{"id":14560,"date":"2012-09-12T16:16:49","date_gmt":"2012-09-12T14:16:49","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/emerging-markets-stocks-hit-1-mth-high-after-german-court-ruling\/"},"modified":"2012-09-12T16:16:49","modified_gmt":"2012-09-12T14:16:49","slug":"emerging-markets-stocks-hit-1-mth-high-after-german-court-ruling","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-stocks-hit-1-mth-high-after-german-court-ruling\/","title":{"rendered":"EMERGING MARKETS-Stocks hit 1-mth high after German court ruling"},"content":{"rendered":"

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

LONDON, Sept 12<\/span> (Reuters) – Emerging equities rose to
\none-month highs on Wednesday, extending gains after a German
\ncourt removed a key hurdle to resolving the bloc’s debt crisis
\nand expectations firmed of additional economic stimulus from the
\nUnited States and China.<\/span><\/p>\n

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

Germany’s constitutional court ruled that the country can
\nratify the euro zone’s bailout fund and budget pact, though it
\ngave parliament veto powers over any future increases in the
\nsize of the fund.<\/p>\n

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

MSCI’s main emerging index was up 0.7 percent for
\nits fifth straight session of gains, helped by a 0.3 percent
\nrise for the Shanghai market after President Wen Jiabao
\nspurred hopes of more steps to stimulate growth.<\/p>\n

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

“Risk should move from neutral to positive on the
\nconstitutional court ruling,” said Luis Costa, head of CEEMEA FX
\nand debt strategy at Citi.<\/p>\n

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

He said attention would shift to Thursday’s U.S. Federal
\nReserve meeting, with markets pricing in a high probability that
\nthe bank could announce when it will start printing money again.<\/p>\n

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

That has spurred sharp gains in emerging assets, with stocks
\nrising almost 5 percent in the past week while emerging
\ncurrencies have also rallied sharply.<\/p>\n

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

Central European currencies, however, eased, with the Czech
\ncrown inching down from one-year highs versus the euro
\nand the Polish zloty pulling back from a three-week high
\n.<\/p>\n

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

The rouble rose 0.4 percent against the dollar to the
\nhighest since mid-May. Citi’s Costa said it was being boosted by
\nreports that state-run Sberbank was preparing to float a 7.6
\npercent stake to raise up to $5 billion<\/p>\n

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

“There is support from the rouble from the impending stock
\nsale by Sberbank, that could suggest more..inflows,” he said.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON, Sept 12 (Reuters) – Emerging equities rose to one-month highs on Wednesday, extending gains after a German court removed a key hurdle to resolving the bloc’s debt crisis and expectations firmed of additional economic stimulus from the United States and China. Germany’s constitutional court ruled that the country can ratify the euro zone’s bailout […]<\/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-14560","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\/14560","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=14560"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14560\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}