{"id":13486,"date":"2012-08-14T14:41:51","date_gmt":"2012-08-14T12:41:51","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/refile-emerging-markets-israeli-assets-recover-e-european-fx-firms-up\/"},"modified":"2012-08-14T14:41:51","modified_gmt":"2012-08-14T12:41:51","slug":"refile-emerging-markets-israeli-assets-recover-e-european-fx-firms-up","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/refile-emerging-markets-israeli-assets-recover-e-european-fx-firms-up\/","title":{"rendered":"REFILE-EMERGING MARKETS-Israeli assets recover, E.European FX firms up"},"content":{"rendered":"

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

(Repeats to give analyst’s name and title after first quote)<\/span><\/p>\n

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

LONDON<\/span> Aug 14 (Reuters) – Israeli shares and the shekel
\npicked up on Tuesday after sharp falls driven by a spike in
\npolitical risk, while emerging European currencies firmed
\nmodestly and emerging stocks rose 0.7 percent on expectations of
\nmore policy stimulus from global central banks.<\/p>\n

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

Romania’s leu rose 0.25 percent to one-month highs
\nafter data showed the economy pulled out of recession in the
\nsecond quarter.<\/p>\n

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

“French and German GDP printed a bit better than expected
\nand that’s lifting sentiment a bit and translating into better
\nFX performance in emerging Europe,” said Luis Costa, head of
\nCEEMEA FX and debt strategy at Citi.<\/p>\n

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

Israeli assets sold off on Monday amid an intensifying
\ndebate on the prospects of war with Iran. But on
\nTuesday Tel Aviv stocks rose 0.4 percent, recouping some of the
\nprevious session’s 1.6 percent losses while the shekel firmed
\n0.3 percent.<\/p>\n

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

It had lost 1.4 percent to the dollar on Monday, hitting
\ntwo-week lows. Israeli 5-year credit default swaps were
\nunchanged around 150 basis points after jumping 13 bps.<\/p>\n

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

Costa called the selloff “rumour-driven price action”.<\/p>\n

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

“Today we are past the panic wave and people are realising
\nits not a blow-up story yet,” Costa said. “But unfortunately,
\nall these fears will keep investors cautious when it comes to
\nbuying anything in the region.”<\/p>\n

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

Egyptian shares rallied 1.3 percent to 5-month highs
\n after Cairo took a decisive step towards civilian rule
\nand also received a $2 billion backstop from Qatar. But
\npolitical turmoil kept Kuwaiti shares near 8-year lows.<\/p>\n

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

Broader emerging equities traded just off 3-month
\nhighs thanks to a positive close in China and
\nbetter-than-expected GDP data from France and Germany. The euro
\nzone economy however contracted in the second quarter and a key
\nGerman business sentiment survey dropped.<\/p>\n

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

Coming on top of lacklustre Chinese data, that has cemented
\nexpectations for more policy stimulus ahead. <\/p>\n

(Reporting by Sujata Rao; Editing by Hugh Lawson)<\/p>\n

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

\n

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

(Repeats to give analyst’s name and title after first quote) LONDON Aug 14 (Reuters) – Israeli shares and the shekel picked up on Tuesday after sharp falls driven by a spike in political risk, while emerging European currencies firmed modestly and emerging stocks rose 0.7 percent on expectations of more policy stimulus from global central […]<\/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-13486","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\/13486","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=13486"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13486\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}