ANKARA, June 6 (Reuters) - Turkey's economic growth will exceed its target of 4.2 percent in 2017, Prime Minister Binali Yildirim said on Tuesday, adding that inflation would fall to single digits by year-end with the support of tight monetary and fiscal policies.Turkey's annual consumer price inflation stood at 11.72 percent in May, official data showed on Monday, edging back from an 8-year high...Read More
DUBAI, June 6 (Reuters) - Many UAE banks have stopped providing new loans to their clients to buy bonds of Qatari companies and state entities, sources familiar with the matter said, as banks turn cautious on Qatari credit in the wake of the growing Gulf rift. Leverage for corporate bond purchases is a fairly common practice that banks provide to their affluent or high net worth customers."Local b...Read More
MOSCOW, June 6 (Reuters) - The Russian rouble eased slightly on Tuesday, showing strong resilience to a recent sell-off in oil, one of its key drivers.As of 0820, the rouble shed 0.2 percent to 56.68 against the dollar , trading at levels seen over the past two weeks, while Brent crude prices lost 0.6 percent to $49.2 per barrel, approaching levels seen in early May.Oil prices took a hit from a po...Read More
COLOMBO, June 6 (Reuters) - Strong economic growth in the Maldives is expected to help lower the nation's borrowing costs in future, the government said on Tuesday, after the Indian Ocean archipelago raised $200 million via a debut sovereign bond last week.The government issued the 5-year bond with a coupon of 7 percent, with Hong Kong-based BoCom International Holdings Co Ltd acting as the sole g...Read More
Canadian bullion producer IAMGOLD Corp. (TSX IMG), (NYSE: IAG) is selling a 30% interest in its C??t?(C) Gold project, located in the Abitibi gold belt in Ontario, to Japan's Sumitomo Metal Mining in a deal worth $195 million.As part of the transaction, the Japanese miner - the Asian nation's No. 1 gold producer - will become IAMGOLD's partner in the project, which is currently in its pre-feas...Read More
OSLO, June 6 (Reuters) - ** Infront ASA announces intention to launch an initial public offering (IPO) of its ordinary shares and to apply for a listing on the Oslo Bourse** Infront says it is a financial technology firm that "provides a modern and user-friendly information and trading terminal, based on a market leading technology fed by both in-house and external financial market data"** Infront...Read More
DUBAI, June 6 (Reuters) - Saudi Arabia's central bank has advised banks in the kingdom not to trade with Qatari banks in Qatari riyals, banking sources told Reuters on Tuesday.The guidance from the central bank came on Monday evening, after Saudi Arabia, the United Arab Emirates and Bahrain severed diplomatic and transport ties with Doha, accusing it of supporting terrorism.The Saudi central bank...Read More
June 6 (Reuters) - Hong Kong's benchmark Hang Seng Index powered ahead on Tuesday, touching the 26,000 point-mark, and closed at a fresh 23-month high, aided by continued strength in property shares. The Hang Seng index rose 0.5 percent, to end at 25,997.14 points, while the China Enterprises Index gained 0.1 percent, to 10,606.26 points.Chinese money inflows helped property stocks surge.The prope...Read More
* IPO of food delivery service expected in coming weeks* IPO seen valuing company at up to 4 bln euros* New shares worth 450 mln euros to be issued* IPO seen as a boost for Rocket Internet (Adds comments from CEO, background)By Tom Sims and Emma ThomassonBERLIN/FRANKFURT, June 6 (Reuters) - Online food takeaway firm Delivery Hero is preparing a flotation that could value one of Europe's largest in...Read More
(Recasts with details and share price fall)June 6 (Reuters) - Britain's AO World warned growth in its home market could slow "significantly" on Tuesday, as a wider full-year loss at the online retailer sparked a sharp share price fall.AO World's stock was the biggest percentage loser on the FTSE 250 midcap index , with shares in the white goods retailer falling as much as 10 percent to 130 pence,...Read More
MOSCOW, June 6 (Reuters) - Russia's consumer price growth is set to accelerate in coming months but this is unlikely to prevent inflation from slowing to the central banks' target of 4 percent this year, analysts at the central bank said on Tuesday.In a monthly report on market trends, the central bank's analysts predicted higher inflationary pressure in the second half of the year due to cold wea...Read More
JOHANNESBURG, June 6 (Reuters) - South Africa's cash-strapped utility Eskom will seek power price increases of nearly 20 percent when it approaches the electricity regulator at end of the month, the BusinessDay newspaper reported on Tuesday citing confidential documents.Eskom, the sole power supplier to Africa's most developed economy, was granted a 2.2 percent tariff increase by the National Ener...Read More
OSLO, June 6 (Reuters) - Qatari aluminium firm Qatalum may start direct shipments of metals from its plant to unblock exports halted by a regional diplomatic row, a spokesman for Norway's Norsk Hydro said.Until now, the aluminium has been exported by ships from Qatar to the Jebel Ali port in the United Arab Emirates, where it was transferred to larger vessels for exports to customers in Asia, Euro...Read More
(Recasts on fall in copper prices, also updates other prices)MELBOURNE/SINGAPORE, June 6 (Reuters) - London copper prices dipped for a third consecutive session on Tuesday, weighed down by signs of slowing growth in China and the United States. FUNDAMENTALS* COPPER: London Metal Exchange copper had dropped 1.1 percent to $5,564 a tonne by 0731 GMT, following 0.7-percent losses in the previous ses...Read More
(Corrects headline to say Nordic Capital, Avista raise 805 mln pounds, not Convatec)June 6 (Reuters) - Convatec Group Plc * Nordic Capital, Avista sold aggregate of 250 million ordinary shares in Convatec at 322 pence per share, raising gross proceeds of ?805 million* Nordic Capital and Avista announce that they have elected to increase size of placing due to strong investor demandSource text fo...Read More
(Updates with share price move)JOHANNESBURG, June 6 (Reuters) - South African information technology firm Datatec Ltd said on Tuesday it will sell its Westcon-Comstor Americas business to Synnex Corp for up to $800 million, sending its shares up 25 percent.Westcon-Comstor, a distributor of technology and services for network security and data centres mostly in the United States, accounts for more...Read More
* Third and final offer rejected by bank* Challenger banks ripe for consolidation (Adds details, share movement, background)By Noor Zainab HussainJune 6 (Reuters) - British challenger bank Shawbrook Group Plc said it rejected a raised and final 868 million pounds ($1.12 billion)offer from private equity groups trying to take control of the lender."Independent directors believe that the final offer...Read More
June 6 (Reuters) - Foreign investors stepped up their investments in Asian equities in May, with inflows into seven markets including Taiwan, South Korea and India rising over 25 percent from a month earlier.Among the seven countries, South Korea received the highest amount of foreign investment, of about $1.7 billion, taking the tally for the year to nearly $8 billion, while Taiwan got inflows of...Read More
DUBAI, June 6 (Reuters) - The Qatari riyal fell against the U.S. dollar in the spot and forwards markets early on Tuesday because of concern about the long-term economic impact on Qatar after Saudi Arabia and the United Arab Emirates severed ties with it.The dollar was bid at 3.6470 riyal in the spot market, its lowest level since June 2016, according to Thomson Reuters data. The currency is pegge...Read More
SHANGHAI, June 6 (Reuters) - China stocks ended higher on Tuesday, with consumer and financial shares lending support as investors pondered the impact of new regulations on initial public offerings and ahead of a flurry of economic data.The blue-chip CSI300 index rose 0.7 percent, to 3,492.88 points, while the Shanghai Composite Index gained 0.3 percent to 3,102.13 points. China's economy is likel...Read More