Sterling in worst run of quarterly losses since 1984
LONDON, Sept 30 Sterling stayed below $1.30 on Friday and was on track for a fifth consecutive quarter of losses - the currency's worst run since 1984.
* Bernanke warns of risks if debt negotiations stall * Petrobras rises on report of fuel price hike * Brazil Bovespa falls 0.32 pct, Mexico IPC down 0.16 pct By Asher Levine SAO PAULO, Jan 15 Brazilian stocks slipped on Tuesday as investor concern over debt negotiations in the United States kept risk appetite muted. Banking firms weighed on Mexico's IPC index while Chile's bourse edged down, tracking global markets lower as investors monitored negotiations among U.S. policymakers to raise the $16.4 trillion debt ceiling. Federal Reserve Chairman Ben Bernanke said on Monday that any failure to reach an accord could put a recovery in the world's largest economy at risk. Credit ratings firm Fitch also said the U.S. faces a "material risk" of losing its triple-A status if negotiations stall. "The market is locked up because of what Bernanke and Fitch said," said Álvaro Bandeira, a partner with Orama Investimentos in Rio de Janeiro. "(Policymakers) will eventually resolve this, but it's bringing volatility and stress to the market." Brazil's benchmark Bovespa stock index fell 0.32 percent to 61,881.08, returning some of the previous session's nearly 1 percent gain. "Despite today's fall, the trend is still for a gain," said Daniel Marques, a technical analyst with Agora Corretora in Rio de Janeiro. "Volume is strong and we should hit a yearly high soon, though much will depend on what happens in the United States." Shares of OGX Petroleo e Gas Participacoes SA, the oil company controlled by Brazilian billionaire Eike Batista, fell 2.8 percent and contributed most to the index's losses. The stock had rallied to a more than 11 percent gain over the previous 3 sessions. Losses in the index were partially offset by shares of state-controlled oil company Petroleo Brasileiro SA, known as Petrobras. The heavily-weighted stock rose 0.25 percent after a local newspaper reported on Tuesday that Brazil's government may authorize a fuel price increase next week, which would help support Petrobras' bottom line. Shares of homebuilder Gafisa SA jumped 6 percent after the company reported a strong rebound in new launches and sales in the fourth quarter, according to a Monday filing. Gafisa shares look attractive after the company generated more free cash flow than expected by reselling low-income units with previously canceled contracts, analysts at Bank of America Merrill Lynch told clients in a Tuesday note. Mexico's IPC index dropped for the second straight session, losing 0.16 percent to 44,791.97. Shares of lender Grupo Financiero Inbursa fell 1 percent, contributing most to the index's losses, though retailer Wal-Mart de Mexico lent support, rising 0.31 percent. Chile's IPSA index fell for the second session in three, losing 0.16 percent to 4,447.90 as shares of regional energy group Endesa Chile slipped 0.75 percent. Latin America's key stock indexes at 1443 GMT: Stock indexes daily % YTD % Latest change change MSCI LatAm 3,906.79 -0.6 3.49 Brazil Bovespa 61,881.08 -0.32 1.52 Mexico IPC 44,791.97 -0.16 2.49 Chile IPSA 4,447.90 -0.16 3.41 Chile IGPA 21,717.23 -0.13 3.07 Argentina MerVal 3,080.91 -0.46 7.94 Colombia IGBC 14,745.91 -0.07 0.20 Peru IGRA 21,808.64 -0.28 5.72 Venezuela IBC 473,704.28 0 0.48
HONG KONG, Sept 30 (LPC) - Syndicated lending in Asia Pacific, excluding Japan, fell by 8.7% to US$334.38bn from 925 deals in the first nine months of 2016 compared to a year earlier, dragging volume to a three-year low amid wider market volatility, slow economic growth and limited M&A activity.
OSLO, Sept 30 The Norwegian sovereign wealth fund, the world's largest, can resume investing in Singapore Technologies Engineering, the board of the central bank said on Friday.