GLOBAL MARKETS: Polyus selling $700m stake
While World Bank sees global growth rising
Polyus selling $700m stake
Polyus PJSC is selling shares worth at least US$700m as Russia’s largest gold producer seeks to meet Moscow’s stock-listing rules and raise cash. It is offering at least 7% of the company through a combination of new and existing shares owned by the family of billionaire Suleiman Kerimov, according to a statement. Some of the shares will be traded as global depository receipts on the London Stock Exchange, marking a return to the city for Polyus, which withdrew its listing two years ago. Bloomberg
World Bank sees global growth rising
The World Bank has kept its outlook for the global economy unchanged, forecasting a modest pick-up in growth despite uncertainty about monetary policy and the risk of a surge in protectionism. The development lender projects that the world economy will grow by 2.7% this year and 2.9% next year, the same as its January forecast.
"Global activity is firming broadly as expected," the bank said in a report released on Sunday. "Manufacturing and trade are picking up, confidence is improving, and international financing conditions remain benign." Bloomberg