U.S. prices moderated in February, with the cost of services outside housing and energy slowing significantly, keeping a June interest rate cut from the Federal Reserve on the table. The report from the Commerce Department on Friday also showed consumer spending rising by the most in just over a year last month, underscoring the economy's resilience. (Read more on Reuters)
McDonald’s is planning to sell Krispy Kreme doughnuts at its restaurants nationwide by the end of 2026, the chains announced Tuesday. The rollout will start in the second half of this year, but it will take roughly two and a half years as Krispy Kreme more than doubles its distribution to satisfy the partnership. (Read more on CNBC)
EUROPE
Euro-area economic confidence improved, supporting expectations that the region can soon move beyond its recent weakness. A sentiment indicator published Wednesday by the European Commission rose to 96.3 in March — a little more than economists had predicted in a Bloomberg survey. (Read more on Bloomberg)
H&M, the world's second-largest listed fashion retailer, reported a stronger than expected first-quarter operating profit, sending its shares up 13%, as new CEO Daniel Erver said shoppers liked the brand's spring collections. (Read more on Reuters)
ASIA PACIFIC
Officials from Japan's government and central bank held discussions on Wednesday after the yen weakened to levels not seen in almost 34 years. Representatives from the Finance Ministry, the Financial Services Agency and the Bank of Japan agreed at the ad hoc meeting that excessive fluctuations in exchange rates are not desirable. (Read more on NHK)
China's industrial firms posted higher profits in the opening months of the year, official data showed on Wednesday, reinforcing signs that an economic recovery was gaining traction despite persistent sluggishness in the property sector. (Read more on Reuters)
OTHERS
Turkey's main opposition party has claimed big election victories in the main cities of Istanbul and Ankara. The results are a significant blow for Recep Tayyip Erdogan, who had hoped to regain control of the cities less than a year after he claimed a third term as president. (Read more on BBC)
AFRICA REGIONAL
The Central Bank of Nigeria on Tuesday hiked its key interest rate by 200 basis points, as Africa’s largest economy looks to recover from a historic currency crisis and soaring inflation. The CBN announced that its main monetary policy rate would rise to 24.75% from 22.75%, in its second consecutive hike after February’s 400 basis point increase. (Read more on CNBC)
Credit rating agency Standard & Poor’s revised Morocco’s outlook to positive BB+/B thanks to social, economic, and budgetary reforms. With the new rating, Morocco edges closer to retrieve its investment grade, lost during the Covid-19 pandemic. (Read more on The North Africa Post)
MAURITIUS
SBM Group announced after-tax profits of Rs 4.3 billion for the financial year ending December 31, 2023, which is a new milestone for the institution. As a result, the Board decided to double the dividend payment to its shareholders, from 20 to 40 cents per share held. (Read more on Le Mauricien)
Source: CNBC, Reuters, Bloomberg, NHK, BBC, The North Africa Post, Le Mauricien
Market Scorecard
Source: Yahoo Finance, Investing.com, Stock Exchange of Mauritius
Turn your financial goals into reality with LCF.
To learn more about our Local & International Trading services,
please contact Khamlesh/Tajvi/Nikhil by clicking here
To learn more about our Portfolio Management/Advisory services,
