{"id":13095,"date":"2012-08-02T13:55:21","date_gmt":"2012-08-02T11:55:21","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/emerging-markets-stocks-dip-pre-ecb-leu-climbs-as-rates-on-hold\/"},"modified":"2012-08-02T13:55:21","modified_gmt":"2012-08-02T11:55:21","slug":"emerging-markets-stocks-dip-pre-ecb-leu-climbs-as-rates-on-hold","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-stocks-dip-pre-ecb-leu-climbs-as-rates-on-hold\/","title":{"rendered":"EMERGING MARKETS-Stocks dip pre-ECB; leu climbs as rates on hold"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> Aug 2 (Reuters) &#8211; Caution held emerging markets in<br \/>\ncheck on Thursday ahead of a European Central Bank meeting, with<br \/>\nequities dipping half a percent after four sessions of gains,<br \/>\nwhile the Romanian leu firmed up slightly as its central bank<br \/>\nkept rates on hold.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The Czech central bank is also expected to keep interest<br \/>\nrates steady on Thursday against a backdrop of slower domestic<br \/>\ngrowth, weakening currencies and market pressure.<\/p>\n<p><span><\/span><\/p>\n<p>But ECB president Mario Draghi risks triggering a market<br \/>\nbacklash if Thursday&#8217;s policy decision doesn&#8217;t match words with<br \/>\ndeeds after he told investors last week he was willing to do<br \/>\n&#8220;whatever it takes&#8221; to save the euro.<\/p>\n<p><span><\/span><\/p>\n<p>Emerging equities fell 0.6 percent, easing further<br \/>\nfrom the four-week highs hit earlier in the week. Markets were<br \/>\nalso discouraged when the Federal Reserve held off offering more<br \/>\nstimulus to the U.S. economy on Wednesday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The Fed failed to deliver a stronger policy signal<br \/>\nyesterday evening, which has been a cause for disappointment.<br \/>\nSome weakness at today&#8217;s opening of the EMEA session is<br \/>\ntherefore quite likely,&#8221; Societe Generale told clients.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;This has not been a good start to the big obstacle course<br \/>\nthis week.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Chinese stocks, which make up 18 percent of the index, fell<br \/>\n0.6 percent to hover near 41-month lows as property<br \/>\nshares were hit by talk of fresh government curbs on the sector.<\/p>\n<p><span><\/span><\/p>\n<p>In Romania, the central bank held rates at 5.25 percent, in<br \/>\nline with expectations, as it attempts to balance growth<br \/>\nconcerns with the need to strengthen a currency that last month<br \/>\nfell to record lows. The leu could fall more as the National<br \/>\nBank of Romania is running low on foreign currency reserves.<\/p>\n<p><span><\/span><\/p>\n<p>The leu rose 0.2 percent on Thursday as did the<br \/>\nCzech crown ahead of a rate decision in Prague.<\/p>\n<p><span><\/span><\/p>\n<p>The Czech central bank is likewise expected to hold rates<br \/>\nat 0.5 percent.<\/p>\n<p><span><\/span><\/p>\n<p>(Reporting by Alistair Smout; Editing by Hugh Lawson)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON Aug 2 (Reuters) &#8211; Caution held emerging markets in check on Thursday ahead of a European Central Bank meeting, with equities dipping half a percent after four sessions of gains, while the Romanian leu firmed up slightly as its central bank kept rates on hold. The Czech central bank is also expected to keep [&hellip;]<\/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-13095","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\/13095","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=13095"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13095\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}