-expected GDP outc...Read More
ABUJA, June 6 (Reuters) - Nigeria's government is seeking approval from lawmakers to borrow $1.5 billion from international lenders to fund projects in a number of the country's states, a letter by the acting president said on Tuesday.The letter by Yemi Osinbajo, was read out in both chambers of parliament. President Muhammadu Buhari handed over power to Osinbajo before travelling to Britain on me...Read More