* Emerging stocks flat, near 2-month lows
* Emerging currencies firm, South Africa’s rand strengthens
by 1 pct
* Turkish lira gains 0.5 percent after repo auction
* Serbian dinar up slightly after rate decision
By Clare Kane
LONDON, April 12 (Reuters) – Emerging stocks steadied close
to two-month lows and currencies firmed on Thursday with the
Turkish lira and South African rand the biggest gainers as
markets staged a nervous recovery on the suggestion the ECB
could restart its bond-buying programme.
European Central Bank executive board member Benoit Coeure
said on Wednesday the bank may intervene to keep yields on
peripheral euro zone debt down after Spanish bond yields came
close to 6 percent – a suggestion that improved investor
sentiment across riskier markets.
“The markets are a little bit better following comments by
the ECB member that they could still come and support Spanish
bonds. That triggered a little bit of improvement but it’s quite
fragile,” said Gaelle Blanchard, emerging markets strategist at
Societe Generale.
China’s best stocks performance in two months failed to lift
other emerging indices, with the MSCI emerging equities index
, nudging up by just 0.1 percent on the day, after
hitting a new two-month low earlier in the session.
Continued…
