{"id":11521,"date":"2012-06-15T23:23:58","date_gmt":"2012-06-15T21:23:58","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/emerging-markets-stocks-up-1-pct-egypt-cds-jump-on-politics\/"},"modified":"2012-06-15T23:23:58","modified_gmt":"2012-06-15T21:23:58","slug":"emerging-markets-stocks-up-1-pct-egypt-cds-jump-on-politics","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-stocks-up-1-pct-egypt-cds-jump-on-politics\/","title":{"rendered":"EMERGING MARKETS-Stocks up 1 pct; Egypt CDS jump on politics"},"content":{"rendered":"

\t\t<\/span><\/p>\n

LONDON, June 15<\/span> (Reuters) – Emerging equities rose 1 percent
\non Friday and most currencies stayed just below flat versus the
\ndollar as talk of coordinated central bank action if necessary
\nsoothed investor fears of market tumult after Sunday’s Greek
\nelection.<\/span><\/p>\n

<\/span><\/p>\n

G20 officials told Reuters that central banks from major
\neconomies stand ready to provide liquidity and keep dollars
\nflowing through world markets if the outcome of Greek elections
\nleads to a credit shock.<\/p>\n

<\/span><\/p>\n

The MSCI emerging equity index is on track for its
\nsecond straight week of gains after 11 weeks of losses and has
\nposted the biggest weekly gain so far since mid-February. In
\nemerging Europe, Russian stocks jumped 1 percent to
\nthree-week highs as oil prices rose slightly.<\/p>\n

<\/span><\/p>\n

Russia’s central bank kept interest rates unchanged as
\nexpected, with scheduled corporate tax payments allowing the
\nrouble to firm moderately against the dollar.<\/p>\n

<\/span><\/p>\n

In central Europe the Serbian dinar rose almost 1 percent
\nversus the euro and 5-year credit default swaps fell
\nto 428 basis points, the lowest since May 23. The reformist
\nDemocratic Party and its Socialist allies said this week they
\nhad agreed on policy but needed “a few days” to divide up power.<\/p>\n

<\/span><\/p>\n

However CDS were on the rise in Egypt which faces a
\npresidential election this weekend. Debt insurance costs rose to
\n650 bps, the highest in over three years, after a shock court
\nruling dealt a heavy blow to hopes of a peaceful democratic
\ntransition from 16 months of military rule.<\/p>\n

<\/span><\/p>\n

Egyptian financial markets were closed on Friday but the
\npound fell to 3-week lows after the ruling on Thursday to
\ndissolve the Islamist-led parliament, while Cairo stocks
\n, one of this year’s best-performing bourses, fell to
\nJanuary 2012 lows.<\/p>\n

<\/span><\/p>\n

Ivory Coast’s $2.3 billion defaulted Eurobond rose one point
\n after the country said it would pay the July 2
\ncoupon along with a good-faith payment against arrears.<\/p>\n

<\/span><\/p>\n

Ivory Coast is the best performer this year on JP Morgan’s
\nEMBI Global dollar bond index, returning over 40 percent
\non expectations the bond will start to pay out this year.<\/p>\n

<\/span><\/p>\n

(Reporting by Sujata Rao; editing by Stephen Nisbet)<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON, June 15 (Reuters) – Emerging equities rose 1 percent on Friday and most currencies stayed just below flat versus the dollar as talk of coordinated central bank action if necessary soothed investor fears of market tumult after Sunday’s Greek election. G20 officials told Reuters that central banks from major economies stand ready to provide […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11521","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11521"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11521\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}